Kyc
RBI says re-KYC completed for over 3.5 mn accounts in FI campaign
RBI reports 3.5 mn bank accounts have completed re-KYC during nationwide financial inclusion camps running from July to September 2025 at Gram Panchayat level
RBI announces 3 consumer-centric schemes to drive financial inclusion
Banks will be setting up camps at the Panchayat-level from July 1 to September 30, to provide re-KYC services at consumers' doorsteps
Canara Bank to recruit people proficient in local languages: MD & CEO
We target that our recoveries should be substantially higher than the slippages, says K Satyanarayana Raju
One nation, one KYC: Sebi shows the way, other regulators should follow
Other regulators should follow Sebi's lead in explicitly stating that once a client completes KYC with one intermediary, they shouldn't have to repeat the process with another
PNB urges customers to update KYC details by August 8 to avoid issues
In adherence to the Reserve Bank of India (RBI) guidelines, Punjab National Bank (PNB) has asked its customers to update their 'Know Your Customer' (KYC) information by August 8, to ensure smooth functioning of their accounts. Failure to update KYC details within the stipulated time may result in restrictions on account operations, it said. This is applicable only for those customers whose accounts are due for KYC updation as of June 30, 2025, PNB said in a statement. As part of the KYC compliance exercise, PNB customers are requested to provide their updated information like identity proof, address proof, recent photo, PAN/Form 60, income proof, mobile number (if not available) or any other KYC information at any branch, it said. It can also be done through PNB ONE/Internet Banking Services (IBS) or registered e-mail/post to their base branch by August 8, 2025.
Updating your mutual fund KYC? Post offices can now do it for you
Experts believe the tie-up could help resolve long-standing bottlenecks in KYC compliance, particularly in underserved regions
Registered intermediaries allowed to use NPCI's e-KYC Setu System: Sebi
To make the KYC process easier, markets regulator Sebi on Monday said that registered intermediaries are allowed to use 'e-KYC Setu System' of National Payments Corporation of India (NPCI) to perform digital KYC. Registered intermediaries can use this facility to perform digital KYC, as an additional alternate mechanism available to them to carry out Aadhaar-based e-KYC of their clients. Under the present framework, registered intermediaries use e-KYC services of Unique Identification Authority of India (UIDAI) in the securities market. This service has been accepted as a valid process for digital Know Your Client (KYC) verification using KYC User Agency mechanism and or the Digilocker. NPCI along with UIDAI has developed and implemented a system known as 'e-KYC Setu System' to enable digitization of the customer onboarding.
RBI issues final guidelines on due diligence of AePS touchpoint operators
RBI's new AePS guidelines, effective January 2026, require acquiring banks to perform due diligence, monitor transactions, and update KYC of inactive operators
Data sharing platform Equal named among WEF's top 100 global tech pioneers
The fintech startup has been recognised by the World Economic Forum for its secure, consent-based infrastructure powering KYC and data sharing across financial services
Face authentication to be made mandatory for Anganwadi beneficiaries
The women and child development ministry has directed all states and Union territories to implement mandatory face recognition system for take-home ration distribution and child attendance monitoring at Anganwadi centres. According to a letter issued by the ministry last month, the face recognition feature will now be accessible within the beneficiary profiles on the Poshan tracker application. Beneficiaries will also have the option to self-register using the citizen module of the tracker for e-KYC and photo capture. From July 1, marking attendance and recording hot cooked meal consumption for children aged 3-6 years will be compulsory across Anganwadi centres. The same date marks the beginning of mandatory face recognition-based authentication for take-home ration distribution. The move aims to ensure last-mile delivery and plugging leakages in the system. The ministry has also said that from August 1, face recognition will be made mandatory at the time of new beneficiary ...
Reduce unclaimed assets: FM Sitharaman to financial sector regulators
At the 29th FSDC meeting, FM Nirmala Sitharaman pushed for swift return of unclaimed financial assets and called for simplified, unified KYC norms across all sectors
FM asks regulators to expedite refund on unclaimed deposits, streamline KYC
Finance Minister Nirmala Sitharaman on Tuesday asked regulators and departments to expedite the refund of unclaimed deposits to rightful owners and streamline the KYC process. Chairing the 29th meeting of the Financial Stability and Development Council (FSDC) here, she emphasised that interest of common citizens to be kept in mind and expeditiously refund the claims of the rightful claimants. She exhorted the Council to take proactive steps to ensure that citizens should have a seamless experience with respect to KYC processes across the financial sector, the finance ministry said in a statement. There is a need for common KYC norms, simplification and digitalisation of the KYC process including digital onboarding for Non-Resident Indians (NRIs) including PIOs and OCIs, in the Indian securities market. The minister urged the regulators and departments to expedite the process of refund to rightful owners of unclaimed amounts by holding special district-level camps. This drive is to
Banks must offer KYC update to reactivate inactive accounts: RBI draft
RBI's draft proposes KYC updates at all bank branches and via video to ease activation of inoperative or unclaimed accounts and reduce dormant deposit numbers
Sebi working to set up centralised KYC system: Tuhin Kanta Pandey
Markets regulator Sebi is actively working with the Ministry of Finance and other financial regulators on setting up a centralised KYC (Know Your Customer) system, chairman Tuhin Kanta Pandey has said. The Central KYC is an online database that maintains KYC records of customers in a centralised manner, aiming to streamline compliance across financial institutions. When asked about the common KYC system, Pandey told PTI, "Yes, I think we will move forward on that also. We're really trying to have a system which will be very, very effective." He added that the finance secretary is chairing the committee responsible for this initiative, and efforts are underway to expedite the process. While no definitive timeline was shared, Pandey expressed optimism, saying, "It should be done quite early." To illustrate the effectiveness of current systems, he cited the robust KRA (KYC Registration Agency) system. "This system is right now very effective where you do one KYC and then, everywhere
Digital access is a right: SC directs KYC changes for disabled persons
It also directed different ministries to ask all regulating authorities, government or private, to follow accessibility standards as prescribed from time to time
'Digital access is a right': SC directs KYC changes for disabled persons
The Supreme Court says digital access is a fundamental right under Article 21; issues 20 directions to make KYC accessible for visually impaired persons and acid attack survivors
Sebi proposes framework for winding down of KYC registration agencies
In a consultation paper, Sebi emphasised that the framework must guarantee uninterrupted services, protection of investor KYC data, and the fulfilment of statutory and contractual obligations
India Post launches KYC verification for mutual funds at your doorstep
KYC compliance is mandatory for investing in mutual funds. Without completing this process, investors cannot participate in mutual fund schemes offered by any fund house
The UPI of 2016 and today are completely different: NPCI MD & CEO Asbe
The primary focus remains on growing UPI, which has 10X growth potential. Currently, 400 to 450 million users use it monthly, it has the potential to grow to over 1 billion, said Dilip Asbe, MD, NPCI
