Last Updated: Wednesday, February 26, 2014, 18:54
The facility, which uses the Aadhar database, will enable a bank account to be opened within 24 hours as against the 7-15 days taken in villages at present, said a senior bank official.
Last Updated: Thursday, February 20, 2014, 13:49
As government prepares to set up a central Know Your Client system for entire financial sector, details of close to 2 crore investors have been collated on a centralised database for various segments of capital markets.
Last Updated: Thursday, December 26, 2013, 19:31
The Securities and Exchange Board of India (Sebi), in a circular, has given six months time to various market intermediaries to bring the changes in the KYC form.
Last Updated: Tuesday, October 08, 2013, 18:59
Market regulator SEBI Tuesday said it will accept e-KYC (Know Your Client) service of UIDAI as a valid proof of identity and address for opening accounts with brokerage firms, mutual funds, portfolio managers and other capital market entities.
Last Updated: Thursday, September 12, 2013, 16:10
Making Indian capital markets an easier place to invest, SEBI Thursday relaxed registration and disclosure norms for low-risk foreign investors and exempted the low-risk overseas entities from tedious paper work.
Last Updated: Tuesday, September 10, 2013, 23:12
To help foreign students studying in the country to open bank accounts, the Reserve Bank Tuesday extended relaxation in mandatory know-your-customer norms to urban cooperative banks (UCBs) for this purpose.
Last Updated: Friday, August 23, 2013, 19:02
The RBI Friday imposed a fine of Rs 6.5 crore on six public sector banks including IDBI Bank, Dena Bank and Indian Bank, for violation of customer identification or KYC norms and anti-money laundering guidelines.
Last Updated: Wednesday, August 21, 2013, 21:59
Aadhaar card is a valid proof for opening a bank account under the know your customer (KYC) norms, government said Wednesday.
Last Updated: Monday, August 19, 2013, 23:31
Unique Identification Authority of India that provides 12-digit Aadhaar identity number, has made its Know Your Customer service (KYC) process paperless to enhance customer convenience as well as improve business efficiency.
Last Updated: Tuesday, July 23, 2013, 21:54
Banks will now be required to update KYC data only once in two years for high risk entities, and just once in 10 years for low-risk clients, RBI said on Tuesday.
Last Updated: Monday, July 15, 2013, 14:21
A penalty of Rs 3 crore each has been imposed on State Bank of India (SBI), Bank of India, Canara Bank, Bank of Baroda, Central Bank of India, Indian Overseas Bank and Federal Bank.
Last Updated: Thursday, May 16, 2013, 15:21
In the wake of alleged violation of KYC norms by a large number of banks, the government and RBI are looking at the possibility of hiking the penalty which can be imposed on the erring banks.
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