Photo for representation only
Mumbai, May 5
The RBI on Wednesday asked banks and other regulated financial entities not to impose any punitive restriction against customers for failure to update KYC till December-end, in view of the second wave of coronavirus cases.
Regulated entities are being advised that for the customer accounts where periodic KYC updating is due/pending, no punitive restriction shall be imposed till December 31. —Shaktikanta Das, RBI Governor
The RBI has also decided to extend the scope of video KYC (know-your-customer) or V-CIP (video-based customer identification process) for new categories of customers such as proprietorship firms, authorised signatories and beneficial owners of legal entities. — PTI
Join Whatsapp Channel of The Tribune for latest updates.
Most Read In 24 Hours
Don't Miss
View All
Top News
2 Indian-origin men among 6 arrested in Canada's biggest-ever heist; Here is how $22.5 million were robbed from Toronto's main airport
Two persons of Indian origin--Parmpal Sidhu, 54, and Amit Ja...
Lok Sabha elections 2024: Voting begins for 102 seats in Phase 1
Polling for assembly elections in the north-eastern states o...
Central Consumer Protection Authority asks FSSAI to probe claim of Nestle adding sugar to baby products
The National Commission for Protection of Child Rights (NCPC...
