Budget 2023: Finance Minister Nirmala Sitharaman suggested one stop solution! Now there will be no problem in KYC process
Union Finance Minister Nirmala Sitharaman has given a big relief regarding KYC in this budget.
To make the KYC process easier, they have changed its method.
He has suggested a one stop solution to authenticate the identity and address of individuals.
New Delhi. Union Finance Minister Nirmala Sitharaman presented the budget in Parliament yesterday. In this budget, the Finance Minister has given a big relief regarding KYC. To make the KYC process easier, they have changed its method. Let us tell you that till now everyone’s KYC has been done in the same way, but now soon there will be KYC on the basis of risk (Risk-based KYC).
Talking about this in her budget speech, Finance Minister Sitharaman said that all the regulators of the financial sector will be encouraged for this so that the KYC system can be developed according to the needs of Digital India.
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One stop solution suggested
Finance Minister Nirmala Sitharaman has suggested a one stop solution to authenticate the identity and address of individuals. The Finance Minister has announced that various government agencies, regulators and regulated entities will be provided with a single point arrangement for matching and updating identity and address through DigiLocker service and Aadhaar.
Know, what is DigiLocker?
Let us tell you that DigiLocker is an ambitious plan of the Government of India. It contains data stores of Indians. This is a kind of online cloud storage service providing system. Because of this, now the hassle of carrying our documents everywhere is over. In this app, you can keep important documents like Aadhaar to Driving License.
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Tags: Budget, Budget 2023, budget session, business news, business news in hindi, Digital India, Finance Minister Nirmala Sitharaman, FM Nirmala Sitharaman
FIRST PUBLISHED : February 03, 2023, 08:35 IST