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  KYC breach: RBI fines HDFC Bank Rs 1 crore for KYC violations

  Business | January 30, 2020 14:22 IST

  The 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 | January 31, 2020 14:19 IST

  SBI 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 | January 23, 2020 18:46 IST

  Depositors have reportedly withdrawn Rs 4.5 crore from a Central Bank of India branch in Tamil Nadu since Saturday after a viral WhatsApp message claimed that an NRC document was being accepted as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 | January 23, 2020 14:29 IST

  The 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 | January 10, 2020 6:41 IST

  The 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 | January 02, 2020 12:49 IST

  Paytm 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 | December 21, 2019 20:25 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 | December 05, 2019 20:33 IST

  The 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 | December 03, 2019 17:14 IST

  The 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 | November 05, 2019 19:41 IST

  The 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 | October 07, 2019 15:00 IST

  SBI 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 | September 02, 2019 15:10 IST

  With 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 | August 28, 2019 19:02 IST

    The 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 | August 27, 2019 17:37 IST

  Are 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 | August 23, 2019 23:38 IST

  Announcing 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 | August 23, 2019 14:32 IST

  If 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 21:54 IST

  Banks 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 | December 21, 2018 17:29 IST

  The 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 | October 28, 2018 16:28 IST

  Physical Aadhaar card can be used for verification in an offline mode if produced voluntarily, the UIDAI clarified.

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  Stop using Aadhar eKYC for verifying users: Govt tells telecom companies

  India | October 27, 2018 0:01 IST

  In a three-page circular, the DoT said Aadhaar e-KYC cannot be used for verifying existing customers as well as giving new SIM connections.