Post Office has started the (e-KYC) process for Post Office Savings Bank (POSB) account opening and transactions through Aadhaar biometrics. The post office will update the eKYC functionality gradually. In the first phase, this facility will be available only at POSA and post office counters. In this, facility for account opening and transactions of new customers will be provided. Apart from this, eKYC and KYC details of existing customers will be updated.
In its next phase, facilities like account opening, closing and transactions for other schemes like RD, TD, MIS, SCSS will be provided through e-KYC. However, currently only transactions up to Rs 5,000 will be done through Aadhaar biometric in the post office. Voucher will have to be used for transactions more than this. This entire system will work under the Finacle software of the post office. For this, many important changes have been made in it.
According to the order of the Postal Department dated January 1, 2025, “Basic Savings Account and Single Type POSA (Post Office Savings Account) accounts will be opened in Finacle software only on the basis of Aadhaar authentication. At the same time, e-KYC will be required to open accounts of other schemes. Apart from this, the process of bringing other facilities like account closure, transfer etc. is also going on under this software. If a person wants to open an account in the post office, but Aadhaar is not updated then his account will not be opened under Aadhaar biometric. Such people will first be appealed to update Aadhaar.
In the second phase of this initiative, the Postal Department is considering starting other facilities including opening of accounts or transactions through e-KYC. In the coming time, the department will also provide other types of facilities for new customers and account holders. Post Office is rapidly moving towards digital platform for paperless work. Keeping this in view, the department has decided to provide facilities to its customers through Aadhaar biometrics. In the coming time, Aadhaar will be necessary for many tasks including account opening and transactions in the post office.
On 26 November 2024, the eKYC process was started in 12 head post offices and 2 sub post offices of the country under a pilot project, but today i.e. from January 6, it has been implemented all over India. Under this, new single saving accounts will be opened in all the post offices of the country. At the same time, old account holders will also be linked to eKYC.
