Mutual Fund

DoT asks telecom operators to be ready with new KYC process by November 5

The Department of Telecommunications (DoT) has asked telecom operators to be ready with an alternate verification process for approval from the department by November 5, as it ordered the operators to stop using Aadhaar e-KYC for the verification process. The DoT in a notification on Friday ordered immediate discontinuation of the Aadhaar-based verification process for telecom subscribers in accordance with the Supreme Court’s verdict on September 26 which barred private entities from possessing Aadhaar details of their customers. The telecom industry, through its joint representation on October 5, had suggested an alternate digital KYC (Know Your Customer) process for mobile subscribers.

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