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KYC

Uniform KYC

In a move signalling a shift towards financial sector cohesion, India’s Financial Stability and Development Council (FSDC) has announced plans to standardise ‘know your customer’ (KYC) checks across the industry.

RBI panel suggests inclusion of rupee in IMF’s special drawing rights basket

A RBI panel has suggested that in the long run, India will achieve higher level of trade linkages with other countries, as a result of which the rupee is likely to reach a level where it would be widely used, and proposed the currency’s inclusion in International Monetary Fund’s (IMF) Special Drawing Rights (SDR) basket.

Aadhaar transactions register substantial growth: Govt.

Aadhaar usage and adoption continue to grow at a rapid pace with the number of authentication transactions surging to 219.71 crores in August, registering a growth of over 44 per cent when compared with the previous month, according to data released by the Ministry of Electronics & IT on Thursday.

RBI warns against frauds in guise of KYC update

"Members of public are hereby cautioned not to share account login details, personal information, copies of KYC documents, card information, PIN, password, OTP, etc. with unidentified persons or agencies. Further, such details should not be shared through unverified/unauthorised websites or applications,"