The regulator held that the bank last uploading or updating KYC data in CKYCR is responsible for identity and address verification. Other banks may rely on such records without re-verification, ...

“Video KYC gives banks a defensible compliance posture. It satisfies full customer due diligence and provides evidence when ...

The central bank allows lenders to open digital savings accounts with just a basic Aadhaar and PAN card check. However, rules ...

With digital transactions rising rapidly across India, cases of online fraud and financial scams have also seen a sharp ...

As regulatory scrutiny tightens and penalties mount, Indian banks are under growing pressure to fix gaps in AML and KYC ...

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Reserve Bank of India recently released report on Trend and Progress of Banking in India 2024–25 offers a candid assessment ...

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. This step comes as part of the Bank’s ongoing efforts and commitment to ...

In a renewed push to contain fraud and improve customer safeguards, RBI has asked banks to clear the growing backlog in KYC updates and warned.

The regulator held that identity and address verification rests with the entity last uploading KYC data to CKYCR. Local area banks relying on valid records need not re-verify, while remaining ...