India Post & Nippon India Mutual Fund Join Hands to Offer Door-to-Door KYC Services

In a move to promote financial inclusion and simplify investor onboarding, India Post has signed a Memorandum of Understanding (MoU) with Nippon India Mutual Fund to offer door-to-door KYC verification services. Leveraging its unmatched nationwide network, India Post aims to make mutual fund investments more accessible, especially for rural and elderly populations. This partnership supports the government’s Jan Nivesh initiative and marks a new milestone in using India Post’s infrastructure to empower citizens through secure and convenient financial services.

Key Highlights

MoU Signed Between

• Department of Posts: Represented by Ms. Manisha Bansal Badal, General Manager, Business Development Directorate.
• Nippon India Mutual Fund: Represented by Mr. Sundeep Sikka, Executive Director & CEO, Nippon Life India Asset Management Ltd.

Service Offered

• Door-to-door Know Your Customer (KYC) verification for mutual fund investors.

India Post’s Strength

• Has a massive reach even in India’s remotest areas.
• Successfully conducted 5+ lakh KYC verifications for UTI and SUUTI.

Investor Benefits

• Allows completion of KYC from the comfort of home.
• Especially helpful for senior citizens, individuals with mobility issues, and those in rural/underserved areas.

Jan Nivesh Alignment

• Supports the government’s Jan Nivesh mission to promote financial literacy and inclusion.

Impact on Financial Inclusion

• Facilitates access to mutual funds for people with limited banking or financial institution access.
• Empowers a larger section of society to make informed investment decisions.

Strategic Vision

• Strengthens India Post’s role in financial services.
• Encourages collaborations to deepen India Post’s reach in the investment and economic development ecosystem.