KNOW ALL ABOUT : KYC
Completing KYC formalities is a major hurdle for investors to get into mutual funds. Moreover, the KYC rules are always changing. Here are some ET stories to help you keep abreast of the new rules in being KYC compliant.
Return of Aadhaar-based e-KYC to make life easier for mutual fund investors
Mutual fund distributors who want to undertake Aadhaar authentication services through KUAs (KYC User Age...
NBFCs can use Aadhaar-based bank KYC to give loans
Recently, the government amended the Prevention of Money Laundering (PMLA) Act to allow digital KYC.
With customers’ nod, banks keep using Aadhaar for e-KYC
For instance, Canara Bank executive director M V Rao said the bank is continuing to do Aadhar-based e-KYC with customer consent.
Airtel rolls out 'alternate digital KYC' in select circles for new connections
The process has begun with select circles including Delhi, UP (East) and UP (West) and will be extended to other locations shortly.
UIDAI asks telcos to submit plan to discontinue Aadhaar-based eKYC
A circular to this effect has already been issued to the telecom service providers (TSPs), including Bharti Airtel, Reliance Jio, Vodafone Idea and others.
Treat Virtual ID, UID token as Aadhaar number: UIDAI to agencies
The VID is a temporary 16-digit, randomly-generated number that Aadhaar holder can share for authentication or KYC services.
Aadhaar not mandatory, but it can make your financial life easier
If you want to invest in mutual funds online, Aadhaar-based KYC process is much easier compared to a process that asked for scanned copies of documents.
Paytm offers non-KYC users option to use gift vouchers
These gift vouchers won’t let you send money to others or send it back to your bank accounts. They also come with an expiry date of one year.
Highways ministry urges RBI to exempt FASTags from KYC norm
Currently, vehicle owners need to give details of the vehicle, including its registration proof, and also relevant documents for individual identity and address to acquire FASTags.
Norms of Aadhaar KYC eased, not of changing address in Aadhaar card
The press statement is issued in clarification with the reference to Aadhaar KYC. According to the statement, only norms related to Aadhaar KYC is eased and not in the change of address in the Aadhaar card.
Another KYC scam doing the rounds: Here's how you can protect yourself
A new scam has proliferated across the country in the past few months. Here's how it works.
Use this facility to start investing in SIP without visiting mutual fund office
The investor does not need to visit the AMC office, fill physical forms and attach proofs and payment instruments while starting a SIP.
RBI increases time allowed for converting minimum KYC PPI into full KYC PPI
To complete full KYC, you need requires an in-person verification with your PAN card and proof of address.
EPFO to launch e-inspection system to simplify process
EPFO proposed to amend the Act to limit enquiry period to a maximum of two years in order to curtail harassment.
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