KYC norms

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

SEBI - 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....

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KYC | Inoperative A/c & Harassment of Customers by Banks & FIs

SEBI - KYC, Re-KYC (KYC review), CKYC, misconceptions around KYC and Dormant/Inoperative Account (A/c): Harassment of Customers by Banks and Financial Institutions (FIs), etc Note for Readers:-The write-up is a bit lengthy but I am sure it will serve as one source of reference to millions of customers of the Financial System. Readers not keen on...

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SEBI Master Direction to get KYC updation to Legal Entities (LES)

SEBI - The purpose of this article is to get an overlook about the direction by Board to Registered intermediaries (RI) to upload the KYC records with Central KYC Records Registry (CKYCR) as well as to get deep understanding about the entity details and documents need to be submitted on Central KYC Records Registry (CKYCR) by Legal […]...

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KYC data of Institution / Legal Entity to be uploaded to CKYCR from April 2021

SEBI - KYC data of Institution / Legal Entity to be uploaded to CKYCR from April 2021 In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, as amended from time to time by the Government of India, Financial Establishments such as, Banks, NBFCs etc. [her...

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cKYC mechanism become a mockery & wastage of country’s resources

SEBI - What is cKYC? Probably some senior persons in the banking industry are aware of the formation of Central KYC registration agency in 2011 and its role etc. cKYC stands for Central KYC which is a centralised repository which allows storage of personal information of the customer centrally. Earlier, when a customer went to a financial [&hell...

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

SEBI - 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

Telecom Reforms- Govt. Simplifies KYC processes

SEBI - 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

SEBI - 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

SEBI - 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

SEBI - 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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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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Application for Aadhaar e-KYC Authentication Licence

RBI/2021-22/98 DOR.AML.REC 48/14.01.001/2021-22 - (13/09/2021) - A detailed procedure for processing of applications under the aforementioned Section for use of Aadhar authentication services by entities other than banking companies has been provided by the Department of Revenue, Ministry of Finance vide their circular dated May 9, 2019....

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PFRDA circular on Central KYC Records Registry (CKYCR)

Circular No. PFRDA/2021/31/SUP-POP/4 - (26/07/2021) - Once KYC Identifier is generated by CKYCR, PoPs shall ensure that the same is communicated in writing and in confidential manner to the subscribers in accordance with Rule 9 (1B) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended;...

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RBI relaxes Video based Customer Identification & KYC Process

Circular No. RBI/2021-22/35 DOR.AML.REC.No.15/14.01.001/2021-22 - (10/05/2021) - On a review, it has been decided to amend the MD on KYC to further leverage the Video based Customer Identification Process (V-CIP) and to simplify and rationalise the process of periodic updation of KYC....

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Recent Posts in "KYC norms"

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: SEBI |

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: SEBI |

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....

Read More

Telecom Reforms- Govt. Simplifies KYC processes

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...

Read More
Posted Under: SEBI |

Application for Aadhaar e-KYC Authentication Licence

RBI/2021-22/98 DOR.AML.REC 48/14.01.001/2021-22 13/09/2021

A detailed procedure for processing of applications under the aforementioned Section for use of Aadhar authentication services by entities other than banking companies has been provided by the Department of Revenue, Ministry of Finance vide their circular dated May 9, 2019....

Read More

KYC | Inoperative A/c & Harassment of Customers by Banks & FIs

KYC, Re-KYC (KYC review), CKYC, misconceptions around KYC and Dormant/Inoperative Account (A/c): Harassment of Customers by Banks and Financial Institutions (FIs), etc Note for Readers:-The write-up is a bit lengthy but I am sure it will serve as one source of reference to millions of customers of the Financial System. Readers not keen on...

Read More
Posted Under: SEBI |

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

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 […]...

Read More
Posted Under: SEBI |

PFRDA circular on Central KYC Records Registry (CKYCR)

Circular No. PFRDA/2021/31/SUP-POP/4 26/07/2021

Once KYC Identifier is generated by CKYCR, PoPs shall ensure that the same is communicated in writing and in confidential manner to the subscribers in accordance with Rule 9 (1B) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended;...

Read More

RBI relaxes Video based Customer Identification & KYC Process

Circular No. RBI/2021-22/35 DOR.AML.REC.No.15/14.01.001/2021-22 10/05/2021

On a review, it has been decided to amend the MD on KYC to further leverage the Video based Customer Identification Process (V-CIP) and to simplify and rationalise the process of periodic updation of KYC....

Read More

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