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KYC

Axis Bank assures govt of action against errant officials

Axis Bank assures govt of action against errant officials

Finance Minister Arun Jaitley on Tuesday said the Axis Bank management has assured the government that it is taking action against erring officials who are involved in irregularities post demonetisation.

Demonetisation: Axis Bank suspends some suspicious accounts

Demonetisation: Axis Bank suspends some suspicious accounts

Hit by irregularities by some of its employees, Axis Bank on Monday said it has taken "unprecedented step" of temporarily suspending some of the suspicious accounts and has a rigorous compliance procedure.

Axis bank-Noida: Enforcement Directorate files money laundering case?

Axis bank-Noida: Enforcement Directorate files money laundering case?

A money laundering case has been registered by the Enforcement Directorate (ED) in the alleged forging of a customer's identity to conduct huge illegal transactions in an Axis Bank branch in Noida.

Attention Punjab National Bank customers: Update KYC by October 1, or face account block

Attention Punjab National Bank customers: Update KYC by October 1, or face account block

State-owned Punjab National Bank (PNB) has asked its customers whose accounts are due for KYC update to do so by October 1, failing which it may block all their banking transactions.

RBI imposes Rs 27-crore penalty on 13 banks

RBI imposes Rs 27-crore penalty on 13 banks

Reserve Bank of India (RBI) has imposed Rs 27-crore penalty on 13 public and private sector banks of the country for violation of Know Your Customer (KYC) norms.

Central Vigilance Commissioner calls for foolproof system to verify bank customers' data

Central Vigilance Commissioner calls for foolproof system to verify bank customers' data

CVC K V Chowdary today favoured putting in place a network of systems for bank officials to verify the genuineness.

'Need to make payments bank system fraud free'

'Need to make payments bank system fraud free'

Payments banks will help bring millions of people into the financial system but there is a need to make the system fraud free, a top official of Paytm Payments Bank said on Thursday.

Will take call on tightening P-Note norms soon: SEBI Chief

Will take call on tightening P-Note norms soon: SEBI Chief

Mumbai: Looking to prevent money laundering, SEBI Chairman U K Sinha on Thursday said the regulator is in discussions with the industry on tightening Know Your Client (KYC) mechanism for participatory notes (P-Notes) and will take a final decision on it soon.

Sebi mulls allowing bank KYC for securities markets

In a game-changer move, regulator Sebi is mulling doing away with the requirement of a fresh KYC (Know Your Client) for opening of new accounts in securities market if the investor has got a bank account

Withdrawal of provident fund to become lot more easier: Know what you need to do

Withdrawal of provident fund to become lot more easier: Know what you need to do

You will have to follow very simple procedures so that you don't have to run around your previous company for withdrawal of provident fund.

Govt to announce Central KYC Records Registry entity soon

The Reserve Bank Thursday said an announcement by the government naming the entity, which will function as the Central KYC Records Registry (CKYCR), is expected shortly.

MFs to give KYC details of new investors by November 1

Mutual Fund houses will have to mandatorily provide additional KYC informations pertaining to gross annual income and net worth of new investors by November 1, as also their 'beneficial ownership' details.

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.

FinMin asks banks to tighten norms for high value FDs

At the moment, different banks have varied definitions of high value fixed deposits.

FinMin asks banks to tighten norms for high value FDs

At the moment, different banks have varied definitions of high value fixed deposits.

Accept self-attested documents to open account: RBI to banks

The Reserve Bank on Tuesday relaxed 'know your customer' norms by allowing self-certification of documents needed for opening bank accounts.

Portable PF A/c number to be launched on October 16

Retirement fund manager EPFO's ambitious project to provide portable universal PF account numbers (UAN) to its subscribers will be launched on October 16.

RBI releases note, poster on KYC to help public open accounts

Reserve Bank on Tuesday released a note and a poster to increase awareness about Know Your Customer (KYC) norms for opening bank accounts.

RBI allows NBFCs to use e-KYC service to verify identity

Non-Banking Financial Companies (NBFCs) have been allowed to accept e-KYC service as a valid process to verify identity and address proof of customers to reduce risk of fraud and forgery.

SEBI board approves sharing KYC details with fin regulators

To ensure common Know-your-Client system for the entire financial sector, SEBI board on Thursday approved the proposal for sharing KYC details with entities regulated by other financial sector watchdogs.