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Banking News : Indian Banking::KYC

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RBI Penalty Rs. 50 lac on ICICI Bank and Rs.25 lac on Bank of Baroda for KYC Norms Violation
  RBI, Reserve Bank of India on December 17 imposed penalties Rs.50 lac on ICICI Bank and Rs. 25 lac on Bank of Baroda for violating 'Know Your Customer' (KYC) as..    Read  
  By: RanjanPlace: Mumbai21 Dec 2014Indian Banking::KYCView 
RBI asked Banks to freeze and Close Non-KYC Compliant Accounts after due notice and reminder
  RBI simplified KYC compliance for opening of accounts in banks last months and also issued notice for on non-KYC complaint bank accounts.    Read  
  By: EktaPlace: New Delhi26 Oct 2014Indian Banking::KYCView 
Address Proof for Bank Account Opening Simplified by RBI:Only One Proof Required
  RBI has instructed all banks to open bank accounts on the basis of any one proof permanent address proof or local correspondence address proof.    Read  
  By: AmitPlace: New Delhi14 Jun 2014Indian Banking::KYCView 
Banks to update KYC data once in two yrs for high risk and 10 yrs for low-risk
  Banks are allowed relaxations by Reserve Bank of India for updation of know-your-customer (KYC) data. Reserve Bank of India said on Tuesday, that Banks would ..    Read  
  By: Anurag (Source: Business Standard)Place: Mumbai24 Jul 2013Indian Banking::KYCView 
RBI penalises Rs 49.5 cr 22 banks for violating KYC and AML norms
  The Reserve Bank of India (RBI) imposed penaltied totalling Rs 49.5 crore on 22 private and public sector banks for violating know your customer/anti-money laun..    Read  
  By: Anurag (Source: Business Lines)Place: Mumbai16 Jul 2013Indian Banking::KYCView 
RBI relaxing KYC norms to make the process hassle-free
  Reserve Bank of India (RBI) is making efforts to ease KYC norms in view of difficulties faced by customers in opening new bank accounts.    Read  
  By: Anurag (Source: Business line)Place: Coimbatore24 Jun 2013Indian Banking::KYCView 
Cobrapost exposure resulted in penalty on 3 private banks by RBI
  Reserve Bank of India taking tough stand against top three private sector banks — ICICI Bank, HDFC Bank and Axis Bank slapped fine after Cobrapost exposure fo..    Read  
  By: Anurag (Source: Business Line)Place: Mumbai11 Jun 2013Indian Banking::KYCView 
RBI Eyes on Multiple Bank Accounts: Unique Single ID for Each Customer
  RBI is closely watching such accounts which are under same name but with different customer IDs to have control over black money.    Read  
  By: RanjanPlace: New Delhi03 Jun 2013Indian Banking::KYCView 
Cobrapost expose: ICICI, Axis and HDFC Banks served with I-T notices
  ICICI Bank, Axis Bank, and HDFC Bank, India’s top three private sector banks have been served with Income Tax department summons notices in money laundering a..    Read  
  By: Anurag (Source: Economic Times)Place: New Delhi28 May 2013Indian Banking::KYCView 
  By: Place: New Delhi27 May 2013Indian Banking::KYCView 
Cobrapost-III: exposes 10 more banks
  Cobrapost has exposed 10 more banks — five each from the public sector and private sector in its third video release.    Read  
  By: Anurag (Source: Business Standard)Place: Mumbai10 May 2013Indian Banking::KYCView 
RBI: It is responsibility of govt and tax authorities to check money laundering
  Reserve Bank of India, Governor, D Subbarao said that RBI and banks are not directly responsible for money laundering.    Read  
  By: Raj KumarPlace: Mumbai09 May 2013Indian Banking::KYCView 
Cobrapost Exposed 23 Banks and Insurance Cos involvement in Money Laundering:Fin Min in action
  Banks and Insurance companies’ involvement in money laundering in India exposed by Cobrapost in their specila Sting Operation Operation Red Spider Part II. Th..    Read  
  By: Ranjan(Source:Cobrapost)Place: New Delhi07 May 2013Indian Banking::KYCView 
Cobrapost Expose II: 23 Banks and insurance co running a money-laundering racket
  Cobrapost second sting has exposed 23 banks (public and private) and insurance companies including SBI & LIC running a money-laundering racket    Read  
  By: Anurag (Source: Business Line)Place: New Delhi07 May 2013Indian Banking::KYCView 
Banks taking steps to get Know Your Customer details
  Banks have step up efforts to get Know Your Customer details by different means. In case of non submission of KYC documents by customer some banking services ma..    Read  
  By: Anurag (Source: Business Line)Place: Mumbai26 Apr 2013Indian Banking::KYCView 
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