KYC Current Affairs, GK & News

RBI’s Second Cohort under Regulatory Sandbox

The Reserve Bank of India recently announced the second cohort under Regulatory Sandbox. It was announced under the theme of “Cross Border Payments”. What is Regulatory Sandbox? The Regulatory Sandbox refers to live testing of new products and services in a controlled environment. The companies can test their product viability without the need for a ..

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Data security after Capital One data breach

In what could be a major deterrent for governments looking to promote digital transactions and attempting to store data online, a data breach in a financial firm has led to the loss of personal information of 106 million people in the United States and in Canada. What had happened? The total loss to the financial ..

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Recommendations of the Nilekani Panel for strengthening Digital Payments

The panel headed by Nandan Nilekani has submitted the recommendations to the Reserve Bank of India (RBI) for strengthening digital payments ecosystem. Recommendations of the Nilekani Panel The committee has listed a comprehensive set of regulatory interventions that will be needed to achieve the goal of a less-cash economy. The recommendations include: Easing KYC costs ..

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Homogeneous KYC Regulation norms by Nov’11

SEBI to come out by Nov’11 Homogenous norms for setting up a uniform Know Your Customer (KYC) Regulation Authority. It will relieve the burden comparable on the intermediaries as well as the common man, seeking to make investments. This mechanism once set would make certain that KYC exercise is undertaken only once and enabling all ..

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