HDBFS Becomes 1st NBFC To Launch NPCI’s e-KYC Setu System

Current Context: HDB Financial Services (HDBFS) has indeed become the first non-banking financial company (NBFC) to integrate the National Payments Corporation of India’s (NPCI) e-KYC Setu System.

• This system, developed in collaboration with the Unique Identification Authority of India (UIDAI), aims to streamline the account opening process by offering a fully digital, secure OTP-based journey.
• This integration allows HDBFS customers to open loan accounts without the need for physical documentation or branch visits, making the process faster and more convenient.
• The initiative is expected to enhance customer experience and support India’s digital transformation efforts.

Question:

1 Which company became the first NBFC to integrate the e-KYC Setu System?

• A) HDFC Bank
• B) Bajaj Finserv
• C) HDB Financial Services
• D) ICICI Bank

Answer: C) HDB Financial Services (HDBFS) has indeed become the first non-banking financial company (NBFC) to integrate the National Payments Corporation of India’s (NPCI) e-KYC Setu System.