KYC norms

Not KYC, 'know your employee' too to check frauds: CVC to banks

Not KYC, 'know your employee' too to check frauds: CVC to banks

"Several frauds are insider jobs or perpetrated with the abetment of insiders. Banks have to take extra care to have continuous vigil on their staff," it said.

Sep 11, 2017, 16:42 PM IST
Taken corrective action to comply with KYC: Union Bank

Taken corrective action to comply with KYC: Union Bank

Reserve Bank of India (RBI) has levied penalties of Rs 2 crore and Rs 1 crore on the bank in two separate incidents of non-compliances.

Aug 01, 2017, 14:20 PM IST
RBI official lambasts wallet players on KYC norms

RBI official lambasts wallet players on KYC norms

A senior Reserve Bank official Thursday lambasted prepaid payment instrument (PPI) providers for laxity in meeting KYC norms, saying it is leading to opacity in the movement of funds.

Oct 06, 2016, 18:41 PM IST
Sebi issues stricter KYC, disclosure regime for P-Notes

Sebi issues stricter KYC, disclosure regime for P-Notes

Markets regulator Sebi today put in place a stricter KYC and disclosure regime for Participatory Notes to make it tougher to use these offshore instruments without disclosing the money-trail and details of their users.

Jun 10, 2016, 18:27 PM IST
SEBI likely to take strict action on P-Notes in its meeting on 20th May

SEBI likely to take strict action on P-Notes in its meeting on 20th May

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May 13, 2016, 15:59 PM IST
SEBI to strict its norms on P-Notes

SEBI to strict its norms on P-Notes

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May 13, 2016, 14:44 PM IST
SEBI to make KYC compulsory for investments

SEBI to make KYC compulsory for investments

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May 13, 2016, 14:44 PM IST
Sebi to tighten KYC, transfer norms for P-Notes

Sebi to tighten KYC, transfer norms for P-Notes

 Acting upon recommendations of the Special Investigation Team on black money, market watchdog Sebi plans to tighten due diligence requirements for issuance and transfer of controversy-ridden P-Notes and put the onus on investors to ensure compliance with anti-money laundering law.

May 13, 2016, 12:09 PM IST
Remain alert on smaller forex transfers from single accounts: CVC to RBI, IBA

Remain alert on smaller forex transfers from single accounts: CVC to RBI, IBA

The Central Vigilance Commissioner has asked the Reserve Bank of India and Indian Banking Association to remain alert on smaller forex transactions from single accounts

Oct 23, 2015, 15:50 PM IST
Domestic investors, MFs pitch for easier taxation, uniform KYC

Domestic investors, MFs pitch for easier taxation, uniform KYC

Rationalisation of tax rules and introduction of uniform KYC were some of the steps which were suggested by the domestic financial institutions (FIs) to promote ease of doing business and encourage retail participation in the securities market.

Oct 21, 2015, 16:57 PM IST

RBI slaps Rs 4.5 crore penalty on Dena Bank, OBC, Bank of Maharashtra

RBI on Wednesday slappeds Rs 4.5 crore penalty on Dena Bank, OBC and Bank of Maharashtra for violation of KYC norms.

Apr 29, 2015, 20:07 PM IST

Easier KYC norm for sole owner cos to open co-op bank accounts

Relaxing KYC norms, the RBI has allowed sole proprietor firms to open accounts in co-operative banks by submitting a single proof of their business.

Apr 05, 2015, 15:43 PM IST

RBI imposes Rs 5 lakh fine on 16 banks for violation of norms

The Reserve Bank on Tuesday penalised 16 central cooperative banks with a fine of Rs 5 lakh each for non-adherence of the Know Your Customer and Anti-Money Laundering guidelines.

Mar 31, 2015, 23:27 PM IST

RBI eases KYC norms for NBFCs

The rules have been eased due to practical difficulties and constraints in getting Know-Your-Customers (KYC) documents at frequent intervals.

Jan 02, 2015, 21:02 PM IST

Sebi to simplify KYC norms for rural investors

After allowing rural customers to trade in cash up to Rs 20,000 at one time and Rs 50,000 per annum, Sebi is now working on simplifying KYC process for them in a bid to bring more such investors to capital markets.

Dec 18, 2014, 21:34 PM IST

RBI slaps Rs 50 lakh penalty on ICICI Bank, Rs 25 lakh on BoB

RBI on Wednesday imposed a penalty of Rs 50 lakh on ICICI Bank and Rs 25 lakh on Bank of Baroda for violation of KYC norms after they allowed opening of accounts in the name of a statutory body by fraudsters.

Dec 17, 2014, 20:26 PM IST

RBI asks rural banks to partially freeze KYC non-compliant a/c

The RBI has directed regional rural and central cooperative banks to partially freeze bank accounts of those customers who have not complied with the Know Your Customer (KYC) norms.

Nov 02, 2014, 10:20 AM IST

RBI simplifies KYC norms for opening of bank accounts

A bank account can be opened with just one address proof, permanent or local, says an RBI decision that will help migrant workers and employees with transferable jobs who at present face cumbersome procedure to access banking services.

Jun 09, 2014, 18:50 PM IST

Sebi to issue guidelines soon for crowd-funding

Crowd-funding typically involves young entrepreneurs and small groups of people raising funds for their ventures.

Apr 10, 2014, 16:06 PM IST

Shame many don't have bank A/c; KYC norms need a relook: Rajan

Reserve Bank Governor Raghuram Rajan on Friday said it is shameful that so many people in India don't have access to banking, and emphasised the need to make KYC norms less bureaucratic.

Apr 04, 2014, 20:19 PM IST