Govt eases rule for change of address in KYC dealings
The changes were made by amending the Prevention of Money Laundering Rules, as per a gazette notification.
Transmission of mutual fund units of HUF when karta changes
KYC documents of the new Karta and the HUF need to be provided. Transmission form...
RBI bans use of agents to chase loans
The regulatory decision is aimed at reducing data theft and minimising operational risk for banks
Banks from non-BIS countries now eligible for an FPI licence
Indian regulators have been wary of indirect investment routes.
MCA amends rules to allow Companies to comply with KYC norms
The Ministry of Corporate Affairs (MCA) has amended what is called the Rule 25A, to allow companies to make a filing about their directors and become compliant. The decision came in as a relief for companies that were marked ACTIVE non-compliant.
Centre to scrutinise companies that haven't filed online KYC details
The government expected another 1.5 lakh companies to complete filing the KYC forms within the next month.
eKYC, Digital KYC for opening bank accounts to make process secure: UIDAI
Digital KYC will ensure a smooth process for those who do not want to share their Aadhaar number for opening bank account.
Simpler KYC may not make life easier for NBFCs
Govt's move on customer onboarding through Aadhaar may not bring down costs on physical verification for shadow banks.
PhonePe, Paytm have till February 2020 to update KYC
Industry body Payments Council of India hopes that the government would come up with a method that would enable mobile wallet users to avoid face-to-face verifications.
NBFCs can use Aadhaar-based bank KYC to give loans
Recently, the government amended the Prevention of Money Laundering (PMLA) Act to allow digital KYC.
A liberal competition law in the works to facilitate M&As
A liberal competition law, mediation and conciliation under IBC and LLP revamp has been planned by the ministry.
In drive against shell companies, KYC to be made mandatory for firms
The KYC process will make it mandatory for cos to share details of their key executives and professionals
How to transfer National Savings Certificates?
The transferee must provide a signed declaration in the prescribed format to abide by the rules pertaining to the issue of NSC.
mWallet firms look to RBI for eKYC options
Nasscom wants time till March 2020 and easy access to Aadhaar for wallet companies.
Relief for Mobile wallets: RBI gives cos time till February 28 next year to comply with KYC norms
Companies ran the risk of losing thousands of customers if they had failed to comply with the August 31 deadline.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service