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.
Sovereign Gold Bonds open today: Issue price fixed at Rs 4,590 per gram; all you need to know about low-risk investment
People who have an affinity towards gold investments can consider Sovereign Gold Bonds
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
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.
Budget impact on stock markets: Sensex cracks over 450 points, Nifty declines 122 points in volatile session; power, metal stocks sink
Sensex was trading 458.94 points, or 1.15 percent, lower at 39,449.12 at 1330 hours
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 (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
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 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.
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.
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.
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
The central bank also said the action on the two commercial banks is based on deficiencies in regulatory compliance.
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
This is is seen as a move to check the kind of frauds suspected to have been committed at Dena Bank and OBC.
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.