Karnataka Vikas Grameena Bank (KVGB) has signed a memorandum of understanding with ‘Jai Kisan’ (a rural-focused fintech platform of Greenizon Agritech Consultancy Pvt Ltd) to expand access to financial services to individuals and businesses in Karnataka, including farmer and non-farmer entrepreneurs.
A press release said that P Gopikrishna, Chairman of KVGB, and Arjun Ahluwalia, founder and CEO of Jai Kisan, signed the MoU in Dharwad.
Gopikrishna said that the bank intends to extend its services to small and micro enterprises (SME), joint liability groups (JLG), self-help groups (SHG), and to farmers through Kisan Credit Card (KCC) and credit for farm mechanisation efforts through its partnership with Jai Kisan. This partnership will enable them to systemically increase reach and serve consumers and create grassroots level impact by extending low-cost credit to the rural ecosystem in nine districts’ service area. KVGB has jurisdiction over Dharwad, Gadag, Haveri, Bagalkot, Vijayapura, Belagavi, Uttara Kannada, Udupi, and Dakshina Kannada districts.
The release said that Jai Kisan would procure a diverse range of clients for KVGB and enable end-to-end operations and facilitation of credit and other financial services for customers via its technology capabilities.
Caspian Debt, a digital corporate lending services company, has partnered with Chennai-based Villgro, an incubator of early-stage social enterprises, to provide debt solutions to start-ups that aim to create a positive social or environmental impact.
Villgro’s portfolio company, Bharat Rohan, a Lucknow-based Agri-tech startup was the recipient of the first loan of ₹25 lakh. Bharat Rohan uses unique UAV/drone based hyperspectral remote sensing and artificial intelligence in precision agriculture, integrated pest management and contract farming.
“Emerging social enterprises in India face the challenge of having limited access to debt due to the lack of credit history and an existing negative feedback nexus between credit history and access to debt. Through this partnership with Villgro, we will provide the first set of debts by the end of Q3 2021. We look forward to working closely with the team at Villgro to identify these promising start-ups,” S Viswanatha Prasad, Managing Director, Caspian Debt.
“Invention based enterprises face a near impossible task of accessing capital during their early days. This partnership is built on the insight that it only needs a small amount of capital to catalyse business operations, and that credit risk can be reduced using innovative methods to enable access to this capital,” said Srinivas Ramanujam, CEO Villgro India.
Searching for a low-interest loan while going to purchase a house, we all know that the lowest rates are offered by a certain segment. The list of lenders providing the cheapest home loans is driven by state-owned banks but when it comes to private sector banks Kotak Mahindra Bank holds the first position in our list with an interest rate of 6.75% followed by 6.8 percent of Punjab National Bank. For home loans of Rs 75 lakh with a term of 20 years, the interest rates of the top 15 lenders providing the lowest home loan rates vary from 6.75-6.95 percent. Whereas the commercial giant is currently providing an interest rate of 7.2 percent on home loan for the same loan amount.
Home Loans With The Lowest Interest Rates
Sr No.
Banks
ROI per annum in %
1
Kotak Mahindra Bank
6.75
2
Punjab National Bank
6.80
3
Bank of India
6.85
4
Central Bank of India
6.85
5
Bank of Baroda
6.85
6
Canara Bank
6.90
7
Punjab & Sind Bank
6.90
8
Union Bank of India
6.90
9
Axis Bank
6.90
10
UCO Bank
6.90
11
IDBI Bank
6.90
12
LIC Housing Finance
6.90
13
Bajaj Finserv
6.90
14
Tata Capital
6.90
15
Can Fin Homes Ltd
6.95
Home loan interest rates for all public and private sector banks classified (BSE) and housing finance firms as stated on the website of the National Housing Bank (NHB) providing home loans of up to Rs 75 lakh are listed here. There is no consideration for banks and HFCs for which data is not accessible on their portals. On the above table, banks and HFCs are classified in increasing order on the basis of interest rate, i.e. banks/HFCs with the lowest home loan interest rate are classified at the top and the strongest at the end. The table reflects the lowest rate offered by the bank/HFC on a loan of Rs 75 lakh. EMI is determined on the basis of the interest rate pointed in the table for the 20-year tenure of the Rs 75-lakh loan amount.
Home loan eligibility criteria
One must meet with the following criteria to apply for a home loan:
The individual must have a minimum age of 18 years up to a limit of 70 years while applying for a home loan.
