As SEBON and CDSC are working to implement biometric centralized digital KYC from 1st of SHRAWN of 2079 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) enrolls 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 than 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 IPO. But if they are able to adopt a KYC verification system then there is a high chance of getting an IPO allotment.
1. When will SEBON and CDSC are going to implement Biometric KYC Verification?
Ans: SEBON and CDSC are working to implement biometric centralized digital KYC from the 1st of SHRAWN of 2079 B.S.