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INADEQUATE KYC
Telcos oppose Trai's plan to block AI-flagged spam numbersTelecom companies are pushing back against Trai's plan to automatically block phone numbers identified as potential spam by AI. They argue ...- Compliance hurdles weigh heavily on GCCs expanding to tier-II citiesGCCs have been rapidly expanding into tier-II and tier-III cities, as ET reported earlier, with locations like Coimbatore, Jaipur, Indore, ...
- CM Yogi Adityanath pitches for replacing Societies Registration Act of 1860 with new law to enhance transparencyYogi Adityanath wants to replace the old Societies Registration Act in Uttar Pradesh. He wants a new law for better property protection and...
- Mend ways or face more curbs: RBI to banks, NBFCsThe RBI warned banks and finance companies to prudently manage unsecured exposure levels to avoid systemic risks. Despite rising bank profi...
- RBI urges gold loan firms to monitor portfolios following lapsesThe Reserve Bank of India has flagged concerns regarding gold loans issued through fintech partnerships and business correspondents. Key is...
- Are you making these mistakes when opening an NRI demat account?NRIs looking to invest in the Indian stock market can now easily do so through NRI demat accounts. It is critical to understand the differe...
- Over 40% consumers use digital payment every day in Tier 3-6 cities: ReportThe report identifies the key challenges faced by merchants and consumers in the adoption of digital payment services at the grassroots lev...
- FASTags with inadequate KYC to be deactivated after January 31, 2024: Here is how to updateBanks will deactivate or blacklist FASTags with a legitimate balance but inadequate KYC after January 31, 2024. Here is how to do KYC for F...
- Latest Sovereign Gold Bond tranche, new IMPS, NPS withdrawal rules: 6 money changes in February 2024Here's a look at some of the major changes including NPS partial withdrawal, IMPS new update, SBI home loan campaign offer, Punjab and Sind...
- Chinese syndicates to keep hurting India via loan app scams: Cyber expertChinese loan apps, operated by Chinese criminal syndicates and gangs, are causing significant financial losses in India. Pavan Duggal, a cy...
- Sebi lays rules for automated deactivation of trading, demat accounts in case of inadequate KYCsNoting that addresses form a critical part of the KYC procedures, Sebi said that every address recorded for the purpose of compliance with ...
- Existing laws inadequate to deal with crypto: GovtThe government on Tuesday said that existing laws are inadequate to deal with cryptocurrency. It has proposed to introduce a legislation to...
- Amendment no Aadhaar for mobile wallet firmsThe high cost of logistics and setting up manual verification centres has hit mobile wallet firms hard as unlike banks, they don’t have phy...
- Challenge is to simplify the process of investing: Nimesh Shah, ICICI Prudential AMC"If funds receive inflows through banks without a second KYC, it will be a game changer," says Nimesh Shah, MD & CEO, ICICI Prudential AMC.
- ET in the Classroom: RBI action against money mulingCustomers often fall prey to various types of frauds such as money muling, among others, largely due to inadequate awareness both within ba...
- Bank of Maharashtra, Dena Bank and OBC fined Rs 1.5 crore for violating KYC normsRBI scrutinised the fixed deposits opened by certain public sector banks in Mumbai-based branches in July last year.
- RBI penalises 3 banks for violation of KYC/ALM normsThe central bank scrutinised the fixed deposits opened by certain public sector banks in Mumbai based branches in July 2014.
- Budget 2015: Address tax discrimination against pension and annuities"Finance minister in his maiden budget speech had announced the concept of Universal KYC and a single demat account across asset classes," ...
- Fines on banks should be only for naming and shaming: RBI Deputy Governor K C ChakrabartyChakrabarty, who is known for speaking his mind candidly, added that the purpose of the fine should be only for "naming and shaming" the of...
- KYC:NSDL puts DPs on noticeClose on the heels of introducing daily concurrent audits and strengthening its internal audit norms, the National Securities Depositories ...
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