The applicant must be a Resident Indian, Non-Resident India (NRI) or Person of Indian Origin (PIO)
The applicant must be salaried or self-employed
Must have a minimum net annual worth of 5 to 6 lakhs
The applicant must have a minimum credit score of 750 or more
Documents required to apply for a home loan
One must have the following documents ready while applying for a home loan:
Identity proof: Driving License, PAN, Aadhaar Card, Voter ID or Passport
Residence proof: Proof of utility bill payments and copy of Passport, Aadhaar Card or Driving License
Income proof: IT returns for the last 3 years, Certificate of Qualification (for Doctors/CA and other individuals), Business License Details and address proof, TDS Certificate, salary proof for the last 3 months, Form 16 or Income Tax Returns for the last two years and Balance sheet and Profit and Loss account for the previous 3 years inspected by a qualified CA.
Other: Identity Card of the employer, passport size photographs, duly filled home loan application form, Loan account statement for the last 12 months, if any, and bank account statements for the last 6 months.
Papers of the property: Registered or Stamped Agreement of Sale, Allotment Letter, If the house is a ready-to-move-in property, the occupancy certificate is required, Proof of the builder’s Approved Project and Registered Development agreement, Conveyance Deed in the instance of a new estate, and Bank account details reflecting all payments to the dealer or builder rendered.
For investment related articles, business news and mutual fund advise
Faced with muted growth in premium and high Covid claims, general insurance companies are hopeful that lower number of non-Covid related health insurance claims as well as the falling Covid cases will help them improve their balance sheets.
According to data with the General Insurance Council, 8.03 lakh Covid related claims amounting to ₹12,184.09 crore were filed by January 11, 2021. Of this, 6.26 lakh cases worth ₹6,109.81 crore had been settled while 1.77 lakh claims are pending.
“Health claims are still under control and are being offset by lower number of non-Covid claims,” noted an executive with a general insurance company, pointing out that many people are still postponing elective surgeries.”
‘Still manageable’
“Covid related claims were becoming a bit worrying for the industry. But since a large number of elective surgeries are getting postponed, it has helped to offset the loss. Otherwise, it would have gone beyond control but retail claims are still manageable,” he noted.
According to industry estimates, about 15 per cent of Covid patients require hospitalisation and intensive medical care and file claims. The average claim amount is estimated at about ₹1.5 lakh.
“Typically natural catastrophes are built into projections but something like a pandemic is usually not factored in. Right now there is a decline in cases but the concern is about a second and third wave as is being seen in many European countries,” noted another insurer, adding that a large number of patients are also being advised home quarantine.
More clarity will be available in coming weeks as many of the listed general insurers start to report their third quarter results.
Meanwhile, non-life insurers registered 2.7 per cent premium growth in November 2020 but there are concerns about softening in health insurance premium. According to GIC data, health insurance premium grew by 12.96 per cent between April and November this year.
Despite the lower-than-normal sales traffic in the real estate sector, the affordable segment has emerged as the hot cake for the wannabe homebuyers. Post-Unlock, the segment witnessed improvement in the number of visits to the site, and the properties sold immediately first because of the pent-up demand and realisation of people to own their home, the boost in sales got further boost when home loan interest rates came down to around 7 per cent. Looking at the response to affordable projects in the post-pandemic months and with some developers getting over-subscription in their projects, the year 2021 is going to be phenomenal for this segment.
Talking about the reasons behind affordable being the choice of the buyers, Pradeep Aggarwal, Co-Founder & Chairman, Signature Global and Chairman, National Council on Affordable Housing, ASSOCHAM, says, “The affordable housing segment survived the onslaught merely because it caters to the price bracket that has maximum demand. Several factors worked in favour of affordable housing, including Rs 3.74-lakh crore liquidity infusion announced by the RBI on March 27, 2020, the CLSS extension announced in May, relief under EPF, etc. The biggest takeaway for the buyers, however, was the unprecedented cut in the repo rates, which resulted in home loan interests coming down to sub-7%. The tragedy also came as a blessing in disguise for the sector, especially the affordable housing segment, as the middle class was facing challenges in staying at rented accommodations. We have launched 19,200 units so far and intend launching 10,000 units by March 2021. As many as 5000 units are under the Haryana affordable housing policy, and another 5000 are under the Deen Dayal Jan Awas Yojana. We would be in a position to launch all 30,000 units by 2021.”
