The Department of Telecommunications (DoT) has made a pivotal announcement that has been greeted with enthusiasm by major telecom operators like Airtel, Reliance Jio, and Vodafone-Idea across the country. Effective January 1, 2024, the DoT has declared the cessation of paper-based KYC (Know Your Customer) verification for enrolling mobile users, marking a significant shift in the enrollment process.
The existing procedure entails the cumbersome task of filling out paper forms, attaching photographs, and submitting physical copies of identity and address proofs. However, this traditional method will soon be supplanted by a fully digital KYC process, leveraging updated regulatory protocols.
In a notification released on Tuesday, the DoT stated, "Considering various amendment/changes made in the existing KYC (Know Your Customer) framework from time to time, it has been decided that the use of paper-based KYC process, as envisaged in instructions, dated 09.08.2012, shall be discontinued with effect from 1.1.2024."
The DoT's decision to phase out the paper-based KYC system aligns with recent amendments to the prevailing framework. Experts anticipate that this move will substantially reduce customer acquisition expenses for telecom companies while aiding the government's endeavors to combat fraudulent activities.
This decision follows the DoT's earlier announcement in August 2023, introducing stricter verification prerequisites for mobile phone number applicants and Point of Sale (PoS) entities. This initiative aimed to address concerns about fraudulent activities linked to compromised PoS entities and came into effect from December 1.
Industry executives have welcomed the decision to transition from paper-based to digital KYC for mobile user enrollments, foreseeing a reduction in telcos' acquisition costs and heightened security against SIM card fraud. Telecom companies have consistently cautioned subscribers about rising instances of SIM card-related scams, making this transition a proactive step in curbing fraudulent activities.
🕑 03 May, 2024 12:32 PM
Finance Ministry notifies LIC’s 17% wage revision
🕑 03 May, 2024 10:04 AM
Validity of CGHS empanelled Health Care Organizations (HCO’s) extended
🕑 29 Apr, 2024 09:55 PM
DoPT Clarification on increase in allowances by 25%
🕑 24 Apr, 2024 09:17 AM
DoPT forwards 8th Pay Commission demand by IRTSA forwarded to Fin Min
🕑 23 Apr, 2024 10:01 AM
CGDA: Revision of rates of Allowances with DA rates increased to 50%
🕑 22 Apr, 2024 12:59 PM
CBDT: on DoPT order on regularization of Casual Workers
🕑 21 Apr, 2024 09:54 PM
DoPT Consolidated Instructions on SC, ST, OBC, PwD & EWS reservation
🕑 18 Apr, 2024 11:51 AM
Timeline extended for CGHS Beneficiary ID - ABHA ID linking
🕑 10 Apr, 2024 08:35 AM
Kendriya Vidyalaya Sangathan Admission Guidelines 2024-2025
🕑 05 Apr, 2024 01:23 PM
Kendriya Vidyalaya Balvatika Admission Schedule - 2024-25
🕑 02 Apr, 2024 09:25 AM
Kendriya Vidyalaya Admissions Open for 2024-25: Key Dates & Appln Process
🕑 01 Apr, 2024 09:23 AM
Kendriya Vidyalaya (KV) schools where Balvatika is functioning
🕑 14 Mar, 2024 02:07 PM
Govt bans 18 vulgar 18 OTT. See the list here
🕑 08 Mar, 2024 01:49 PM
Pension Scheme Gains Traction Across States, Despite Central Hurdles
🕑 20 Feb, 2024 11:17 PM
CGHS rate for general surgery applicable from February 1, 2024
🕑 08 Feb, 2024 10:19 AM
No loan interst change as RBI maintains repo rate at 6.50% for the 6th time