Only Aadhaar Enabled eKYC Process Enough For Opening THESE Small Savings Schemes; No Paperwork Hassle

New Delhi: The Department of Post has introduced extension of e-KYC capability for opening of Monthly Income Scheme (MIS), Time Deposit (TD), Kisan Vikas Patra (KVP), and National Savings Certificate (NSC) scheme accounts.

“In continuation, Aadhaar enabled eKYC process has been enabled for opening of Monthly Income Account Scheme (MIS), Time Deposit Scheme (TD), Kisan Vikas Patra Scheme (KVP) and National Savings Certificate VIII Issue (NSC) scheme accounts w.e.f 23 .04.2025,” Department of Post mentioned in a round on April 30.

Accordingly, now the put up workplaces will be capable to open the MIS, TD, KVP and NSC scheme accounts of Single – Individual (Adult) kind via Aadhaar authentication the use of e-KYC CIF, it added.

Aadhaar authentication procedure

On invoking the CMISAOP menu, the Counter PA has to acquire the biometric of the depositor for buying the consent to make use of his/her Aadhaar and continue for feeding the opposite main points for opening of the account. On of completion of all of the information access in CMISAOP display, earlier than submission, 2nd biometric of the depositor will likely be acquired for authenticating the transaction.

No-pay-in-slip (deposit) voucher will likely be amassed for any quantity of deposit whilst opening those accounts on Aadhaar Authentication foundation. The quantity written by way of the depositor within the Account Opening Form (SB-eKYC-AOF) will likely be thought to be as quantity of deposit.

Fund Transfer From PO Savings Account 

If the depositor wants to switch the price range from PO Savings Account for opening of MIS/TD/KVP/NSC accounts, the debit account must be both Single or Joint B kind account different depositor. In case the account is opened on switch of price range from the PO Savings Account of the depositor, withdrawal shape (SB-7) shall no longer be amassed, because the account is opened via biometric authentication of the depositor.

The current procedure will likely be adopted for the paper-based (voucher founded) transaction. Aadhaar Authenticated Transactions will without delay be posted within the ledgers and require no verification by way of the checker. Accordingly, the account will likely be opened without delay on biometric authentication of the depositor.

All the transactions together with the POSA debit transactions, posted for opening of MIS/TD/KVP/NSC via biometric authentication shall seem within the EKyC lengthy e book detailed record. The construction of functionalities like Account Closure, Transfer of Accounts, alternate of nomination (Account Modification) and many others. via biometric authentication are underway. Meanwhile, those operations shall proceed to be carried out during the current approach.