What is In-Person Verification (IPV), and why is it required?

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In-Person Verification (IPV) is the essential step to confirm that the person opening the account matches the documents provided. According to regulations, we complete the IPV process in the EKYC application –

Self-Verification:, You have the option to complete the IPV process on your own. When you are in the process of completing your EKYC application, you will come across an option for “Taking a Selfie” Click on it, and your camera will activate. You can then capture a clear image of yourself. Ensure that you remove any eyeglasses and that your face is clearly visible. After capturing the image, you can crop it as needed and then click on ‘submit.’ This is done to check the liveliness of the image and hence completion of the IPV requirement.