Reserve Bank of India has shown interest in allowing new ways and methods to verify customers - and this includes live video-based KYC. Why is it required? And how this will happen?
Almost 50% of India’s current telecom users are staring at an impossible reality: Their SIM connections can be disconnected if they have obtained their connection via Aadhaar-KYC mode.
Supreme Court’s strong verdict on Aadhaar and its usage has compelled the Govt. to promote and encourage offline methods for performing KYC.
Reserve Bank of India has ordered Paytm Payments Bank to immediately stop adding new customers. What is the exact reason?
Based on feedback and security audits, it has been found that not all mobile wallets have the required security protocols to protect their database.
Insider sources have revealed that right now RBI is finalizing the protocols to allow interoperability between mobile wallets in India within a month.
Xiaomi’s Mi Credit platform has been developed in association with KreditBee, which is an instant loan platform for young professionals. KreditBee is an NBFC (Non-Banking Financial Company) registered with RBI.
RBI had instructed that after March 1st, mobile wallets users who have not completed their KYC process cannot add more money into their wallets; although they can use the existing money. This has resulted in a massive drop in transactions,…
As per the new rule, RBI has added a line that every entity under them must obtain “from an individual who is eligible for enrolment of Aadhaar”: Aadhaar, PAN Card or Form 60. Every Indian citizen can obtain Aadhaar; and hence, indirectly,…
The mobile wallet users of Paytm, MobiKwik, Freecharge, Amazon Pay, PhonePe, OLA Money and others will not be able to use their mobile wallets to transact from now if the KYC is incomplete. As per the new RBI guidelines, the digital wallets…