Customers won’t lose money if KYC not done
GN Bureau | February 27, 2018
If you are a Paytm or Mobikwik or a customer of any prepaid wallet, then you now have barely a day left to get your account linked to Aadhaar.
With the Reserve Bank of India making it clear that it won’t be extending the February 28 deadline for mandatory KYC-compliance by prepaid wallet customers, people will now have to rush to get the linkage carried out. Otherwise, they would not be able to use it.
“Sufficient time has already been given to meet the prescribed guidelines. In the event PPI issuers not obtaining the KYC-related inputs within the timeline from their customers, customers will not lose their money,” The Hindu quoted deputy governor BP Kanungo as saying.
There are 55 non-banking PPIs operational now, apart from 50 wallets promoted by banks. Initially, they were given time till December 31, 2017, to make accounts KYC- compliant. The deadline was then extended to February 28.
Financial Express reported that most of the wallets in India, were asking their users to complete minimum KYC obligations. This could have been done by verifying their mobile numbers. However, it has certain restrictions. Full KYC basically requires you to link your PPI account with your Aadhaar. This can be done using your mobile number or by visiting the KYC centre.
India is focusing on relentless testing, as part of its strategy of ‘Test, Track and Treat’, as the number of Covid-19 tests conducted in a day has risen to cross 8 lakh a day. In the 24 hours to Thursday evening, a record high of 8,30,391 tests were conducted in the country, as
Prime minister Narendra Modi on Thursday launched a platform for “Transparent Taxation - Honouring the Honest” through video conferencing. Addressing trade and industry bodies over video conferencing, Modi said the process of structural reforms in the country’s economy has
Very few of the 200-plus private news channels gave credit to Doordarshan for the live footage of the historic Bhumi Pujan ceremony at Ayodhya on August 5, says Shashi Shekhar Vempati, CEO, Prasar Bharati. This can impact the revenues but that is not what the public telecaster is aiming at.
More than 3.04 crore masks of N95 variety and more than 1.28 crore personal protection equipment (PPE) kits have been distributed by the centre to states and union territories (UTs) as part of their joint fight against the Covid-19 pandemic. Since 11th March 2020, more than 10.83 crore HCQ t
India has been registering more new cases of Covid-19 infection than any other country for the past seven days, yet its rigorous push on testing and thus on early identification is bearing fruits, with the case fatality rate (CFR) going further down to 2.1. In a new high, India has scaled th
Recognising the importance of election manifestos, the supreme court directed the election commission (EC) of India to frame guidelines directly governing the contents of the election manifestos in the case of S. Subramaniam Balaji v. State of Tamil Nadu & Ors. reported in (2013) 9 SCC 659. Although th