The Reserve Bank of India is introducing new rules for Prepaid Payment Instruments. These changes aim to boost the long-term growth of thes...

India's market regulator Sebi seeks clarity from the tax department on the duties of authorised representatives for foreign investors. Fund...

Most of the big fintech firms like Paytm, PhonePe, and others have halted their rent payment offerings via credit cards. Per industry insid...

Reserve Bank of India has updated KYC norms. Banking correspondent (BC) can now update KYC. This includes NGOs, SHGs, MFIs and even local k...

Reserve Bank of India introduces new guidelines for inactive bank accounts. Customers can now update KYC at any branch. Video KYC option is...

KYC updation rules eased: The RBI has issued a draft comment on simplifying KYC rules. The proposed rules will make the bank customers' liv...

HDFC Bank: The Reserve Bank of India found HDFC Bank violated Know Your Customer (KYC) norms as laid down by RBI's Master Direction - Know ...

Amendments to KYC rules: On November 6, 2024, the Reserve Bank of India (RBI) announced changes to the Master Directions regarding Know You...

The earlier norms pertaining to PEPs were open-ended and there was a lack of clarity on the definition, apparently leading to issues for ba...

The Reserve Bank of India (RBI) has tightened customer due diligence (CDD) norms by requiring banks and regulated entities to adopt a risk-...

According to the central bank, a new KYC procedure can be completed in person at a bank branch or online using a video-based Customer Ident...

"Fresh KYC process can be done by visiting a bank branch, or remotely through a Video based Customer Identification Process (V-CIP) (wherev...

The relaxation in KYC compliance was given so that no restriction was placed on bank accounts related to cash deposits, withdrawals etc.

Meanwhile, the RBI also amended its master directions on know your customer (KYC) guidelines for banks, dealing with the procedure on imple...

Regulated entities (REs) have already been uploading the KYC data pertaining to all individual accounts opened on or after January 1, 2017,...

While a full-KYC requires physical verification or a biometric check, minimum-KYC can be done via a mobile handset using a one-time passwor...

RBI's Master Direction is interoperability of wallets eliminates the need for the sender and recipient of a mobile payment to be using the ...