Wednesday, June 19, 2019, 10:31 AM
The Reserve Bank of India has fined HDFC Bank Rs.1 crore for non-compliance with the central bank's norms on 'know your customer (KYC)/anti-money laundering (AML)' and 'reporting of frauds'. "This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers," the RBI said.
Wednesday, June 5, 2019, 11:55 AM
The Reserve Bank of India has said that strong regulations have helped India's payments system grow rapidly and earned leadership position in the world even as bringing down volume of paper clearing along with raising acceptance of digital utility bill payments still remains a challenge. There has been substantial growth in e-payments by government and also in digital infrastructure in terms of mobile networks.
Wednesday, May 8, 2019, 5:47 PM
All independent directors may have to register as part of a new initiative by the MCA, which also plans to introduce online training modules on various issues that these board members deal with. While registration is proposed to be made mandatory through an online facility, the training through electronic modules, that are being prepared by Indian Institute of Corporate Affairs, will be purely voluntary.
Thursday, March 7, 2019, 7:55 PM
Business organisations using Aadhaar services will now have to pay Rs 20 for each customer verification and 50 paise for authentication of each transaction carried out by the entities, the Unique Identification Authority of India (UIDAI) said on March-7. The gazette notification, the Aadhaar (Pricing of Aadhaar Authentication Services) Regulations 2019, however, exempts government entities and the Department of Posts from authentication transaction charges.
18 January 2019, Friday
What is EPF (Employees' Provident Fund) in India? In an EPF, both employee and the employer make a contribution to employee account. Its ...
14 January 2019, Monday
What is an Index Fund? Index Fund is a mutual fund that tracks and tries to replicate an index like BSE Sensex and Nifty 50. These funds purc ...
31 December 2018, Monday
Mutual fund is the most popular way of investment and wealth creation. The mutual fund market has it ...
31 December 2018, Monday
What is EPF? Employee Provident Fund or EPF, is a scheme under which both the employee and employ ...
Monday, December 3, 2018, 9:51 AM
The government and RBI are reportedly in talks to allow the use of 'offline Aadhaar', which relies on the use of QR codes, instead of the biometric eKYC, for opening bank accounts, operating payment wallets, and other areas. According to the source, this move is expected to benefit the financial technology companies.
Tuesday, November 6, 2018, 6:44 AM
Large telecom operators, including Vodafone Idea and Bharti Airtel, have begun rolling-out an alternative digital KYC process for new-connections, which will replace Aadhaar-based electronic verification process. Reliance Jio sources indicated that operator has a-plan-on alternative digital KYC and will roll it out soon. However, it is not immediately clear if telecom service providers are, for now, continuing Aadhaar eKYC for verification of new subscribers.
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