New Delhi [India], October 29 (ANI): India Post and UTI Mutual Fund have prolonged their present partnership to broaden doorstep Know Your Customer (KYC) verification companies for mutual fund traders throughout India, significantly in distant and underserved areas.
According to a launch issued by the Ministry of Communications on Thursday, the expanded collaboration goals to simplify investor verification, enhance entry to mutual fund companies and strengthen monetary inclusion.
‘Under the Pan-India KYC Verification Project, India Post will leverage its intensive postal community and last-mile connectivity to facilitate Know Your Customer (KYC) verification at traders’ doorsteps, together with in distant and underserved areas,’ the ministry stated.
The Memorandum of Understanding (MoU) extending the prevailing settlement was signed by Adnan Ahmed, Chief General Manager, Parcel & CCS Directorate, Department of Posts, and Vetri Subramaniam, Managing Director and CEO of UTI Asset Management Company Limited, in Mumbai on Thursday.
The expanded partnership builds on an earlier KYC remediation initiative that helped traders full pending verification necessities and handle documentation gaps.
‘Building on the sooner KYC remediation initiative, which helped traders full pending KYC necessities, enhance compliance and handle documentation gaps, the expanded collaboration is predicted to strengthen investor servicing, encourage wider participation in mutual funds and help uninterrupted entry to mutual fund investments,’ the discharge said.
India Post has already been offering doorstep KYC verification companies for mutual fund traders. According to an earlier Ministry of Communications launch issued in April 2025, India Post had accomplished over 5 lakh KYC verifications for UTI and the Specified Undertaking of the Unit Trust of India (SUUTI).
The Department of Posts subsequently signed comparable agreements with Nippon India Mutual Fund in April 2025 and SBI Mutual Fund later that month.
In July 2025, India Post additionally entered into an settlement with the Association of Mutual Funds in India (AMFI) to facilitate KYC verification for mutual fund traders by way of its community of over 1.64 lakh put up workplaces. (ANI)