New Delhi. With the increasing use of the internet, many tasks have become easier these days. Earlier, we had to go to the bank again and again for most of the banking related work, but now they can be done just through a mobile phone.
With the entry of technology in the banking sector, opening an account has become easy. Many banks in the country are providing you the facility of opening an account from home. In this series, the public sector Indian Overseas Bank has started Aadhaar-OTP based account opening and application programming interface (API) banking facilities on the occasion of its 89th foundation day celebrations. A top official gave this information on Tuesday.
This initiative is designed to provide simplified banking services to both individual and corporate customers. The Chennai-headquartered bank has introduced Aadhaar-OTP based account opening facility, allowing customers to easily open savings accounts through the bank’s website.
You will get rid of paperwork
The bank said, “This digital process follows the Reserve Bank of India’s (RBI) ‘Aadhaar’ OTP-based e-KYC (Know Your Customer) guidelines, ensuring a secure and hassle-free experience. With minimal documentation, customers can open an account quickly and as per regulatory norms, subject to transaction limits.”
API banking facilities launched
Meanwhile, to meet the growing need for automation in corporate banking, Indian Overseas Bank said it has launched API banking services, under which corporate customers will be able to carry out transactions and intra-bank transfers directly from their accounting systems on a ‘real time’ basis.
Related Articles:-
- These Post Office Saving Schemes give guaranteed returns…
- FASTag Rule Change: Must check these 5 new rules of FASTag, otherwise you will have to pay double toll tax.
- Bank Interest Rate Cut: This bank reduced interest rates on savings a/c by 50bps, know the new rates
- High Return on FD: These 3 banks are offering up to 9.5% annual return, know full details
- Bank Deposit Insurance: Central government is preparing to increase the deposit insurance limit, check details
