regulated entities

New KYC rules: Mandatory masking of key identity proofs in CKYC from Jan 20 to prevent fraud

by
New KYC rules: Mandatory masking of key identity proofs in CKYC from Jan 20 to prevent fraud

KYC fraud: In a bid to prevent Know Your Customer (KYC) data from fraud and misuse, the launch date for masking KYC identifiers in the Central KYC Records Registry (CKYCRR) has been extended to January 20, 2025. This effort, designed to enhance data security and curb potential misuse, will conceal sensitive KYC information such as Aadhaar, … Read more

RBI sets up advisory group to assist regulatory review authority

by
RBI sets up advisory group to assist regulatory review authority

The Reserve Bank on Friday said an advisory group has been constituted to assist the second Regulatory Review Authority (RRA 2.0) which was constituted by the central bank earlier this month to streamline regulations and reduce the compliance burden of regulated entities. Headed by SBI Managing Director S Janakiraman, the advisory group will assist the … Read more