KYC norms

KYC norms News

Telcos begin rolling out alternate digital KYC process for new connections

In the wake of the recent Supreme Court verdict on Aadhaar, the Telecom Department had issued detailed instructions to telcos on stopping the use of Aadhaar-based electronic-know your customer (e-KYC) and had asked them to report compliance by November 5.

KYC norms: Aadhaar, PAN to be made must for bank a/cs if govt asks, says RBI

The RBI said periodic updation should be carried out at least once in every two years for high risk customers, once in every eight years for medium risk customers and once in every ten years for low risk customers.

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Fake MBBS Admissions: Nine banks under scanner for flouting KYC norms

The accused had maintained accounts in these banks in Chandigarh and Panchkula

Revamped Kisan Vikas Patra set to be launched next month

The New KVP is expected to have relaxed know-your-customer norms but will continue with its earlier tax treatment.

For the unbanked

Financial inclusion mission needs sustained supervision by finance ministry.

FSDC takes stock of progress on unified KYC, demat account

The proposals were announced in Budget 2014-15 and are expected to be implemented later this year.

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Sebi board to meet today; decision on uniform KYC, revised ESOP regulations expected

Sebi is also expected to remove the anomaly in the minimum issue size of IPOs. This is expected to raise over Rs 50,000 crore from sale of excess promoter stake in state-run companies.

Cobrapost expose: RBI fines Axis Bank,HDFC Bank,ICICI Bank for rule violations

Cobrapost had alleged widespread money laundering practices by these banks.

Cobrapost expose: RBI report finds discrepancies in banking operations

RBI had launched the investigation into the working of banks following the expose.

Cobrapost accuses Reliance Life,Tata AIA,Yes Bank,Birla Sun Life of money laundering

23 banks and insurance cos were accused of running money laundering racket by Cobrapost.

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