India Post, SBI Mutual Fund Partner for Doorstep KYC Services
ECONOMY & POLICY

India Post, SBI Mutual Fund Partner for Doorstep KYC Services

In a significant step towards simplifying mutual fund onboarding and promoting financial inclusion, the Department of Posts (DoP) has partnered with SBI Funds Management Limited (SBIFM), one of India’s leading asset management companies. A Memorandum of Understanding (MoU) signed between the two entities enables India Post to provide doorstep Know Your Customer (KYC) verification services for investors of SBI Mutual Fund.

The MoU was signed by Ms. Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Posts, and Mr. Munish Sabharwal, Senior Vice President, SBI Funds Management Limited, during a ceremony held at Dak Bhawan, New Delhi.

With a nationwide presence of over 1.64 lakh post offices, India Post is uniquely positioned to extend financial services to even the most remote parts of the country. This partnership aims to bridge the accessibility gap by ensuring that investors—especially in rural and underserved regions—can complete mandatory KYC formalities conveniently and securely.

Under the partnership, trained personnel from India Post will visit investors’ residences to collect KYC documents and application forms. This approach not only enhances compliance and security but also addresses challenges faced by senior citizens, individuals with limited mobility, and those in areas lacking access to traditional financial institutions.

The collaboration directly supports the Jan Nivesh initiative, which aims to boost participation in India’s capital markets, and aligns with the broader goals of the Digital India mission. By offering KYC services at the doorstep, the initiative seeks to demystify investment processes and increase awareness about financial compliance among the general public.

India Post has previously demonstrated its capability in managing large-scale KYC operations through successful partnerships with UTI Mutual Fund and SUUTI. In these engagements, the department completed over 500,000 KYC verifications, highlighting its operational efficiency and trustworthiness.

This new collaboration with SBIFM underscores India Post’s growing role as an enabler of digital onboarding and investment participation. The department is actively pursuing additional partnerships with public and private sector financial institutions to expand its role in financial literacy and service delivery.

With a strong infrastructure, credible workforce, and wide-reaching network, India Post is well-positioned to support India’s vision of inclusive, tech-enabled financial services for all.

In a significant step towards simplifying mutual fund onboarding and promoting financial inclusion, the Department of Posts (DoP) has partnered with SBI Funds Management Limited (SBIFM), one of India’s leading asset management companies. A Memorandum of Understanding (MoU) signed between the two entities enables India Post to provide doorstep Know Your Customer (KYC) verification services for investors of SBI Mutual Fund.The MoU was signed by Ms. Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Posts, and Mr. Munish Sabharwal, Senior Vice President, SBI Funds Management Limited, during a ceremony held at Dak Bhawan, New Delhi.With a nationwide presence of over 1.64 lakh post offices, India Post is uniquely positioned to extend financial services to even the most remote parts of the country. This partnership aims to bridge the accessibility gap by ensuring that investors—especially in rural and underserved regions—can complete mandatory KYC formalities conveniently and securely.Under the partnership, trained personnel from India Post will visit investors’ residences to collect KYC documents and application forms. This approach not only enhances compliance and security but also addresses challenges faced by senior citizens, individuals with limited mobility, and those in areas lacking access to traditional financial institutions.The collaboration directly supports the Jan Nivesh initiative, which aims to boost participation in India’s capital markets, and aligns with the broader goals of the Digital India mission. By offering KYC services at the doorstep, the initiative seeks to demystify investment processes and increase awareness about financial compliance among the general public.India Post has previously demonstrated its capability in managing large-scale KYC operations through successful partnerships with UTI Mutual Fund and SUUTI. In these engagements, the department completed over 500,000 KYC verifications, highlighting its operational efficiency and trustworthiness.This new collaboration with SBIFM underscores India Post’s growing role as an enabler of digital onboarding and investment participation. The department is actively pursuing additional partnerships with public and private sector financial institutions to expand its role in financial literacy and service delivery.With a strong infrastructure, credible workforce, and wide-reaching network, India Post is well-positioned to support India’s vision of inclusive, tech-enabled financial services for all.

Next Story
Infrastructure Transport

NHAI to Build 6-Lane Agra-Gwalior Expressway on BOT (Toll) Mode

To enhance connectivity between the tourism hubs of Agra and Gwalior, National Highways Authority of India (NHAI) will develop 88 km long 6-lane access controlled Agra-Gwalior Greenfield Expressway (NH-719D). NHAI, today signed a concession agreement for the implementation of project with GR Infraprojects, in presence of NHAI Chairman, Santosh Kumar Yadav and senior officials of NHAI and the Concessionaire. The Agra-Gwalior Greenfield Expressway will start from Deori village in Agra and terminate at Susera village in Gwalior. The project shall be developed at a Total Capital Cost of Rs 46.13 b..

Next Story
Infrastructure Transport

Cabinet Nods 166.8-km NH-6 Greenfield Corridor on HAM Mode

The Cabinet Committee on Economic Affairs chaired by the Prime Minister Narendra Modi has approved the proposal for Development, Maintenance and Management of 4-lane Greenfield Access Controlled 166.80 km of National Highway No. 06 from Mawlyngkhung (near Shillong) in Meghalaya to Panchgram (near Silchar) in Assam on Hybrid Annuity Mode as an access controlled greenfield High-Speed Corridor at a total capital cost of Rs 228.64 billion. The project length of 166.80 km lies in Meghalaya (144.80 km) and Assam (22.00 km). The proposed Greenfield high-speed corridor will improve the service level ..

Next Story
Infrastructure Urban

Commercial Ops Begin at Multi-Modal Logistics Park in Nagpur

Under the PM Gati Shakti initiative of Prime Minister with the aim to provide seamless and efficient connectivity for the movement of people, goods and services across various modes of transport, thereby enhancing last-mile connectivity and reducing travel time, and under the guidance of Union Minister of Road Transport and Highways, Nitin Gadkari, the Multi Modal Logistics Park, Nagpur (MMLP Nagpur) at Sindi, near Wardha commenced its commercial operations with a goal to establish a faster link. The MMLP Nagpur established by National Highway Logistics Management (NHLML), a 100 per cent own..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?