Page 2 - E-kyc

KYC norms hindering financial penetration

CKYC is failing to have the desired impact due to lack of clear directions from the regulators, and lack of connectivity between the stakeholders and the repository

CDSL gets UIDAI nod for e-KYC authentication for opening accounts online

CDSL said it will facilitate intermediaries to offer seamless online account opening using Aadhaar-based e-KYC

After Covid-19

Digital public goods can backstop the Indian economy

RBI approves Aadhaar-based video authentication as alternative to e-KYC

Video KYC will have to be verified through Aadhaar

Linking Aadhaar with social media or ending encryption is counterproductive

The need of the hour is sustained research and development of privacy protecting surveillance mechanisms

Video-KYC needed for foolproof verification, suggests MSME report

The report has elaborated a nine-step process for performing video KYC, as part of performing a digital KYC wherever possible

Post SC ruling, Fintechs replacing Aadhaar with innovative e-KYC processes

While some have developed video-based authentication that uses govt identification such as PAN card, driving licence and passport, others are using selfie-based IDs through cell phones or laptops

Consent of clients must to use Aadhaar for e-KYC

The insurers have to maintain KYC records of their clients

Your Money: Revised e-KYC can expedite opening of accounts

But a/c has to be regularised in a year; there are also limits on amount