The turnaround after the COVID can be attributed to the fact that affordable housing is being promoted at war front with adequate support being extended to developers showing interest in this segment. To attract private participation, the government rolled out special incentives such as use permission, 50% additional FAR/FSI, concessional loans at priority sector lending rates and tax reliefs at par with affordable housing to develop ARHCs on their own available vacant land for 25 years.
The RBI was of the view that the Indian economy will register positive growth in the October-to-December festive quarter after six months of contraction if the economic upturn generated after lockdown sustained till the end of the year; this has proven to be true, with a fair amount of buyer’s interest being driven towards affordable housing. “After the Unlock was announced, we saw oversubscription in our projects that pointed towards the bright year ahead. The sector made a comeback in Q3 2020 with sales and new launches rebounding to almost 70% of the pre-COVID-19 levels. The affordable segment got maximum attention as it amounted to more than 60 per cent of the overall sales; the segment also saw a maximum number of new launches with 70% of the all the launches happening in this segment. The trend bodes well for the segment and encouraged by the response in 2020 more launches are likely to hit the market in 2021. We are also going to launch three more projects in 2021 in Gurugram,” says Rajat Goel, JMD, MRG World.
The performance of the segment can be gauged from the huge sales that happened post lockdown. Migsun Group, a leading real estate firm in Delhi-NCR, clocked sales of Rs 200 crore between October 1, 2020, and November 12, 2020; during the lockdown, the Group achieved the remarkable feat of selling 500 units worth Rs 252 crore between March 25 and June 3, 2020. “I would say that there is almost a 15 per cent increase in sales so far and the coming months will be better. Festival alone was not the reason as people’s trust in real estate has improved after the slew of measures taken by the government, decrease in EMIs, and understanding of real estate as a must-have asset. I would say that the mission ‘Housing for All’ is on the right track, and it is least affected by the pandemic roadblock. Five years after the implementation of PMAY (U) scheme, it has made steady progress across states, as around 1.06 crore homes have been sanctioned out of which 33% are completed while another 66.23 lakh units have been grounded for construction. All this means that affordable segment buyers will not have a dearth of projects to choose from,” said Yash Miglani, MD, Migsun Group.
Highlighting the opportunities Noida region provides for the affordable sector, Mr. Amit Modi, Director, ABA Corp. & President (Elect.), Western UP, said, “Affordable housing has been a game changer for twin cities of Noida and Greater Noida. These regions score high on every livability index due to the connectivity, infrastructure and price points offered by the developers. We have received an uptick of enquiries from genuine home buyers during lockdown. This increased number was attributed to our agility towards digital adoption, and virtual tools being used. A common myth associated with affordable housing has been broken by our projects, the range of amenities offered by us aim to deliver comfort in every corner of the home.”
The market for the affordable segment is looking quite promising, especially due to the optimistic economic growth being expected by the RBI. Also, the Apex bank has taken a number of measures that are going to have a positive impact on the overall sentiment of the real estate sector, and especially on the affordable housing segment as the buyers in this segment get affected by the changes in home loan interest rates the most. With home loan interest rates hovering around sub-7%, the affordable buyers are going to take advantage of the situation before the rates start to increase again. “In the coming years, affordable housing will prosper. People have realised the importance of owning a house, albeit a small, affordable one, during the pandemic and that is a positive,” Aggarwal concludes.
For investment related articles, business news and mutual fund advise
Despite the lower-than-normal sales traffic in the real estate sector, the affordable segment has emerged as the hot cake for the wannabe homebuyers. Post-Unlock, the segment witnessed improvement in the number of visits to the site, and the properties sold immediately first because of the pent-up demand and realisation of people to own their home, the boost in sales got further boost when home loan interest rates came down to around 7 per cent. Looking at the response to affordable projects in the post-pandemic months and with some developers getting over-subscription in their projects, the year 2021 is going to be phenomenal for this segment.
