1 / 2

Relief to e-wallets: RBI extends KYC compliance norms by six months

RBI extends KYC compliance norms by six months. The earlier deadline was February 28

aditimehta236
Download Presentation

Relief to e-wallets: RBI extends KYC compliance norms by six months

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Relief to e-wallets: RBI extends KYC compliance norms by six months The earlier deadline was February 28 In an alleviation to e-wallet organizations, the Reserve Bank of India Monday stretched out by a half year the due date for consistence with Know Your Customer (KYC) standards, for prepaid installment instrument (PPI) backers.

  2. The prior due date was February 28. "In light of solicitations got from different partners to expand the above course of events by virtue of challenges in embraced Aadhaar e-KYC and time important to set up elective frameworks for finishing the KYC procedure, it has been chosen to permit PPI backers extra time of a half year for fruition of the KYC procedure," the RBI said in an announcement. PPIs are instruments that encourage buy of merchandise and ventures, including monetary administrations and settlement offices, against the esteem put away on such instruments. E-wallet organizations were gotten in a tough situation over approaching due date as organizations were troubled that they won't most likely fulfill the national bank's time constraint to finish KYC of all clients by February-end. Questions sent to Paytm, MobiKwik, Flipkar PhonePe and Amazon Pay did not evoke any reaction. Continue Reading

More Related