Kotak Mahindra Bank introduced an instant current account opening for individuals through biometric mode and a scan-based process for sole proprietorship accounts. The Aadhaar-based biometric account opening process enables instant opening and activation of a current account for self-employed professionals and non-professionals. Sole proprietorship businesses can open a current account with Kotak through a scan-based process that reduces the turnaround time to open a current account from six to seven days earlier to just one day. Puneet Kapoor, senior executive vice president of the bank, said the biometric and scan-based process will now offer the benefits of a hassle-free and instant account opening experience to individual and sole proprietorship companies seeking to open current accounts. Self-employed individuals and owners of sole proprietorships can now enjoy easy access to a range of banking services tailored for their businesses, he added.
