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Reserve Bank of India

08 Nov 2024

KYC Rules: RBI Makes 6 Amendments, New Rules Effective Immediately --Check

Amendments have also been made regarding CDD Procedure and sharing KYC information with the Central KYC Records Registry (CKYCR). CKYCR is an entity which receives, stores, safeguards and retrieves KYC records in the digital form of a customer.

08 Aug 2024

NSE Crosses Record 10-Crore Unique Registered Investor Base

According to the exchange, the benchmark Nifty 50 index has generated a return of 11.8 per cent in this fiscal year (as of July 31).

27 Mar 2024

RBI Imposes Rs 6 Lakh Penalty On The Mandi Cooperative Bank: Here's Why

The central bank also imposed a penalty of Rs 1 lakh on West Bengal's The Howrah District Central Co-operative Bank.

06 Mar 2022

SBI Customers Alert! Bank warns people against KYC frauds

SBI has reminded its customers not to click on embedded links in text messages requesting them to update their account information. SBI also displayed one of the text messages used to carry out fraudulent actions. The embedded links in the text messages that mimic State Bank of India service notifications are cryptic URLs that allow unscrupulous scammers to access the customer's account details.

01 Mar 2022

Beware! 64-year-old actress cheated in Airtel KYC cyber fraud, loses money

After dialling the number, the scammer instructed the woman to download and install the Quick Support programme, which allows a third party to access people's mobile actions. She was then asked to deposit Rs 10 into a specific account as a KYC fee. Then, using the application, she submitted her banking information, which the scammer was able to see.

Airtel KYC Fraud

30 Oct 2021

Airtel KYC fraud case: Airtel CEO warns customers against online scams

The swindle has already claimed the lives of a few unsuspecting users who have fallen victim to the con artists. He emphasises that neither Airtel nor any of its bank partners will ever contact a consumer and ask for personal information, particularly over the phone. Vittal also cautioned customers against being duped by scammers who provide links to download a bogus bank app or anything similar.

13 Sep 2021

KYC Frauds: RBI warns customers against online scams; Here’s how to stay safe

RBI alerted people against bank frauds that are related to Know Your Customer (KYC) documents. RBI said that certain details should not be shared via unverified or unauthorised channels/websites or even applications. Customers should quickly contact their bank branch to cross-check documents or information.

17 Sep 2020

HDFC Bank launches video KYC facility for customers --Check benefits

The facility has been deployed for Savings, Corporate Salary accounts, Personal Loans Video KYC is equivalent to full KYC/ Customers are eligible for all financial/banking products.

Reserve Bank of India

02 Sep 2019

PhonePe, Paytm have till February 2020 to update KYC

The deadline for mobile wallets to become full KYC compliant was earlier set to end on August 31. But on August 30 the RBI extended the deadline by six more months, with the warning that no further extension would be granted.

Know Your Customer

11 Sep 2017

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.

19 Jan 2017

RBI imposes Rs 75 lakh penalty on Bombay Mercantile Co-op Bank for violations of KYC norms

Bombay Mercantile Co-operative Bank was imposed with a penalty of Rs 75 lakh by the Reserve Bank of India on Thursday for violations of norms related to KYC and anti-money laundering.

25 Sep 2016

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.

29 Oct 2015

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.

Finance Ministry

21 Oct 2015

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.

31 Mar 2015

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.

money laundering

09 Mar 2015

Money laundering: Over 480 urban cooperative banks under RBI lens

Over 480 urban cooperative banks across the country have come under the scanner of the Reserve Bank of India (RBI) for alleged violation of anti-money laundering laws.

03 Mar 2015

RBI refuses to share inspection reports with intelligence agencies

The Reserve Bank of India (RBI) has refused to share its banks' inspection reports on alleged money laundering laws and other violations with Central Economic Intelligence Bureau (CEIB), citing legal hurdles.

17 Dec 2014

Govt to test UIDIA's e-KYC for mobile SIM

Getting mobile SIM activated for Aadhaar number holders may be a matter of few minutes in the coming days as government has decided launch a pilot project to test UIDAI's electronic-Know-Your-Customer service.

30 Sep 2014

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.

26 Aug 2014

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.

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