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KYC News

09 Dec 2024

Digital PAN 2.0: Will You Need Physical PAN Card For KYC And ID Proof?

PAN 2.0 Goes Digital: The Permanent Account Number (PAN) system is undergoing a digital transformation with the launch of the PAN 2.0 project. The government has invested Rs 1,435 crore to revamp the existing system entirely. PAN 2.0 is expected to enhance KYC processes, streamline identity verification, and introduce advanced features akin to the functionalities offered by m-Aadhaar and e-Aadhaar.

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.

12 Oct 2024

Zee Helpline: Shocking feat of government system!

Reserve Bank of India

24 Jul 2024

RBI Tightens Rules For Domestic Money Transfers

The RBI also stated that the guidelines on card-to-card transfers are excluded from the purview of the DMT framework and shall be governed under the guidelines granted for such instruments.

18 Jun 2024

Electricity KYC Update Scam: 392 Mobile Phones Banned By Govt

The DoT has directed all Telecom Service Providers (TSPs) for Pan India IMEI based blocking of 392 mobile handsets misused in cybercrime, financial frauds.

31 May 2024

EPFO Introduces New Rules For Cheque Leaf And Bank Passbook Uploads

To verify claims EPFO uses verification methods instead of requiring a validated bank passbook or cheque leaf image.

Mutual fund investors

29 Mar 2024

MF Investors ALERT! One Needs To Do THIS By March 31

Investors whose KYC is not based on any officially valid documents must complete their KYC again before March 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.

21 Feb 2024

Govt Plans For Simplification, Digitalisation Of KYC Process

The FSDC also took note of the activities undertaken by the FSDC Sub-Committee chaired by the Governor, RBI, and the action taken by members on the previous decisions of the FSDC.

15 Dec 2023

Bank Locker Blues: 56% Shut Or Downsize As Costs Bite, Rules Tighten - Survey

According to a recent survey conducted by LocalCircles, a whopping 56% of bank locker users have either already shut down their lockers or are planning to do so within the near future.

02 Dec 2023

Loan Against LIC Policy: Here's From How To Apply To Eligibility Criteria

Taking a loan against an LIC policy is a straightforward process. Read on to find it out.

29 Nov 2023

Stricter New SIM Card Rules Come Into Effect From Dec 1; All You Need To Know

The new rules on SIM, which are set to kick off from December 1, aim to enhance security and accountaibility in issuance and use of SIM cards.

24 Mar 2023

E-wallets Norms For Mutual Funds To Be Effective From 1 May 2023

The circular is issued to protect the interests of investors in securities and to promote the development and regulate the securities market, Sebi said.

21 Mar 2023

BoB Customers Alert! Your A/C Will Be Deactivated If You Fail To Do THIS

Know what is Central KYC Registry and where Bank of Baroda customers can get it done.

01 Feb 2023

FM Proposes 'Risk-Based' KYC Instead of Current 'One Size Fits All' Approach

The financial sector regulators will also be encouraged to have a KYC (Know Your Customer) system fully amenable to meet the needs of Digital India.

06 Jan 2023

No need to visit bank to update KYC if you have done this, RBI said THIS

Bank account holders are no longer required to visit their bank branches to update 'know your customer' (KYC) details provided they have already submitted valid documents. Banks are required to provide an acknowledgment of the receipt of the KYC documents / self-declaration submitted by the customer. A new KYC process is needed if KYC documents available in bank records do not conform to the present list of officially valid documents.

Punjab National Bank

28 Nov 2022

Your PNB a/c may be closed after Dec 12, check this notification immediately

PNB has said that KYC updation for all customers is mandatory and if your account has become due for KYC updation as of 30.09.2022, you must get it updated before 12.12.2022.

04 Sep 2022

SBI YONO: Customers can now open 'Savings Account' online; Here's HOW

Open SBI digital savings account without branch visit requirement through KYC video feature. The facility is available anytime and anywhere for customers. Customers need to apply on YONO app to begin the process.

Punjab National Bank

28 Aug 2022

Punjab National Bank: Accounts will freeze if customers fail to do THIS

PNB warns customers to do KYC before 31 August unless accounts may freeze. PNB tweeted about the RBI guideline of mandatory KYC to all customers before 31 March, 2022. Customers can visit the local branch or sending necessary documents to bank official mail Id.

Punjab National Bank

18 Aug 2022

PNB customer alert! Do THIS by August 31 or else face ...

Meanwhile, customers who are due for their KYC update, may do so online as well. There is no need to visit the bank branch for the purpose.

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