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COMPLIANCE WITH KYC GUIDELINES
RBI imposes Rs 66.7 lakh penalty on Bank of Baroda, GIC Housing FinanceThe Reserve Bank of India has levied significant penalties on Bank of Baroda and GIC Housing Finance for regulatory breaches. Bank of Barod...- EPFO 3.0 promises a digital PF experience, but can it fix years of legacy problems?EPFO 3.0 aims to modernize provident fund services through upgraded technology, faster claim processing, simplified withdrawals, digital re...
- PFRDA tightens NPS audit rules: Pension body orders regular audit checks for PoP service providersThe Pension Fund Regulatory and Development Authority now requires Points of Presence offering National Pension System services to undergo ...
- Telcos, businesses spar over calls, SMS consent regimeTelecom companies and banks are in a dispute over India's new digital consent rules for commercial messages. Major telecom players want con...
- 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...
- Continuous AI labelling norms to raise compliance bar, costs: ExpertsIndia's IT Ministry proposed stricter rules for AI-generated content, mandating continuous and clear visibility of labels. This move aims t...
- RBI fines Pine Labs Rs 3.1 lakh for KYC lapses on prepaid payment instrumentsThe move follows a statutory inspection of the fintech’s operations conducted between July 2024 and May 2025. The RBI clarified that the ac...
- New FASTag KYC rules from August 1, 2024: Check if your FASTag will be validNew FASTag KYC rules: The National Payments Corporation of India (NPCI) has introduced updated regulations, specifically targeting FASTag K...
- RBI fines Visa, Ola Financial and Manappuram for contravention of PPI, KYC rulesIn February, the RBI had ordered the credit card company to stop using an unauthorised route to make some commercial payments, per a Reuter...
- On KYC compliance front, payment aggregators may be second to someAs fintech startups try to onboard merchants faster than competition, they’re mostly conducting only the basic checks prescribed by the RBI...
- RBI imposes penalties on Axis Bank, IDBI BankRBI, however, said the penalties are based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of a...
- Co-op banks shall not outsource core management functions: RBIIssuing guidelines for managing risk in outsourcing of financial services by cooperative banks, the central bank said the lenders can hire ...
- Sebi eases compliance rules for processing of demat request, KYC applicationThe relaxation has been given till May 3, the Securities and Exchange Board of India (Sebi) said in a circular.
- Paytm, Razorpay others to face stricter norms, sector lividThe central bank has also demanded mandatory compliance on technology and cyber-security requirements at par with standards for regulated f...
- RBI slaps Rs 5 crore penalty on Airtel Payments Bank for violation of normsThe fine was imposed after RBI scrutinised the bank's documents relating to opening of accounts without any specific or clear consent from ...
- RBI fines Indian Overseas Bank after fraud came to lightThe Reserve Bank of India has imposed a fine of Rs 20 million on Indian Overseas Bank for non-compliance with the directions issued by RBI ...
- Total mobile wallet transactions in India to reach Rs 800 billion this year, says GlobalDataAccording to GlobalData, total mobile wallet transactions in India may show a growth of 113%
- New RBI plan could bring bad news for m-wallets like Paytm and MobikwikFull KYC even for small-ticket transactions will be a big deterrent to use of these m-wallets, as it will increase customer acquisition cos...
- RBI imposes Rs 1 crore penalty on Dhanlaxmi BankThe penalty was levied for violation of RBI guidelines on Know Your Customer and Anti Money Laundering standards.
- Bank accounts with inadequate client info to be closedBank customers who have not submitted proper documents for opening an account now face the risk of their accounts being permanently frozen ...
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