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DUE DILIGENCE ON BCS
RBI revamps business correspondent model to boost last mile delivery of financial servicesThe Reserve Bank of India is overhauling its business correspondent system. New service points, Business Correspondent-Banking Outlets and ...- UPI may get cash powers; Sebi approves Pine Labs IPOUPI may soon enable cash withdrawals via QR codes. This and more in today’s ETtech Top 5.
- 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 simplifies KYC rules to allow face-to-face, video and OTP-based onboarding for customersThe Reserve Bank of India has introduced amendments to its KYC norms, streamlining customer onboarding through Aadhaar-based e-KYC, video K...
- 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...
- Rogue business correspondents, payment aggregators join forces to launder money using bank payout APIsA money laundering scheme is uncovered. Some business correspondents are exploiting banking loopholes. They misuse payment aggregator APIs....
- To curb frauds, RBI asks banks, payment operators to keep track of domestic remittancesThe Reserve Bank of India mandated banks and payment operators to keep a trail of domestic fund transfers to curb money laundering and frau...
- Finmin pitches for enhanced KYC, due diligence for merchants, business correspondentsFinance ministry stresses rigorous KYC and due diligence to prevent financial frauds, focusing on data security, safeguarding the financial...
- Wary of BoB World app and other scams, Fin Min bats for enhanced KYC, due diligenceTo counter financial frauds like the BoB World app scam, the finance ministry proposes reinforced KYC procedures and due diligence for merc...
- RBI increases incentives for banks for distribution of coinsThis has been done keeping in view the overall objectives of clean note policy and to ensure that all bank branches provide better customer...
- SBI will soon offer home loans with fixed rate for longer period, says SBI chairperson Arundhati BhattacharyaState Bank of India (SBI) chairperson Arundhati Bhattacharya says that if borrowers want to know what EMIs they have to pay, they can opt f...
- Exploring feasibility of Nachiket Mor panel's road map for financial inclusion by 2016The entire notion of the last mile could change as the Mor panel sees a greater role for smaller intermediaries and telecom companies than ...
- Tainted company Seashore Group top bidder for handling Odisha doleSeashore Group, accused of cheating depositors of Rs 300-400 cr, puts in bid of -0.06% to become banking correspondent for Odisha.
- Before committing to the banking-correspondent model, we need to thrash out the economicsLittle wonder that every five years, we start wondering how to solve the last-mile problem in Indian banking.
- RBI may permit individuals to act as business correspondentRBI may permit banks to engage any individual to act as business correspondent, a move that will provide more flexibility to banks for taki...
- 'Financial inclusion is commercially viable'Interest rates have bottomed out and rates will harden after six months. For now, the interest rate movement will depend on inflation. High...
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