KYC Norms

The simplified KYC, along with small savings rates for the April-June 2023 quarter, may be announced on March 31, the official said

Homegrown Paytm Payments Bank, the largest issuer of KYC wallets (prepaid instruments) with over 100 million users, on Monday announced that its full KYC wallet customers will be able to make payments

Ola Financial Services, Obopay Mobile and Manapurram Finance other entities

Banks have been advised to ensure '100 per cent' compliance of know your customer (KYC) guidelines while sourcing insurance business

Note, however, that you can only do this if you have completed your KYC

Says developed nations haven't done their bit on climate change

Aadhaar is a 12-digit unique identity number provided by the UIDAI to the residents of India after a certain verification process

The latest findings by the federal agency have come to light during its ongoing probe into forex violation by at least 11 crypto exchanges

Brokers will not be allowed to accumulate investors' funds; investors have to verify their personal details online

If platforms facilitating online gaming with stakes are brought within the PMLA's purview, such companies would have to follow the know your customer (KYC) norms while onboarding users

What is KYC and why is it mandatory to avail many financial services?

The RBI imposed a fine of Rs 93 lakh on a major private lender last week for rules violations -- including that of Know Your Customer or KYC. But what is KYC? Here is some insight

RBI Governor Shaktikanta Das said the RBI actions on KYC rules have to be in consonance with the Prevention of Money Laundering Act (PMLA)

KYC challenge for financial institutions

Months after Paytm IPO shook investors' confidence, a recent audit shook RBI's trust in its implementation of 'know your customer' norms. But are all financial institutions adhering to these norms?

By sharing information digitally and securely through the AA framework, lenders get a host of data points like bill payments and investments to assess creditworthines

Most foreign investors do not permit sharing of mobile numbers officially and some consider it as a risk factor if an employee quits and his details remain in official records

In case of permission-less blockchains, network participants may be anonymous or pseudonymous - their identities are not known fully - the CCI discussion paper notes

CKYC is failing to have the desired impact due to lack of clear directions from the regulators, and lack of connectivity between the stakeholders and the repository

Govt carified that any purchase of gold, silver, jewellery, or precious gems and stones below Rs 2 lakh does not require PAN or Aadhaar of a customer as mandatory KYC document

From Corona Kavach to Corona Rakshak, insurance regulator IRDAI made intense efforts throughout the pandemic-disrupted 2020

Customers have the right to know their banks as much as the banks do their customers