Talking about the reasons behind affordable being the choice of the buyers, Pradeep Aggarwal, Co-Founder & Chairman, Signature Global and Chairman, National Council on Affordable Housing, ASSOCHAM, says, “The affordable housing segment survived the onslaught merely because it caters to the price bracket that has maximum demand. Several factors worked in favour of affordable housing, including Rs 3.74-lakh crore liquidity infusion announced by the RBI on March 27, 2020, the CLSS extension announced in May, relief under EPF, etc. The biggest takeaway for the buyers, however, was the unprecedented cut in the repo rates, which resulted in home loan interests coming down to sub-7%. The tragedy also came as a blessing in disguise for the sector, especially the affordable housing segment, as the middle class was facing challenges in staying at rented accommodations. We have launched 19,200 units so far and intend launching 10,000 units by March 2021. As many as 5000 units are under the Haryana affordable housing policy, and another 5000 are under the Deen Dayal Jan Awas Yojana. We would be in a position to launch all 30,000 units by 2021.”
The turnaround after the COVID can be attributed to the fact that affordable housing is being promoted at war front with adequate support being extended to developers showing interest in this segment. To attract private participation, the government rolled out special incentives such as use permission, 50% additional FAR/FSI, concessional loans at priority sector lending rates and tax reliefs at par with affordable housing to develop ARHCs on their own available vacant land for 25 years.
The RBI was of the view that the Indian economy will register positive growth in the October-to-December festive quarter after six months of contraction if the economic upturn generated after lockdown sustained till the end of the year; this has proven to be true, with a fair amount of buyer’s interest being driven towards affordable housing. “After the Unlock was announced, we saw oversubscription in our projects that pointed towards the bright year ahead. The sector made a comeback in Q3 2020 with sales and new launches rebounding to almost 70% of the pre-COVID-19 levels. The affordable segment got maximum attention as it amounted to more than 60 per cent of the overall sales; the segment also saw a maximum number of new launches with 70% of the all the launches happening in this segment. The trend bodes well for the segment and encouraged by the response in 2020 more launches are likely to hit the market in 2021. We are also going to launch three more projects in 2021 in Gurugram,” says Rajat Goel, JMD, MRG World.
The performance of the segment can be gauged from the huge sales that happened post lockdown. Migsun Group, a leading real estate firm in Delhi-NCR, clocked sales of Rs 200 crore between October 1, 2020, and November 12, 2020; during the lockdown, the Group achieved the remarkable feat of selling 500 units worth Rs 252 crore between March 25 and June 3, 2020. “I would say that there is almost a 15 per cent increase in sales so far and the coming months will be better. Festival alone was not the reason as people’s trust in real estate has improved after the slew of measures taken by the government, decrease in EMIs, and understanding of real estate as a must-have asset. I would say that the mission ‘Housing for All’ is on the right track, and it is least affected by the pandemic roadblock. Five years after the implementation of PMAY (U) scheme, it has made steady progress across states, as around 1.06 crore homes have been sanctioned out of which 33% are completed while another 66.23 lakh units have been grounded for construction. All this means that affordable segment buyers will not have a dearth of projects to choose from,” said Yash Miglani, MD, Migsun Group.
Highlighting the opportunities Noida region provides for the affordable sector, Mr. Amit Modi, Director, ABA Corp. & President (Elect.), Western UP, said, “Affordable housing has been a game changer for twin cities of Noida and Greater Noida. These regions score high on every livability index due to the connectivity, infrastructure and price points offered by the developers. We have received an uptick of enquiries from genuine home buyers during lockdown. This increased number was attributed to our agility towards digital adoption, and virtual tools being used. A common myth associated with affordable housing has been broken by our projects, the range of amenities offered by us aim to deliver comfort in every corner of the home.”
The market for the affordable segment is looking quite promising, especially due to the optimistic economic growth being expected by the RBI. Also, the Apex bank has taken a number of measures that are going to have a positive impact on the overall sentiment of the real estate sector, and especially on the affordable housing segment as the buyers in this segment get affected by the changes in home loan interest rates the most. With home loan interest rates hovering around sub-7%, the affordable buyers are going to take advantage of the situation before the rates start to increase again. “In the coming years, affordable housing will prosper. People have realised the importance of owning a house, albeit a small, affordable one, during the pandemic and that is a positive,” Aggarwal concludes.
For investment related articles, business news and mutual fund advise
This is an ELSS scheme that helps you save tax. Amounts up to Rs 1.5 lakhs, qualify for tax rebate under Sec80c. The fund has generated solid returns of 16 per cent over the last 5 years and 17 per cent over the last 7 years on an annualized basis. Investors can also choose to invest through the Systematic Investment Plan route, given that the markets have rallied sharply in the last few months.
