KYC norms

बैंको, वित्तीय संस्थानों और बीमा कंपनियों द्वारा खुलेआम कस्टुमर का पर्सनल डाटा किया जा रहा लीक

Fema / RBI - क्या ऐसे बनेगी डिजिटल अर्थव्यवस्था, जहां व्यक्ति की पर्सनल सूचना की कोई सुरक्षा नहीं? १. आप बैंक से लोन ले या खाता खोलें २. आप वित्त...

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Roadmap of Director Identification Number (Allotment, KYC & Changes)

Fema / RBI - DIN (Director Identification Number) is a unique Identification Number allotted to an individual who is appointed /proposed to be appointed as a director of a company or designated partner in a Limited Liability Partnership (LLP). In the case of a new company, an application for allotment of DIN shall be made only through SPICe + [&hellip...

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Can banks freeze operations in dormant/inoperative bank accounts

Fema / RBI - Do the banks have the right to freeze operations in dormant/inoperative Savings, Current accounts (that are not due for KYC review), stop access to ATM, Internet & Mobile Banking, and/or return/bounce cheque/s drawn by their customers on these CASA accounts? Also Read: Unlawful Freezing of Bank Account by banks for pendency of Re-KYC ...

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Unlawful Freezing of Bank Account by banks for pendency of Re-KYC

Fema / RBI - Why RBI is sitting like a spectator when commercial and coop banks unlawfully freeze accounts of customers in the name of pendency of Re-KYC (KYC review) and give contradictory signals through its formal communications? Also Read: Can banks freeze operations in dormant/inoperative bank accounts Note: This article is written with consumers...

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Guidelines to SEBI KYC Registration Agency (KRA) Regulations, 2011

Fema / RBI - KRAs shall continue to act as repository of KYC data in the securities market and shall  be  responsible  for  storing,  safeguarding  and  retrieving  the  KYC documents  and  submit  to  the  Board  or  any  other  statutory  authority  as  and when required....

Read More

Piyush Goyal calls for a Single portal KYC system for Stock Brokers, Mutual Fund

Fema / RBI - Shri Piyush Goyal calls for a Single window portal for doing robust common KYC system for Stock Brokers, Mutual Fund and depositories etc Shri Piyush Goyal calls for transparency and integrity in the stock markets to empower households and investment besides encourage investments. The NSE has been able to eliminate a lot of bad practices ...

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Telecom Reforms- Govt. Simplifies KYC processes

Fema / RBI - Highlight: -As per the new orders, Aadhaar-based e-KYC process has been reintroduced for issuing new mobile connections. -Telecom service providers will be charged Re 1 per customer authentication by the UIDAI. -Customer consent has been made compulsory in case the Aadhaar is being used and demographic details are being obtained electroni...

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DIN-KYC Fees of Rs. 5000 is nothing than extortion for Non compliances

Fema / RBI - BJP professional cell, Mumbai has requested FM that The KYC for DIN Of Director should be once in 5 years or linked to be Aadhar etc. unless there are changes to be voluntarily complied and Even if there is delay a token fee to be levied (Say Rs. 100)  and not Rs.5000 which is nothing […]...

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Norms of Aadhaar KYC eased for opening of bank account

Fema / RBI - Norms of Aadhaar KYC are eased, not of the Change of Address in Aadhaar Norms of Aadhaar KYC are eased for opening of bank account and not for the change of address in Aadhaar, said the Department of Revenue (DoR), Ministry of Finance today while clarifying on Aadhaar KYC use with reference to its notification […]...

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Mandatory Annual KYC of all Directors of all companies

Fema / RBI - As part of updating its registry, MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC . DIR-3 KYC is been notified vide Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 and would be made available shortly for filing purposes. While filing...

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Periodic Updation of KYC details of Customers

Press Release: 2022-2023/1500 - (05/01/2023) - Fresh KYC process can be done by visiting a bank branch, or remotely through a Video based Customer Identification Process (V-CIP) (wherever the same has been enabled by the banks), as provided in Section 18 of the Master Direction on KYC....

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EPFO: Withdrawal of prosecutions cases related to non-submission of KYC

File No. Compliance/Pollcy/WithdrawalofProsecutionCases/2022/10863 - (26/09/2022) - EPFO Regional Office to consider application for withdrawal of prosecutions cases related to non-submission of KYC if employer request for withdrawal of prosecution by application before RPFC/Competent court...

