Business News | India Post, UTI Mutual Fund Extend Partnership for Doorstep KYC Verification Across India
Get latest articles and stories on Business at LatestLY. India Post and UTI Mutual Fund have extended their existing partnership to expand doorstep Know Your Customer (KYC) verification services for mutual fund investors across India, particularly in remote and underserved areas.
New Delhi [India], October 29 (ANI): India Post and UTI Mutual Fund have extended their existing partnership to expand doorstep Know Your Customer (KYC) verification services for mutual fund investors across India, particularly in remote and underserved areas.
According to a release issued by the Ministry of Communications on Thursday, the expanded collaboration aims to simplify investor verification, improve access to mutual fund services and strengthen financial inclusion.
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"Under the Pan-India KYC Verification Project, India Post will leverage its extensive postal network and last-mile connectivity to facilitate Know Your Customer (KYC) verification at investors' doorsteps, including in remote and underserved areas," the ministry said.
The Memorandum of Understanding (MoU) extending the existing agreement was signed by Adnan Ahmed, Chief General Manager, Parcel & CCS Directorate, Department of Posts, and Vetri Subramaniam, Managing Director and CEO of UTI Asset Management Company Limited, in Mumbai on Thursday.
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The expanded partnership builds on an earlier KYC remediation initiative that helped investors complete pending verification requirements and address documentation gaps.
"Building on the earlier KYC remediation initiative, which helped investors complete pending KYC requirements, improve compliance and address documentation gaps, the expanded collaboration is expected to strengthen investor servicing, encourage wider participation in mutual funds and support uninterrupted access to mutual fund investments," the release stated.
India Post has already been providing doorstep KYC verification services for mutual fund investors. According to an earlier Ministry of Communications release issued in April 2025, India Post had completed over 5 lakh KYC verifications for UTI and the Specified Undertaking of the Unit Trust of India (SUUTI).
The Department of Posts subsequently signed similar agreements with Nippon India Mutual Fund in April 2025 and SBI Mutual Fund later that month.
In July 2025, India Post also entered into an agreement with the Association of Mutual Funds in India (AMFI) to facilitate KYC verification for mutual fund investors through its network of over 1.64 lakh post offices. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)