KYC norms

Understanding Director KYC Requirements in FY 2023-24

Company Law - Discover essentials of Director KYC for fiscal year 2023-24. Learn about DIN, filing requirements, and consequences of non-compliance....

DIR-3 KYC certification by Professionals- What needs to be certified

Company Law - Discover the essential considerations for professionals while preparing, verifying, and certifying e-form DIR-3 KYC. Learn about the required information, verification methods, engagement letters, and more in this informative editorial....

SEBI: Form & norms for furnishing PAN, KYC details & Nomination

Company Law - Summary of Common and simplified norms for processing investor service requests by RTAs and norms for furnishing PAN, KYC details, and Nomination. SEBI on March 16, 2023, issued a notification regarding Common and simplified norms for processing investor service requests by RTAs and norms for furnishing PAN, KYC details, and Nomination. I...

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

Company Law - 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...

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

Company Law - 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...

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

Company Law - 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 ...

Telecom Reforms- Govt. Simplifies KYC processes

Company Law - 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...

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

Company Law - 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 […]...

Norms of Aadhaar KYC eased for opening of bank account

Company Law - 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 […]...

Mandatory Annual KYC of all Directors of all companies

Company Law - 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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Aadhaar Verification under PMLA: PFRDA Guidelines & NPCI Responsibilities

Circular no.: PERDA/2023/22/REG-POP/05 - (25/07/2023) - Learn about the PFRDA's recent announcement on Aadhaar verification under PMLA. Understand the responsibilities of Reporting Entities and NPCI in e-KYC setup....

Amendment to Master Direction (MD) on KYC – Instructions on Wire Transfer

RBI/2023-24/25 DOR.AML.REC.13/14.01.001/2023-24 - (04/05/2023) - Amended instructions of Section 64 of the MD on KYC are provided in annexure for reference. Further, definitions of relevant terms used in amended Wire Transfer instructions are being added in Section 2 (Definitions) of MD on KYC....

Investment via E-wallet in Mutual Funds only if its fully compliant with KYC norm

Circulars No. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2023/40    - (23/03/2023) - SEBI permitted use of e- wallet for investment in Mutual Funds within the umbrella limit of INR 50,000 for investments by an investor through both e-wallet and/or cash, per Mutual Fund per financial year....

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....

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...

Recent Posts in "KYC norms"

Understanding Director KYC Requirements in FY 2023-24

Discover essentials of Director KYC for fiscal year 2023-24. Learn about DIN, filing requirements, and consequences of non-compliance....

Posted Under: Corporate Law |

DIR-3 KYC certification by Professionals- What needs to be certified

Discover the essential considerations for professionals while preparing, verifying, and certifying e-form DIR-3 KYC. Learn about the required information, verification methods, engagement letters, and more in this informative editorial....

Posted Under: Corporate Law |

Aadhaar Verification under PMLA: PFRDA Guidelines & NPCI Responsibilities

Circular no.: PERDA/2023/22/REG-POP/05 25/07/2023

Learn about the PFRDA's recent announcement on Aadhaar verification under PMLA. Understand the responsibilities of Reporting Entities and NPCI in e-KYC setup....

Amendment to Master Direction (MD) on KYC – Instructions on Wire Transfer

RBI/2023-24/25 DOR.AML.REC.13/14.01.001/2023-24 04/05/2023

Amended instructions of Section 64 of the MD on KYC are provided in annexure for reference. Further, definitions of relevant terms used in amended Wire Transfer instructions are being added in Section 2 (Definitions) of MD on KYC....

Investment via E-wallet in Mutual Funds only if its fully compliant with KYC norm

Circulars No. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2023/40    23/03/2023

SEBI permitted use of e- wallet for investment in Mutual Funds within the umbrella limit of INR 50,000 for investments by an investor through both e-wallet and/or cash, per Mutual Fund per financial year....

SEBI: Form & norms for furnishing PAN, KYC details & Nomination

Summary of Common and simplified norms for processing investor service requests by RTAs and norms for furnishing PAN, KYC details, and Nomination. SEBI on March 16, 2023, issued a notification regarding Common and simplified norms for processing investor service requests by RTAs and norms for furnishing PAN, KYC details, and Nomination. I...

Posted Under: Corporate Law |

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....

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...

Posted Under: Corporate Law |

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...

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...

Posted Under: Corporate Law |

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