Kyc Norms

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Kyc Norms - Total results - 21
Kotak Mahindra Bank launches video-based KYC for opening of accounts remotely; facility available only for new customers
Business

Kotak Mahindra Bank launches video-based KYC for opening of accounts remotely; facility available only for new customers

Only Indian citizens residing in India during the account opening process are eligible for video KYC, it said adding that the facility is available only for new to Kotak customers.

SEBI eases compliance rules for processing of demat request, KYC application
Business

SEBI eases compliance rules for processing of demat request, KYC application

Markets regulator SEBI on Thursday relaxed compliance norms for depository participants, stock brokers and share transfer agents with regard to the processing of demat request and KYC application amid the coronavirus pandemic

Rupee slips 17 paise to 71.72 against dollar in early trade amid foreign fund outflows, cautious opening in domestic equities
Business

Rupee slips 17 paise to 71.72 against dollar in early trade amid foreign fund outflows, cautious opening in domestic equities

At the interbank foreign exchange, the rupee opened weak at 71.65 then fell to 71.72 against the US dollar, showing a decline of 17 paise over its previous closing.

Union Budget 2019: KYC norms for FPIs to be eased; listing norms for social enterprises: Nirmala Sitharaman
Business

Union Budget 2019: KYC norms for FPIs to be eased; listing norms for social enterprises: Nirmala Sitharaman

Sitharaman said investments by FIIs and FPIs in debt securities would be allowed to be transferred and sold to domestic investors in a timely manner.

Reserve Bank of India fines HDFC Bank Rs 1 crore for not reporting frauds, violation of KYC norms
Business

Reserve Bank of India fines HDFC Bank Rs 1 crore for not reporting frauds, violation of KYC norms

Reserve Bank of India (RBI) on Tuesday fined country's largest private sector lender HDFC Bank Rs 1 crore for not reporting frauds and non-compliance with other directions

RBI slaps penalties on 7 banks for non-compliance of norms; Rs 1.5 cr imposed on Allahabad Bank, Bank of Maharashtra, IOB
Business

RBI slaps penalties on 7 banks for non-compliance of norms; Rs 1.5 cr imposed on Allahabad Bank, Bank of Maharashtra, IOB

The Reserve Bank further said Rs 20 lakh fine each on HDFC Bank, IDBI Bank and Kotak Mahindra Bank for non-compliance with various directions on KYC norms and anti-money laundering standards.

RBI imposes fine of Rs 3 cr each on Deutsche Bank, J&K Bank for non-compliance of various norms
Business

RBI imposes fine of Rs 3 cr each on Deutsche Bank, J&K Bank for non-compliance of various norms

RBI said the penalties on these two banks have been imposed taking into account the failure of the banks to adhere to the directions issued by it.

Reserve Bank of India orders Paytm Payments Bank to stop onboarding customers: Report
Business

Reserve Bank of India orders Paytm Payments Bank to stop onboarding customers: Report

Paytm was reportedly asked to remove Renu Satti as the chief executive of its payments bank, with the RBI raising objections about her ability to lead a banking services firm.

Linking Aadhaar, PAN cards mandatory for opening of bank accounts under new KYC guidelines: RBI
Business

Linking Aadhaar, PAN cards mandatory for opening of bank accounts under new KYC guidelines: RBI

In the amended Customer Due Diligence (CDD) procedure, RBI said, "The Aadhaar number, the PAN or Form No. 60" need to be obtained from an individual who is eligible for applying for the biometric ID.

RBI slaps Rs 5 cr penalty on Airtel Payments Bank for violation of guidelines, KYC norms
Business

RBI slaps Rs 5 cr penalty on Airtel Payments Bank for violation of guidelines, KYC norms

The fine was imposed after RBI scrutinised the Airtel Payment Bank's documents relating to opening of accounts without any specific or clear consent from the customers

RBI slaps penalty of Rs 3 cr on Axis Bank, Rs 2 cr on Indian Overseas Bank for violation of NPA, KYC rules
Business

RBI slaps penalty of Rs 3 cr on Axis Bank, Rs 2 cr on Indian Overseas Bank for violation of NPA, KYC rules

The central bank also said the action on the two commercial banks is based on deficiencies in regulatory compliance.

Electoral bonds: Narendra Modi govt confers anonymity but nothing in them to attract wily donors
Business

Electoral bonds: Narendra Modi govt confers anonymity but nothing in them to attract wily donors

Donors of bonds dare not use their black money for this munificence because they have to be bought from designated branches of the State Bank of India through one’s bank account complying with KYC norms

Lessons learnt? FinMin asks public banks to tighten norms for high value FDs
Finance

Lessons learnt? FinMin asks public banks to tighten norms for high value FDs

This is is seen as a move to check the kind of frauds suspected to have been committed at Dena Bank and OBC.

Sebi eases KYC norms for foreign investors
Investing

Sebi eases KYC norms for foreign investors

Sebi also classified foreign investors eligible to make portfolio investments in the country under three broad segments as per their risk profile, while putting the government and other sovereign entities in the lowest-risk Category I.

Banks need to comply with KYC norms better: RBI on Cobrapost expose<br /><br />
Business

Banks need to comply with KYC norms better: RBI on Cobrapost expose<br /><br />

Amid allegations of money laundering by top three private banks, the RBI today said that its probe into their activities revealed the banks did not follow KYC norms while selling third party products.