afaqs! news bureau

One video call to complete your KYC and to open a Kotak bank account

It's for Kotak's 811 account - India's first zero-contact, video KYC saving account.

The Reserve Bank of India in January 2020 allowed banks to use video calling to complete the Know Your Customer (KYC) process for those who want to open a bank account.

Kotak Mahindra Bank has now integrated this facility into its account opening process, becoming the first bank to do so in the nation. It is for its 811 savings account. The bank terms it "India's first zero-contact, video KYC saving account".

Also Read: Kotak Mahindra Bank plays inclusion card

It had Bollywood actor Ranveer Singh, its brand ambassador, feature in an ad to illustrate the ease and benefits of this process considering the health crisis we're in.

The Kotak 811 is zero-balance savings account that you can open online.