Page 4 - Kyc

DoT asks operators to re-verify over 600,000 mobile connections in 60 days

The Department of Telecom has directed telecom operators to verify more than 6 lakh mobile connections suspected to have been obtained using invalid, non-existent, or fake documents, an official statement said on Thursday. The DoT has issued directives to telecom operators to carry out immediate re-verification of the identified mobile numbers within 60 days. "DoT has identified approximately 6.80 lakh mobile connections suspected to have been obtained using invalid, non-existent, or fake and forged Proof of Identity (PoI) and Proof of Address (PoA) KYC documents," the statement said. The department has flagged around 6.80 lakh mobile connections as potentially fraudulent after advanced AI-driven analysis. "The questionable veracity of the PoI/PoA KYC documents suggests the use of fabricated documents for obtaining these mobile connections. DoT has issued directives to the TSPs to carry out immediate re-verification of these identified mobile numbers. All TSPs are mandated to ...

Mutual Fund KYC: How to verify status online, fix PAN-MF folio mismatch

Investors with an 'on hold' KYC status will not be able to carry out any transactions in mutual funds

Choose Aadhaar-based KYC: Once done, you may invest across fund houses

Keep Aadhaar, registered mobile number and scanned documents handy before starting online procedure

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

What is video KYC, and how does it work?

Video-based KYC is a digital method used by financial institutions to authenticate their customer's identities via video calls.

One Vehicle, One FASTag enforced: Here's what all users must know

NHAI's decision to implement the 'One Vehicle, One FASTag' policy stems from concerns over the misuse of FASTags

Uniform KYC: How system will help citizens, financial institutions

Uniform KYC can reduce the burden of repeated KYC processes for the customer or the organisation

Give top priority to regulatory concerns, redressal: FIDC to member firms

FIDC said adherence to all applicable laws and regulations at all times is a sine qua non. Specifically, norms relating to Know Your Customer (KYC) and Anti Money Laundering (AML) should be followed

Keep records, communicate: Dealing with unclaimed insurance policies

In numerous instances, members are unaware of the policy's existence, let alone its details

Identity platform IDfy secures $27 million, plans to further Asia footprint

IDfy said the funds will boost their expansion plans and product development, enabling them to serve even more businesses

More than 2,500 fraud connections being cut daily, say DoT officials

DoT working on grievance redress portal

Indian banks to enhance KYC standards with multi-level verification

Currently, passport, Aadhaar, voter card, NREGA card, PAN card, or driving licence are accepted as valid means to open a bank account

Opt for loan apps that have partnered reputable regulated entities

The app must be featured on that entity's website and in RBI's whitelist

Meeting with FM 'consultative' and 'positive': fintech, startup executives

The finance minister added that companies must ensure strict compliance and adherence with regulations

Govt forms panel headed by T V Somanathan to finalise uniform KYC norms

"The committee has been constituted. Different government departments and FSDC members are part of it," a senior official said

Govt may look at enhanced KYC requirements for certain class of corporates

The government might look at enhancing the scrutiny of certain class of corporates, including in terms of KYC requirements, as efforts continue to weed out unscrupulous elements and curb possible misdoings, according to a senior official. The matters related to KYC (Know Your Customer), including a simplified and uniform system, are still under discussion, and a committee headed by the finance secretary is looking into various aspects. The senior official on Monday said that various aspects related to having a uniform KYC are being discussed and in the case of the corporate affairs ministry, Permanent Account Number (PAN) is being used for KYC requirements. The ministry is implementing the companies law and Limited Liability Partnership (LLP) Act, among other legislations. Further, the official said enhanced KYC requirements might be explored for certain class of corporates. As many as 26,28,865 companies were registered in the country as on January 31, 2024, and out of the total,

RBI allows banks, non-banks to issue PPIs for public transport systems

The regulator amended guidelines for prepaid payment instruments for mass transit systems (PPI-MTS). It said such PPIs can be issued without Know Your Customer (KYC) verification of the holders

KYC compliance: Time consuming, repetitive but critical for your safety

Update your documents regularly so that you are able to fulfil KYC demands seamlessly

Govt planning to standardise 'know your customer' norms for banking checks

Wednesday's statement made no direct reference to Paytm Payments Bank, saying only the FSDC discussed Know Your Customer (KYC) norms