Finance Minister Arun Jaitley has launched FedBook Selfie, India’s first mobile app for account opening from Federal Bank, in the presence of the bank’s MD & CEO Shyam Srinivasan.
Federal Bank has introduced the mobile-based bank account opening as an upgrade to FedBook, its e-passbook app, which was launched two years ago.
Using the app, anyone having an Aadhaar card and PAN card in a rural or urban centre, can open an SB account on a smartphone and get their live account number instantly. Further, the account can also be funded with an initial remittance not exceeding ₹10,000.
To open an account, one has to simply download FedBook on his or her mobile and follow three easy steps — take a selfie, scan their Aadhaar, and PAN card.
The app verifies the Aadhaar real time and opens the account at the click of a button. Once the account is opened, the app turns itself into a digital passbook.
The app is currently available on Android and iOS phones.