Know Your Customer

Govt asks banks to do fresh KYC of PM Jan Dhan accounts due for updation

Financial Services Secretary M Nagaraju on Monday asked banks to carry out fresh KYC (know your customer) process for Jan Dhan accounts which are due for updation. The PMJDY was launched in 2014 and approximately 10.5 crore PMJDY accounts were opened in mission mode during the period from August, 2014 to December 2014. These PMJDY accounts are becoming due for periodic updation or re-KYC now after 10 years. Nagaraju chaired a meeting with all stakeholders for carrying out fresh Know Your Customer (re-KYC) process for the Pradhan Mantri Jan Dhan Yojana (PMJDY) account holders, the finance ministry said in a statement. During the meeting, Nagaraju suggested using all means for doing re-KYC -- such as fingerprints, face recognition, taking declarations where no change in KYC documents occurred -- through all channels like ATM, mobile banking, internet banking, and other available digital channels. Banks should also look forward to implement best practices adopted by other peer banks,

Fintech players likely to request RBI for a simpler merchant KYC process

It has proposed that payment aggregators will be required to undertake Contact Point Verification (CPV) of entities which involves physical verification of customers

Over 73% of KYC records validated, systems in place for remaining: KRAs

15% under KYC Registered status, 12% on hold as of March 31

Simpl expands partnership with Zomato to enhance convenience for customers

Expansion is to address the growing number of consumers seeking checkout convenience. Simpl has recorded over 100 million checkouts during 2017-2023 on Zomato

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NHAI is likely to extend the 'One Vehicle, One FASTag' initiative compliance deadline to March-end

What makes Indian fintech fast and furious, but also a little fraudulent?

Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion

FASTag KYC update 2024: Things to know about documents needed for KYC

FASTag KYC online: For those customers who fail to complete the KYC today, their FASTags will become inoperative

SBI-backed payment aggregator Cashfree unveils first no-code KYC link

KYC Link facilitates easy verification through SMS, email, or WhatsApp.

Crypto exchange KuCoin to make KYC compulsory for all users from July 15

The users will also not be able to deposit more money for investment in their wallets but the withdrawals will remain unaffected

Crypto under PMLA: CoinDCX registers itself as reporting entity with FIU

As per the Prevention of Money Laundering Act (PMLA), 2002, a reporting entity is required to conduct KYC verification of the customers and maintain their records

PM KISAN Yojana: List of documents required to receive the 12th installment

To avail of the benefits under PM KISAN Yojana, the farmer family must present the required documents before the state government

PM Kisan Yojana: How to know your registration number to avail of benefits

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India's crypto exchanges flouted KYC, money laundering norms: ED

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We ensure that crypto transactions are in the KYC framework: CoinSwitch CEO

Crypto will pave the way for Web 3.0, a new internet that is open and shared, says CoinSwitch CEO Ashish Singhal

RBI imposes Rs 1.12 cr penalty on Bank of Maharashtra for non-compliance

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'Know Your Customer' data upload: Foreign investors seek exemption

The RBI had in December said that all regulated entities have to upload 'Know Your Customer' data pertaining to the accounts of legal entities opened on or after April 1, 2021

PoA optional for opening of client account by stockbrokers or DP: Sebi

Sebi also specified the activities the stockbrokers will not be allowed to carry out using PoA

Over 100,000 scanned ID copies of Indians put on dark net for sale: Cyble

According to a report by cyber intelligence firm Cyble, the leaked data seems to have originated from a third party and not from the government system.

Financial firms can now save cost through video KYC; data concerns galore

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