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RBI allows banks to complete Aadhaar-based authentication on video

RBI allows banks to complete Aadhaar-based authentication on video

Friday, January 10, 2020, 10:42 AM

The Reserve Bank of India (RBI) has introduced Aadhaar-based Video Customer Identification Process (V-CIP) to allow banks and other lenders to remotely complete KYC of customers on video. Lenders can use this facility as an alternative to the already available e-KYC facility. The central bank has amended its guidelines under the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 to introduce V-CIP.
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