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Business News/ Industry / Axis Bank partners with eMudhra for e-signature facility
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Axis Bank partners with eMudhra for e-signature facility

Under the eSign Service, individuals with Aadhaar numbers will be able to digitally sign documents to submit to the bank online

Photo: MintPremium
Photo: Mint

Mumbai: In a step towards greater customer service through technology, Axis Bank Ltd has introduced e-signature services through which individuals having Aadhaar numbers will be able to digitally sign documents to submit to the bank online, the lender said in a statement on Friday.

Axis Bank, India’s third-largest private sector lender, has partnered with digital security company eMudhra for the eSign service. “The service rides on Aadhaar authentication and generates the digital signature automatically. The generated signature is legally valid and secure," said the bank.

eMudhra launched the eSign service earlier in July.

While filling an application form for any product of the bank, a customer can request for fixing a digital signature. An instant authentication through the customer’s Aadhaar number generates a valid eSign, after which the customer can proceed to submit documents online. Both existing customers and new customers can avail the service.

“eSign will be integrated with a host of bank’s products and will help in quicker, more efficient and secure processing of customer requests," said Rajiv Anand, group executive and head (retail banking) at Axis Bank.

At present, a customer has to submit a hard copy of the application form signed along with copies of relevant documents to apply and avail of any product or service of a bank. The Reserve Bank of India (RBI) mandates banks to acquire basic information of the customer along with proofs for identity, domicile, etc., under know-your-customer (KYC) norms.

The Narendra Modi-led government has been pushing for adoption of technology across India under the label of Digital India. The government launched several technological services in July, one of which was e-signature.

eSign offers the functionality to authenticate signers and perform the digital signing of documents using Aadhaar eKYC service while submitting documents to agencies.

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Updated: 19 Dec 2015, 12:18 AM IST
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