Your Know-Your-Customer (KYC) details are a must, whether you are opening a bank account, investing in a mutual fund, or purchasing a life insurance policy. However, it's not just a one-time task; in certain cases. you may need to update your KYC documents multiple times. For many people, this process can seem like a hassle. To simplify and streamline this process, the Financial Stability and Development Council (FSDC) has proposed implementing a uniform KYC system to verify customers across the financial sector.