what is kyc ?why it is necessary and what is its full form?

My this blog is as much interesting as more important because you should know about it and you'll find it necessary too.
this is all about KYC full information if you don't have full knowledge about it then i will here to let you know what is it ?

kyc is very much important now a days as it require everywhere for opening bank accounts ,bak lockers ,investing in mutual funds ,online transition etc. if you don't know any thing about it then i am here to clear your every question in simple and easy language .

for your kind information full form of KYC is know your customer .while completing your kyc means company or bank wants to know about you by asking you some documents of yours with your address and photo ID proof . these documents are knwn as your KYC documents.

These documents are asked by banks to submit when we are going to open new account or investing in mutual funds or doing online transiction.

even when we buy new sim card we are required to apply and submit our adahar card as our KYC documents.this process is also known as KYC .

Documents required for KYC process;

1. Address proof
2. Passport size photo
3. Identity proof
   4.Pan card(it is not required as address proof)
   5.Passport
   6.Adhar card
   7.DL
   KYC is importants in banks and financial state .if this process is completed then fraud ,crime chances should less.

hope i had cleared all your doubts about KYC . why it is important and all ?
please let me know how you like it ?