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RBI KYC RULES
Top-level rejig hits mid-cap ITs; Fintechs wary of RBI wallet rulesHappy Thursday! Mid-sized IT firms are realigning leadership teams as AI-driven changes force a rethink. This and more in today's ETtech Mo...- No law bans withdrawal of cryptocurrency: BinanceIndian crypto exchanges are blocking user withdrawals fearing misuse for money laundering. Global exchange Binance, however, permits free w...
- Why India cannot build a world-class fintech champ yetIndia boasts world-class digital finance but lacks global consumer fintechs. Regulatory hurdles prevent innovation, unlike in markets with ...
- NRI but using resident savings account? Here’s what you must know about NRE, NRO, and FEMA rulesNRIs must update their Indian bank accounts to NRE or NRO status to comply with FEMA regulations. Failing to do so can result in significan...
- RBI rejects NBFC pleas on funds, norms tighteningThe Reserve Bank of India has rejected several suggestions from Non-Banking Finance Companies. Equity investments in group entities will no...
- WhatsApp banned 9,400 accounts involved in digital arrest scams since January this year: Centre to SCAuthorities are launching a major crackdown on digital arrest scams. WhatsApp has banned thousands of accounts involved in these frauds. Ne...
- RBI overhauls prepaid cards & wallets rules: Rs 2 lakh monthly debit limit, usage, restrictions, new safeguard and moreThe RBI has revised Prepaid Payment Instrument (PPI) rules, introducing new monthly debit limits for full-KYC PPIs at Rs 2,00,000, with a R...
- RBI proposes measures to strengthen Prepaid Payment Instruments frameworkThe Reserve Bank of India is introducing new rules for Prepaid Payment Instruments. These changes aim to boost the long-term growth of thes...
- Major relief in KYC updation in your bank account: RBI empowers BCs to update KYCReserve Bank of India has updated KYC norms. Banking correspondent (BC) can now update KYC. This includes NGOs, SHGs, MFIs and even local k...
- RBI issues new rules for activating inoperative bank accounts, unclaimed deposits: KYC via video, any branch of bank, business correspondentReserve Bank of India introduces new guidelines for inactive bank accounts. Customers can now update KYC at any branch. Video KYC option is...
- RBI makes it easier to claim dormant fundsReserve Bank of India plans to simplify claiming unclaimed deposits. New rules allow KYC updates via video calls and business correspondent...
- RBI for simpler KYC updation process simpler, no more re-submitting documents for minor changesThe Reserve Bank of India (RBI) has simplified KYC (Know Your Customer) rules for both new customer onboarding and updating of identificati...
- Periodic KYC update in bank account to become easier; RBI proposes new draft rules, allows time till June 30, 2026, to do KYC for these customersKYC updation rules eased: The RBI has issued a draft comment on simplifying KYC rules. The proposed rules will make the bank customers' liv...
- RBI makes six amendments to know-your-customer (KYC) rules; check detailsAmendments to KYC rules: On November 6, 2024, the Reserve Bank of India (RBI) announced changes to the Master Directions regarding Know You...
- Bank-led PPI issuers onboarding only full KYC users post RBI rapIn the absence of clarity on the applicability of these rules announced earlier this month, fintechs are engaging with partner banks and no...
- KYC norms may force m-wallets to cut ops, jobsArnav Gupta, an analyst at Forrester Research, estimates that the full KYC-compliant base of leading m-wallet players would not be more tha...
- RBI allows eKYC to use OTP for account openingIn case of loan accounts, only term loans can be sanctioned using electronic KYC and the aggregate amount of term loans sanctioned shall no...
- KYC rules in banking system have been simplified considerably: Raghuram RajanRajan also pointed out that under the new KYC rules a customer can self-certify change in address without visiting a bank branch.
- Government to announce Central KYC Records Registry entity soonRBI said an announcement by the government naming the entity, which will function as the Central KYC Records Registry, is expected shortly.
- RBI eases Know-Your-Customers norms for NBFCsRBI said NBFCs need not ask for fresh proofs of identity & address during periodic updation for low risk clients if their address/identity ...
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