Page 2 - Kyc Norms
Video-based KYC likely in next six months as banks, NBFCs evaluate options
While no financial player has gone live with the process yet, many are said to be in the proof-of-concept stage and it is a matter of time before the process becomes a reality
 "Video-based KYC likely in next six months as banks, NBFCs evaluate options")
Financial firms can now save cost through video KYC; data concerns galore
V-KYC will also prevent confusion and issues later; you will only need to fill in the online form on your lender's website or app to apply for opening an account or for a loan
 "Financial firms can now save cost through video KYC; data concerns galore")
Govt eases norms for opening bank account for migrants using Aadhaar KYC
The changes were made by amending the Prevention of Money-laundering (Maintenance of Records) Rules, as per a gazette notification issued on Wednesday.
 "Govt eases norms for opening bank account for migrants using Aadhaar KYC")
In a move towards lighter-touch regime, 80% FPIs classified as Category-I
Prior to the reclassification, less than 3% of the FPIs were part of Category-I and more than four-fifths were part of Category-II.
 "In a move towards lighter-touch regime, 80% FPIs classified as Category-I")
Letter to BS: The animal spirit is visible in much-needed action by govt
Tax relief in FPIs by rolling back surcharge and simplifying the KYC norms will definitely boost the sentiments of foreign investors and more wealth will be generated with new investment
 "Letter to BS: The animal spirit is visible in much-needed action by govt")
Mini Budget: FPI surcharge rolled back; no angel tax for start-ups
PSBs get Rs 70,000 crore; home, auto loans to become cheaper
 "Mini Budget: FPI surcharge rolled back; no angel tax for start-ups")
MFs cheer finance ministry's move to allow Aadhar-based KYC
Industry players say decision can be key in deepening penetration levels
 "MFs cheer finance ministry's move to allow Aadhar-based KYC")
KYC norms: 1.8 million directors struck off MCA rolls, DINs deactivated
The remaining directors of the total of 3.2 million have updated their KYC forms
 "KYC norms: 1.8 million directors struck off MCA rolls, DINs deactivated")
Fresh KYC norms will help bring in transparency in the boardroom: Experts
Legal experts say the KYC requirements imposed on directors are in line with global standards for checking on anti-laundering activities
 "Fresh KYC norms will help bring in transparency in the boardroom: Experts")
KYC norms: Directors protest disqualification, seek time to finish process
They claim could not complete their KYC norms as the Ministry of Corporate Affairs site was not working
 "KYC norms: Directors protest disqualification, seek time to finish process")
Sebi tightens Know Your Customer norms for foreign portfolio investors
Funds which do not comply with the new norms will not be able to take any new derivative positions after April
 "Sebi tightens Know Your Customer norms for foreign portfolio investors")
