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KYC

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.

SEBI notifies norm to make KYC process easier for investors

Making know-your-client process easier for investors, SEBI has notified a net set of norms that allow various market entities such as brokers and MFs to get details from centralised KYC agencies, rather than carrying out a fresh KYC verification procedure.

Axis launches Aadhaar-based eKYC facility for rural banking

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.

SEBI collates KYC details of nearly 2 cr investors

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.

UIDAI makes KYC process paperless to improve customer service

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.

Multiple LPG connections without KYC will entail cancellation

Cooking gas (LPG) consumers with multiple connections who do not submit Know Your Customer (KYC) forms by month end will lose subsidised LPG supply and will be charged commercial rates, the government said Friday.