The NAV under the growth plan is currently Rs 74.92. It’s important to note that dividends are taxable on mutual funds and capital gains will apply, when you sell the units. The fund has holdings in large cap stocks like Reliance Industries, HDFC Bank, PI Industries, Kotak Mahindra Bank and Infosys. The assets under management of the fund is just Rs 351 crores, despite being rated as 5-star by Crisil and Value Research.
Canara Robeco Equity Tax Saver Fund
This again is a fantastic performer in terms of ratings from lead agencies, returns and its strong portfolio. Canara Robeco Equity Tax Saver Fund has given returns of 14.34 per cent on an annualized basis for three years and 15.35 per cent and 16.54 per cent over three and five years,
Again, the fund like most others has stuck to quality stocks like Infosys, ICICI Bank, HDFC Bank, Bajaj Finance, Tata Consultancy Services and Reliance Industries.
If you are looking to invest in the growth scheme the net asset value is Rs 89.82. There is an option to also invest through the SIP route, wherein the investor can invest small sums of Rs 500 every month. It’s important to remember that tax benefits are available only on investments upto Rs 1.5 lakhs.
Edelweiss Large Cap Fund
This is another ELSS scheme that has done well over the last 1 year. The fund has generated a returns of 19.66 over the last 1 year and 13.44 per cent on an annualized basis over the last 5 years. The returns of the fund since launching in 2009 has been more than 13 per cent.
Interestingly, the fund has almost 10 per cent in cash and the remaining invested in equities and debt, with equities contributing nearly 85.6 per cent to the portfolio. Edelweiss Large Cap Fund has a good portfolio, which has names like HDFC, Infosys, ICICI Bank and HCL Technologies. The minimum investment required under the plan is Rs 5,000.
If you are a long term investor, who also wants to save tax, this fund is good, as the portfolio is sound and so are some of the ratings.
About the author
Sunil Fernandes has spent 27 years tracking and covering stock markets for frontline investment and leading business dailies, including Hindustan Times, Deccan Herald, Oman Economic Review, Gulf Times and Dalal Street Investment Journal. Sunil is currently the Managing Editor for GoodReturns.in, a top personal finance and business news website. His areas of expertise include stocks, commodities, forex, mutual funds, banking and tax planning.
Visit the NSDL website and enter the required details such as PAN, Aadhaar and assessment year (AY).
Click on ‘Proceed’.
On your device screen, your income tax refund status will be displayed.
Steps to check ITR status through e-filing portal
Visit the website: www.incometaxindiaefiling.gov.in and sign in to your account using the required credentials such as PAN, password and captcha code.
Navigate to the ‘View Returns/Forms’ section and select the ‘Income Tax Returns’ option under the ‘My Account’ tab
Click on the acknowledgement number, and you will be redirected to a new page where you can check your income tax refund status.
You will get a notification if the refund has already been processed by the department.
List of status message you can get
As mentioned above, based on your refund status, you will receive a message; the displayed notifications are as follows:
Expired: This indicates that within the prescribed timeframe, the refund cheque collected from you was not deposited in the bank. The authenticity of a cheque shall be 90 days during which the taxpayer must submit the cheque to the bank in order to receive the refund. A taxpayer is mandated to submit a ‘refund re-issue request’ to the e-filing website in such a case.
Refund Returned: There are two explanations why it exists. If the income tax refund is forwarded to you via ECS (Electronic Clearing Service), if you have provided incorrect bank account information, the payment transfer will not proceed. If you have provided the incorrect address or your house was closed, a cheque or demand draft can be rejected.
Processed through direct credit but failed: This suggests that the bank started to directly credit the amount of the refund but refused to do so for any of the following plausible causes:
Your bank account has been closed
Your account related operations have been suspended, limited or on hold.
If your account is an FD, loan or any other account
If your account is a non-resident Indian (NRI) account
In case the account holder may have passed away
If the account related details are incorrect
Refund processed through NEFT/NECS but failed: This suggests that the refund issued through the NECS/NEFT mode missed. In this scenario, the account number, account details and MICR/IFSC code provided at the time of filing the return must be confirmed by the taxpayer.
