New Delhi, Jan. 29 -- As the Indian economy evolves and we witness technological transformations it is natural to see the increased used of internet and aligned digital services to make lasting improvements in the lives of individuals.

These developments help in making the process of distributing short-term loans, instant personal loans among other associated services seamless.

KYC hence is nothing but a means for banks and other lending institutions to 'know their customers'. Now when this process is carried out in a digital manner i.e., through internet, in a paperless way we term the process as e-KYC.

E-KYC is nothing but the collection of information by a bank or any other lending institution to authenticate a borrowers credentials...