Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. Rakesh Watal, Head Liability Operations Western Region, HDFC Bank
- Mr. Sony A, Jt. General Manager, South Indian Bank
- Mr. Sunil Dalal, Managing Director at Softcell Technologies Global Pvt Ltd
- Mr. Ketan Doshi, Managing Director Paypoint India Network Pvt Ltd
- Mr. Subbiaa Olimuthu, former Product Manager – RuPay Product
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
So, one of the community members highlighted an issue faced while using Bank of Baroda insta-click savings account opening, He says “once I gave PAN number, it rejected showing PAN number-name mismatch while the name entered in the form which was actually correct, although the screen experience was good it showed an error and all the entered data got vanished, and I was unable to open the account in spite of PAN name matching with the name entered in the form.”
Another member mentions, “this issue has been big problem personally for me all my life I’ve never expanded my initial, my birth certificate, driving license, 3 degrees all have it “ABCD U” but on PAN they expanded my initials “U” which I never knew and the PAN card still shows “ABCD U”. And, all my banking KYC gets rejected because of this messy system.”
Well, PAN-Aadhaar name matching is an interesting challenge!
- You will face difficulty if your name is different on PAN and Aadhaar card, you’ll have a problem with linking both the documents even if there is a minor mismatch.
- Indian names with surname combinations can pose a serious challenge when comparing two ID documents and many banking KYC gets rejected due to this name mismatch challenge.
- Even though steps were taken by the government to provide customers the option to correct/modify their names on these documents through online procedures but, shouldn’t common rule/regulations be followed by all the government agencies?
So, what could be the right approach? REGISTER and READ the complete FIAKS bespoke discussions