India Post and SBI Mutual Fund Partner to Simplify KYC with Nationwide Doorstep Services

The partnership, established through a Memorandum of Understanding (MoU), promises to revolutionize the Know Your Customer (KYC) process by leveraging India Post’s unparalleled reach across the country.

In a transformative move towards greater financial inclusion and ease of investment, the Department of Posts (DoP) has joined forces with SBI Funds Management Limited (SBIFM) to offer doorstep KYC verification services for mutual fund investors. The partnership, established through a Memorandum of Understanding (MoU), promises to revolutionize the Know Your Customer (KYC) process by leveraging India Post’s unparalleled reach across the country.

The MoU was formally signed at a ceremony held at Dak Bhawan, New Delhi, with Ms. Manisha Bansal Badal, General Manager, Business Development Directorate, Department of Posts, and Mr. Munish Sabharwal, Senior Vice President, SBI Funds Management Limited, representing their respective organizations.

Empowering Investors through Doorstep KYC Services

Through this initiative, India Post’s vast infrastructure of over 1.64 lakh post offices — spanning urban centers, rural towns, and remote villages — will be mobilized to simplify the customer onboarding experience. Trained postal staff will visit investors at their homes to collect KYC forms and required documents, ensuring a secure, accurate, and private process.

This service will especially benefit senior citizens, individuals with mobility issues, and residents of remote or underserved regions, who often struggle to access traditional banking services. By eliminating the need for investors to travel to physical branches, the collaboration will provide significant convenience and promote a more inclusive financial environment.

Supporting National Missions: Jan Nivesh and Digital India

The partnership aligns closely with the objectives of the Government of India’s Jan Nivesh initiative, which aims to increase retail participation in India's capital markets by making investment processes accessible to a broader segment of society. It also supports the Digital India campaign by facilitating digital financial services and spreading financial literacy among marginalized communities.

By making the KYC process accessible and understandable to rural populations, India Post and SBIFM are helping to build a robust investment ecosystem across India. This will empower more individuals to participate in mutual fund investments, thereby contributing to the broader goal of nationwide financial empowerment.

Proven Capability: Building on Past Success

India Post’s capabilities in handling large-scale KYC verification are well-established. Previously, India Post successfully collaborated with UTI Mutual Fund and SUUTI (Securities and Exchange Board of India’s public sector fund initiative) for KYC verification projects. In these partnerships, India Post efficiently managed over 5 lakh KYC verifications within a short time, demonstrating its operational strength, commitment to security, and scalability.

Looking Ahead: Broadening Horizons in Financial Services

Beyond the SBI Mutual Fund partnership, India Post is actively seeking further collaborations with public and private financial institutions to broaden access to financial services. With its extensive infrastructure, trusted workforce, and nationwide reach, India Post envisions a significant role in promoting financial literacy, digital onboarding, and investment awareness among Indian citizens.

Additionally, this model of doorstep KYC services could soon expand into other areas of financial services, including insurance, pension schemes, and digital banking solutions, further deepening financial penetration into India’s heartlands.

The strategic partnership between India Post and SBI Funds Management Limited marks a pivotal step toward making mutual fund investments more accessible and inclusive. By enabling doorstep KYC verifications, the initiative not only simplifies a critical compliance step but also strengthens India's larger financial inclusion and digital transformation missions.

Through continued innovation and collaboration, India Post is poised to play a central role in shaping a more equitable, informed, and digitally connected investment landscape for India’s future.