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Automated deactivation of trading & demat accounts in cases of inadequate KYCs

SEBI/HO/EFD1/EFD1_DRA4/P/CIR/2022/104 - (29/07/2022) - To ensure that client furnishes accurate/updated details of address and to ensure that KYC details are correct, following framework involving stock exchanges is proposed...

Read More

SEBI {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022

Notification No. SEBI/LAD-NRO/GN/2022/72 - (28/01/2022) - 1. These regulations may be called the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette....

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Periodic Updation of KYC – relaxation extended till 31.03.2022

Notification No. RBI/2021-22/144 DOR.AML.REC.74/14.01.001/2021-22 - (30/12/2021) - Periodic Updation of KYC – Restrictions on Account Operations for Non-compliance - In view of prevalent uncertainty due to new variant of Covid-19, the relaxation provided is hereby extended till March 31, 2022....

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Recent Posts in "KYC norms"

Periodic Updation of KYC details of Customers

Press Release: 2022-2023/1500 05/01/2023

Fresh KYC process can be done by visiting a bank branch, or remotely through a Video based Customer Identification Process (V-CIP) (wherever the same has been enabled by the banks), as provided in Section 18 of the Master Direction on KYC....

Read More

बैंको, वित्तीय संस्थानों और बीमा कंपनियों द्वारा खुलेआम कस्टुमर का पर्सनल डाटा किया जा रहा लीक

क्या ऐसे बनेगी डिजिटल अर्थव्यवस्था, जहां व्यक्ति की पर्सनल सूचना की कोई सुरक्षा नहीं? १. आप बैंक से लोन ले या खाता खोलें २. आप वित्त...

Read More
Posted Under: Finance |

EPFO: Withdrawal of prosecutions cases related to non-submission of KYC

File No. Compliance/Pollcy/WithdrawalofProsecutionCases/2022/10863 26/09/2022

EPFO Regional Office to consider application for withdrawal of prosecutions cases related to non-submission of KYC if employer request for withdrawal of prosecution by application before RPFC/Competent court...

Read More

Roadmap of Director Identification Number (Allotment, KYC & Changes)

DIN (Director Identification Number) is a unique Identification Number allotted to an individual who is appointed /proposed to be appointed as a director of a company or designated partner in a Limited Liability Partnership (LLP). In the case of a new company, an application for allotment of DIN shall be made only through SPICe + [&hellip...

Read More
Posted Under: Finance |

Can banks freeze operations in dormant/inoperative bank accounts

Do the banks have the right to freeze operations in dormant/inoperative Savings, Current accounts (that are not due for KYC review), stop access to ATM, Internet & Mobile Banking, and/or return/bounce cheque/s drawn by their customers on these CASA accounts? Also Read: Unlawful Freezing of Bank Account by banks for pendency of Re-KYC ...

Read More
Posted Under: Finance |

Unlawful Freezing of Bank Account by banks for pendency of Re-KYC

Why RBI is sitting like a spectator when commercial and coop banks unlawfully freeze accounts of customers in the name of pendency of Re-KYC (KYC review) and give contradictory signals through its formal communications? Also Read: Can banks freeze operations in dormant/inoperative bank accounts Note: This article is written with consumers...

Read More
Posted Under: Finance |

Automated deactivation of trading & demat accounts in cases of inadequate KYCs

SEBI/HO/EFD1/EFD1_DRA4/P/CIR/2022/104 29/07/2022

To ensure that client furnishes accurate/updated details of address and to ensure that KYC details are correct, following framework involving stock exchanges is proposed...

Read More

Guidelines to SEBI KYC Registration Agency (KRA) Regulations, 2011

KRAs shall continue to act as repository of KYC data in the securities market and shall  be  responsible  for  storing,  safeguarding  and  retrieving  the  KYC documents  and  submit  to  the  Board  or  any  other  statutory  authority  as  and when required....

Read More
Posted Under: Finance |

SEBI {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022

Notification No. SEBI/LAD-NRO/GN/2022/72 28/01/2022

1. These regulations may be called the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette....

Read More

Piyush Goyal calls for a Single portal KYC system for Stock Brokers, Mutual Fund

Shri Piyush Goyal calls for a Single window portal for doing robust common KYC system for Stock Brokers, Mutual Fund and depositories etc Shri Piyush Goyal calls for transparency and integrity in the stock markets to empower households and investment besides encourage investments. The NSE has been able to eliminate a lot of bad practices ...

Read More
Posted Under: Finance |

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