KYC

Under the proposed norms, through an app, it will be ensured that the GPS location captured by the intermediary matches that of the country given in the client's proof of address

Under the new proposal, first-time investments in newly created MF folios can only be made after KYC verification is completed by the KYC Registration Agency (KRA)

Risk assessment firms are using data available publicly or obtained through user consent but is not available through credit bureaus to detect mule accounts, syndicates, and risky borrowers

Sebi is considering new relaxations for foreign portfolio investors, including a common KYC system and wider use of India Digital Signature to simplify onboarding and compliance

Sebi on Friday issued a circular to streamline the process for surrendering KYC registration to ensure an orderly winding down of such agencies' operations while safeguarding investors' interests. In a circular issued on Friday, the Securities and Exchange Board of India (Sebi) said the framework is necessary to deal with voluntary exits by KRAs due to business decisions and involuntary exits triggered by financial distress or regulatory action. "It is decided that the process for surrender of KRA registration should be streamlined for voluntary/involuntary scenarios so that critical operations and services of KRA are wound down in an orderly manner," the regulator said. According to the framework, the Know Your Client (KYC) Registration Agencies (KRAs) are required to maintain interoperability and portability of investor KYC records. Under the new norms, the regulator said KRAs surrendering their registration will be required to transfer all KYC records, including modifications an

Bima Sugam, the Irdai-backed digital insurance marketplace, is expected to launch Phase I in December with e-KYC and initial products, sources said, after missing earlier timelines

RBI reports 3.5 mn bank accounts have completed re-KYC during nationwide financial inclusion camps running from July to September 2025 at Gram Panchayat level

Banks will be setting up camps at the Panchayat-level from July 1 to September 30, to provide re-KYC services at consumers' doorsteps

We target that our recoveries should be substantially higher than the slippages, says K Satyanarayana Raju

Other regulators should follow Sebi's lead in explicitly stating that once a client completes KYC with one intermediary, they shouldn't have to repeat the process with another

In adherence to the Reserve Bank of India (RBI) guidelines, Punjab National Bank (PNB) has asked its customers to update their 'Know Your Customer' (KYC) information by August 8, to ensure smooth functioning of their accounts. Failure to update KYC details within the stipulated time may result in restrictions on account operations, it said. This is applicable only for those customers whose accounts are due for KYC updation as of June 30, 2025, PNB said in a statement. As part of the KYC compliance exercise, PNB customers are requested to provide their updated information like identity proof, address proof, recent photo, PAN/Form 60, income proof, mobile number (if not available) or any other KYC information at any branch, it said. It can also be done through PNB ONE/Internet Banking Services (IBS) or registered e-mail/post to their base branch by August 8, 2025.

Experts believe the tie-up could help resolve long-standing bottlenecks in KYC compliance, particularly in underserved regions

To make the KYC process easier, markets regulator Sebi on Monday said that registered intermediaries are allowed to use 'e-KYC Setu System' of National Payments Corporation of India (NPCI) to perform digital KYC. Registered intermediaries can use this facility to perform digital KYC, as an additional alternate mechanism available to them to carry out Aadhaar-based e-KYC of their clients. Under the present framework, registered intermediaries use e-KYC services of Unique Identification Authority of India (UIDAI) in the securities market. This service has been accepted as a valid process for digital Know Your Client (KYC) verification using KYC User Agency mechanism and or the Digilocker. NPCI along with UIDAI has developed and implemented a system known as 'e-KYC Setu System' to enable digitization of the customer onboarding.

RBI's new AePS guidelines, effective January 2026, require acquiring banks to perform due diligence, monitor transactions, and update KYC of inactive operators

The fintech startup has been recognised by the World Economic Forum for its secure, consent-based infrastructure powering KYC and data sharing across financial services

The women and child development ministry has directed all states and Union territories to implement mandatory face recognition system for take-home ration distribution and child attendance monitoring at Anganwadi centres. According to a letter issued by the ministry last month, the face recognition feature will now be accessible within the beneficiary profiles on the Poshan tracker application. Beneficiaries will also have the option to self-register using the citizen module of the tracker for e-KYC and photo capture. From July 1, marking attendance and recording hot cooked meal consumption for children aged 3-6 years will be compulsory across Anganwadi centres. The same date marks the beginning of mandatory face recognition-based authentication for take-home ration distribution. The move aims to ensure last-mile delivery and plugging leakages in the system. The ministry has also said that from August 1, face recognition will be made mandatory at the time of new beneficiary ...

The Reserve Bank of India has introduced significant changes to simplify the Know Your Customer (KYC) process. From mandatory reminders before freezing accounts to allowing kirana shop owners to help

At the 29th FSDC meeting, FM Nirmala Sitharaman pushed for swift return of unclaimed financial assets and called for simplified, unified KYC norms across all sectors

Finance Minister Nirmala Sitharaman on Tuesday asked regulators and departments to expedite the refund of unclaimed deposits to rightful owners and streamline the KYC process. Chairing the 29th meeting of the Financial Stability and Development Council (FSDC) here, she emphasised that interest of common citizens to be kept in mind and expeditiously refund the claims of the rightful claimants. She exhorted the Council to take proactive steps to ensure that citizens should have a seamless experience with respect to KYC processes across the financial sector, the finance ministry said in a statement. There is a need for common KYC norms, simplification and digitalisation of the KYC process including digital onboarding for Non-Resident Indians (NRIs) including PIOs and OCIs, in the Indian securities market. The minister urged the regulators and departments to expedite the process of refund to rightful owners of unclaimed amounts by holding special district-level camps. This drive is to

RBI's draft proposes KYC updates at all bank branches and via video to ease activation of inoperative or unclaimed accounts and reduce dormant deposit numbers