Kyc
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It's IMPORTANT for SBI account holders to update KYC by Feb 28. Details here
Business | Feb 22, 2020, 08:05 AM ISTSBI account: For any bank, maintaining a record of information about its customers is of great importance.
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KYC breach: RBI fines HDFC Bank Rs 1 crore for KYC violations
Business | Jan 30, 2020, 02:22 PM ISTThe RBI in a release said that supervisory evaluation of the bank (2016-17) revealed that the HDFC Bank had "failed to exercise ongoing due diligence" with regards to 39 current accounts opened by its customers for bidding in Initial Public Offer.
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SBI Bank Customers Alert! SBI says update KYC or bank may freeze your accounts. Check details
Business | Jan 31, 2020, 02:19 PM ISTSBI KYC Online: Are your holding savings accounts or other accounts with State Bank of India? Then SBI has an important notice for you. SBI Bank issued a public notice, published in an English daily on Sunday, asking its customers to complete their KYC for hassle-free banking experience. India's largest lender also said that those non-KYC bank accounts may be freeze by the bank.
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Fact-check: Has the RBI really asked banks to accept NPR letter as a KYC document?
Business | Jan 23, 2020, 06:46 PM ISTDepositors have reportedly withdrawn Rs 4.5 crore from a Central Bank of India branch in Tamil Nadu since Saturday after a viral WhatsApp message claimed that an NRC document was being accepted as valid ID proof under new KYC norms
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After RBI adds NPR to KYC papers, panic withdrawal from Central Bank of India's branch
Business | Jan 23, 2020, 02:29 PM ISTThe Reserve Bank of India (RBI) included the National Population Register (NPR) letter as an officially valid document (OVD) for Know Your Customer (KYC) verification for opening bank accounts or applying for credit cards. RBI's decision has triggered panic in Central Bank of India's branch in Thoothukkudi, Tamil Nadu.
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RBI introduces video-based identification process for KYC
Business | Jan 10, 2020, 06:41 AM ISTThe RBI on Thursday amended the KYC norms allowing banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP), a move which will help them onboard customers remotely.
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6 people duped of over ₹ 5 lakh in Maharashtra. Here's how to avoid Paytm KYC fraud
India | Jan 02, 2020, 12:49 PM ISTPaytm KYC fraud: One of the complainants had noticed some transactions from her bank account after which she approached the police station. He then found five more people there with similar complaints.
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No Indian citizen will be asked to state their religion on bank KYC form: Govt rejects news report
Business | Dec 21, 2019, 08:25 PM IST"There is no requirement for Indian citizens to declare their religion for opening/existing bank account or for KYC. Do not fall for baseless rumours about any such move by banks," finance secretary Rajeev Kumar said
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Bihar: ED attaches over Rs 4 cr assets of man who operated shell firm accounts
Crime | Dec 05, 2019, 08:33 PM ISTThe Enforcement Directorate (ED) alleged that Raj Kumar Goenka Bihar-based man who is alleged to have opened bank accounts in the name of shell or bogus firms misused KYC (Know Your Customer) information of his employees and other people to deposit and transfer illegitimate funds.
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Over 19 lakh director identification numbers deactivated for want of KYC info: Govt
Business | Dec 03, 2019, 05:14 PM ISTThe Corporate Affairs Ministry has deactivated more than 19 lakh director identification numbers (DIN) as the individuals concerned failed to file KYC details under the companies law.
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SEBI issues circular on Aadhaar e-KYC for investors
Business | Nov 05, 2019, 07:41 PM ISTThe circular mentions about the requirements to be fulfilled by entities registered with the UIDAI as KYC User Agency (KUA) as well as for sub-KUA.
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Attention! SBI KYC pending? Find documents list you need to submit
Business | Oct 07, 2019, 03:00 PM ISTSBI KYC Online: Nowadays, Know your customer or KYC has become an important part of the banking system as per the RBI's norms. In fact, not adhering to KYC norms can also lead to heavy penalties being slapped on the offending banks.
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PhonePe, Paytm have till February 2020 to update KYC
Business | Sep 02, 2019, 03:10 PM ISTWith the Reserve Bank of India (RBI) extending the deadline for mobile wallets to become fully Know Your Customer (KYC) compliant, people using PhonePe, Paytm, Amazon Pay or other such wallets will have no troudble doing their transactions as usual at least till February 29, 2020.
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KYC for opening bank accounts to make process secure: UIDAI
Business | Aug 28, 2019, 07:02 PM ISTThe government, last week, had notified amendments to the Prevention of Money-Laundering (Maintenance of Records) rules to allow voluntary use of the biometric identifier for opening of bank accounts, and had also spelt out the detailed procedure for 'digital KYC' to be performed in case of verification done via documents like voter ID and driving licence.
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WARNING! Paytm says don't do this or your account details might get leaked; details inside
Business | Aug 27, 2019, 05:37 PM ISTAre you Paytm account holder and often do the online transaction through a bank or UPI then you need to be careful. In the latest notification, Paytm has warned its account holders or online bank frauds and have asked them to be alert and be careful from the scammers
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Government to allow Aadhaar-based KYC for retail investors
Business | Aug 23, 2019, 11:38 PM ISTAnnouncing a slew of measures to boost the economy, the government said the Depository Receipt Scheme 2014 is expected to be operationalised soon by Sebi. "This will give Indian companies increased access to foreign funds through American Depository Receipt (ADR)/ Global Depository Receipt (GDR)," she said.
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Paytm, PhonePe user alert! Your mobile wallet account will get inactive if you fail to do THIS; check details
Business | Aug 23, 2019, 02:32 PM ISTIf you are Paytm, PhonePe or any other mobile wallet then this news is important for you. According to the latest notification from Paytm, PhonePe , if any user fails to update their Know Your Customer (KYC) before the last date then their mobile wallet could get inactive. As per reports if you don't then get KYC done by the end of this month i.e August 31st or else you will not be able to pay from next month i.e September 1st.
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Banks can use Aadhaar for KYC with customer's consent: RBI
Business | May 29, 2019, 09:54 PM ISTBanks can use Aadhaar for KYC verification with the customer's consent, the Reserve Bank said Wednesday as it updated its list of documents eligible for identification of individuals.
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Over 16.7 lakh DINs deactivated for non-compliance with KYC requirements
India | Dec 21, 2018, 05:29 PM ISTThe government deactivated director identification numbers (DINs) of more than 16.7 lakh individuals till the end of November, as they failed to comply with KYC requirements.
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Banks can use Aadhaar eKYC for DBT users; physical Aadhaar card for others: UIDAI
India | Oct 28, 2018, 04:28 PM ISTPhysical Aadhaar card can be used for verification in an offline mode if produced voluntarily, the UIDAI clarified.