Biometric Centralized KYC To Apply IPO In Nepal

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BIOMETRIC CENTRALIZED KYC Process in Nepal

As SEBON and CDSC are working to implement biometric centralized digital KYC from the 1^st of SHRAWN of 2080 B.S., a lot of questions and queries are raised regarding this. If you are unknown about the biometric centralized KYC, then here you will be known about it. SIMPLY, biometric KYC (know your customer) enrols the authentication verification on the basis of fingerprint verification, Iris verification, Face verification, and palm verification.

Basically, SEBON and CDSC are going to implement this system to control the application of IPO creating fake/other accounts by a single person. After the implementation of this system, one person can apply for an IPO once at a time. This will increase the possibility of allotment of IPO for the people earlier.

The KYC verification will be online a person has not to be present physically to verify their KYC form. But the question raised how they will secure our information. It sounds not applicable to apply biometric verification at this time. But if they are able to do the biometric verification then it will be helpful to most people. The IPO is being oversubscribed by more than 20 times which become hard to get an IPO. But if they are able to adopt a KYC verification system then there is a high chance of getting an IPO allotment.