Why is DigiLocker being used for address and identity proof verification in PhonePe Invest?

PhonePe Invest uses DigiLocker as our sole document verification method to comply with SEBI guidelines for secure, digital account opening. Fetching documents directly from the government database ensures absolute authenticity, prevents fraud and eliminates the delays and rejections associated with manual photo uploads. We only fetch documents with your explicit consent. The data transfer is fully encrypted, strictly adheres to SEBI’s data protection framework and is used exclusively for mandatory account verification.

Note: Please ensure your PAN and Aadhaar details are up to date on DigiLocker for address and identity proof verification.