Adjusted against outstanding demand of previous year: This suggests that the refund for the existing year has been changed either in part or in full against the outstanding claim for the previous appraisal year. Under section 245, the tax department has absolute control to do this. Such a measure, though, can only be made by sending the taxpayer a written statement about the initiative planned to be implemented.
ECS refund advice received but not reflecting in your bank account: You may have received an email from the bank providing information on the amount of the refund credited to your account. This mail may consist of- name of the beneficiary, the account number, the IFSC/MICR code, the NEFT UTR number, the NECS sequence number, and so on as found on the TIN portal. You must check with your bank if your bank account has not been credited with the same amount.
Steps to raise a refund re-issue request
Due to any of the errors listed above, you are required to file a refund re-issue application, for the same you can follow the below listed steps:
Visit www.incometaxindiaefiling.gov.in and head to the ‘My Account’ tab
Click on the ‘Service Request’ option and confirm request type as ‘New Request’ and request category as ‘Refund Reissue’.
Now you will be redirected to a new page where you will get details such as PAN, return type, assessment year, acknowledgement number, communication reference number and response.
Now click on ‘Submit’ and you will be asked to enter your bank account details and address details
To complete the process, you will have to follow the verification process using an electronic verification code (EVC) or digital signature certificate (DSC).
Visit the NSDL website and enter the required details such as PAN, Aadhaar and assessment year (AY).
Click on ‘Proceed’.
On your device screen, your income tax refund status will be displayed.
Steps to check ITR status through e-filing portal
Visit the website: www.incometaxindiaefiling.gov.in and sign in to your account using the required credentials such as PAN, password and captcha code.
Navigate to the ‘View Returns/Forms’ section and select the ‘Income Tax Returns’ option under the ‘My Account’ tab
Click on the acknowledgement number, and you will be redirected to a new page where you can check your income tax refund status.
You will get a notification if the refund has already been processed by the department.
List of status message you can get
As mentioned above, based on your refund status, you will receive a message; the displayed notifications are as follows:
Expired: This indicates that within the prescribed timeframe, the refund cheque collected from you was not deposited in the bank. The authenticity of a cheque shall be 90 days during which the taxpayer must submit the cheque to the bank in order to receive the refund. A taxpayer is mandated to submit a ‘refund re-issue request’ to the e-filing website in such a case.
Refund Returned: There are two explanations why it exists. If the income tax refund is forwarded to you via ECS (Electronic Clearing Service), if you have provided incorrect bank account information, the payment transfer will not proceed. If you have provided the incorrect address or your house was closed, a cheque or demand draft can be rejected.
Processed through direct credit but failed: This suggests that the bank started to directly credit the amount of the refund but refused to do so for any of the following plausible causes:
Your bank account has been closed
Your account related operations have been suspended, limited or on hold.
If your account is an FD, loan or any other account
If your account is a non-resident Indian (NRI) account
In case the account holder may have passed away
If the account related details are incorrect
Refund processed through NEFT/NECS but failed: This suggests that the refund issued through the NECS/NEFT mode missed. In this scenario, the account number, account details and MICR/IFSC code provided at the time of filing the return must be confirmed by the taxpayer.
Adjusted against outstanding demand of previous year: This suggests that the refund for the existing year has been changed either in part or in full against the outstanding claim for the previous appraisal year. Under section 245, the tax department has absolute control to do this. Such a measure, though, can only be made by sending the taxpayer a written statement about the initiative planned to be implemented.
ECS refund advice received but not reflecting in your bank account: You may have received an email from the bank providing information on the amount of the refund credited to your account. This mail may consist of- name of the beneficiary, the account number, the IFSC/MICR code, the NEFT UTR number, the NECS sequence number, and so on as found on the TIN portal. You must check with your bank if your bank account has not been credited with the same amount.
Steps to raise a refund re-issue request
Due to any of the errors listed above, you are required to file a refund re-issue application, for the same you can follow the below listed steps:
Visit www.incometaxindiaefiling.gov.in and head to the ‘My Account’ tab
Click on the ‘Service Request’ option and confirm request type as ‘New Request’ and request category as ‘Refund Reissue’.
Now you will be redirected to a new page where you will get details such as PAN, return type, assessment year, acknowledgement number, communication reference number and response.
Now click on ‘Submit’ and you will be asked to enter your bank account details and address details
To complete the process, you will have to follow the verification process using an electronic verification code (EVC) or digital signature certificate (DSC).
