KYC is an abbreviation for Know Your Customer.
KYC regulations have been mandated by financial agencies like banks and NBFC’s (Non-banking Financial Companies) prior to offering any financial services to customers.
Another related concept is eKYC.
The latter, called paperless KYC, is the process of electronic verification of credentials of customers.The eKYC is also called Aadhaar based eKYC.
Note that only UIDAI licensed users can avail of the feature of KYC verification online.Types of aadhaar eKYCYou can use 2 kinds of Aadhaar based eKYC for KYC verification online:  Based on biometrics In this case, you have to offer a 12-digit Aadhaar number along with biometric information like iris or fingerprint scan.
A broking firm will open a Demat account for you using a similar authentication process.
KYC is an abbreviation for Know Your Customer.
KYC regulations have been mandated by financial agencies like banks and NBFC’s (Non-banking Financial Companies) prior to offering any financial services to customers.
Another related concept is eKYC.
The latter, called paperless KYC, is the process of electronic verification of credentials of customers.The eKYC is also called Aadhaar based eKYC.
Note that only UIDAI licensed users can avail of the feature of KYC verification online.Types of aadhaar eKYCYou can use 2 kinds of Aadhaar based eKYC for KYC verification online:  Based on biometrics In this case, you have to offer a 12-digit Aadhaar number along with biometric information like iris or fingerprint scan.
A broking firm will open a Demat account for you using a similar authentication process.