In Person KYC for PAN Cards…. ?
In case, the FM wishes to avoid a new set of PAN cards, then “In Person KYC of existing PAN Cards” can be arranged.
For investing in Mutual Funds, SEBI had come out with “In Person KYC” and had declared previous KYC as non-existent. Likewise, an action could be taken for PAN Cards also.
And like a retired person is required to submit a proof of one’s own existence every five years, the “In Person KYC” should get repeated after few years, say after every TEN years.
Naturally, an application form shall have to be filled for all such KYCs, and the fields needed to be mandatory, could be decided by the department from time to time, and that must include the details for Aadhar card.
To say that “Keep only Aadhar card reference and cancel all others like PAN cards” shows that the person saying so has not understood the size of such operations and the difficulties involved.
Possibly, the current government wanted to do exactly the same, but cannot do it due to a court order. That is a dead end. Then everyone keeps quiet, and a solution is not found. Instead, one must take all the points into consideration before taking an action.
There should NOT be any problem for the government deciding to have “In Person KYC for PAN Cards” because in person KYC already exists for investing in Mutual Funds. more
For investing in Mutual Funds, SEBI had come out with “In Person KYC” and had declared previous KYC as non-existent. Likewise, an action could be taken for PAN Cards also.
And like a retired person is required to submit a proof of one’s own existence every five years, the “In Person KYC” should get repeated after few years, say after every TEN years.
Naturally, an application form shall have to be filled for all such KYCs, and the fields needed to be mandatory, could be decided by the department from time to time, and that must include the details for Aadhar card.
To say that “Keep only Aadhar card reference and cancel all others like PAN cards” shows that the person saying so has not understood the size of such operations and the difficulties involved.
Possibly, the current government wanted to do exactly the same, but cannot do it due to a court order. That is a dead end. Then everyone keeps quiet, and a solution is not found. Instead, one must take all the points into consideration before taking an action.
There should NOT be any problem for the government deciding to have “In Person KYC for PAN Cards” because in person KYC already exists for investing in Mutual Funds. more
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Mr. Mangesh Anaokar sir, there is a website JeevaPrmaan https://jeevanpramaan.gov.in/ Where all the details of prove of being alive for defferent catagories of pensiom are provided. Either you can go to the nearest centre and regisiter then every year go there and prove you are alive by a finger print scanner, or you can buy a prescribed scanner online and if you have broadband and computer, register yoursef with AADHAAR and Mobile number and do it yourself from home, which I do for my wife since I have no pension. Expilicit information is available in the site about how to download their software and iinstall the fingerprint scanner. It is not that difficult. I am doing it for last three years. You can help your nabours too. more
Jun 19
What is wrong with old KYC . This definitely establishes the true & valid proof of the customer''s identity so far as the banking business is concerned. Why you want In person KYC?. We are producing more IDS for little things at Bank desk. Passport ,Pancard, aadhar card,KYC& bank book , bank cheque book etc etc how many personal proofs we need that you the only & justified person to deal with "Own" money. The country has gone mad bringing all these legislations. more
Jun 19
I suggest that all KYC be linked with aadhar card and verification will be easy. Just putting thumb impression on any transaction through aadhar card, all kyc be automatically validated by say one year. This will also benefit the retirees a lot, as eveytime they need not submit the life verification certificates,if they do any tansaction by putting thumb during the year. more
Jun 19
The in person KYC is uncalled for banks or IT filing, there will be crores of suggestions like this if Govt starts asking for suggestions from all citizens. more
Jun 18
I think this is all kiosk in the financial world of the country. We are continuously producing more 'Paperwork' than actual productive & functional work status. We should understand what we are doing as we are paying thro' TDS so why these newly-created digital cards to confound one''s personal & confidential identities. Do the GOI need these when there is police , IT & other "snooping" agencies are there to find out more money-laundering. More tax-catching exercises to be carried out in more subtle & secretive ways than exposing whole 'poor & unrelenting' communities taken to these banking tasks linking the Aadhar card to Pan card with more queues &social cues . Stop this nonsense & snoop around more tax-dodgers. Imagine time wasted in this process of financial democracy in the wake of frugal rupee. more
Jun 18
For EPF every year one living certificate is needed by the PF Commissioner. more
Jun 18
