Linking all accounts is a difficult and costly task for brokers
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
Absence of comprehensive data protection and privacy laws will be barriers in the government's digitalisation drive.
UPI transactions are growing faster, but wallets remain relevant for those without a bank account and seeking cashbacks.
It is suggested that you get your SIM locked with which the wallet account is mapped.
Reserve Bank of India will soon review the progress made by banks in implementing "Know Your Customer" guidelines at branch level to strengthen the mechanism to keep a check on money laundering activities.
The difference between Cibil and other marketplaces is that in the case of the latter the credit report is accessed after the customer clicks the loan offer, while in the case of Cibil the customer first checks the credit score and then applies for the loan.
Aadhaar will provide a big platform to fight corruption, said UIDAI Chairman Nandan Nilekani, who is expected to contest forthcoming Lok Sabha elections on Congress ticket.
Laxity in enforcing KYC and allied norms suspected; money laundering gaps also on probe panel's mind
You will need to do the KYC check again
The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
Indian economy was growing faster than the global average and all other major economies: FM
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Now you can check your Aadhaar authentication history online to track if anyone misused your unique identity.
While payments banks surely lose money, their operating ratios were looking better in 2017-18 compared to the year before. This implies that as customer volumes start picking up, the business models may perk up too, says R Jagannathan.
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
Claiming innocence, former head of the National Spot Exchange Limited (NSEL) Anjani Sinha, held in the Rs 5,600 crore (Rs 56 billion) payment crisis, on said that he was acting under the board's pressure, sources said.
Irdai's push will make insurance cheaper for consumers and enable a consolidated view of all policies.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
Fully know your customer-complaint Jan Dhan account holders will be allowed to withdraw Rs 10,000 per month from their account, while limited or Non KYC compliant account holders can withdraw Rs 5,000 per month.
The CBDT has begun the process of matching the deposits in accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), or Jan-Dhan accounts, with the profile of the depositors.
According to a legal expert, the clause of 'reasonable restriction' could still mean the government can make Aadhaar mandatory for monetary transactions and therefore, for banking.
'Secrecy allowed in the electoral bonds scheme legalises anonymity'
Life insurance companies assert that the blockchain being created has strict protocols to leave no room for manipulation and exploitation, or unauthorised use of customer data and personal information.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
2017 saw the highest-ever mobilisation by way of IPOs of close to Rs 700 billion. The momentum is expected to continue this year as well.
At the time of filling the KYC (Know Your Customer) documents (when joining), do not sign wherever you are asked to. In particular, look closely at the power of attorney (PoA) section, experts tell Sanjay Kumar Singh
The amended bill also provides for a stiff Rs 1 crore penalty and a jail term for private entities for storing Aadhaar data.
Third parties can be used to launder the proceeds of fraud schemes by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
Don't share information over phone with anyone. Use only official apps. Keep Aadhaar locked unless needed.
'Please don't forget there's still one final piece to fall in place, which is the Supreme Court judgment. Once that happens, it will be ready for being passed.'
Insurance policy document will become digital and paperless like shares in the coming year and the policyholders would be saved from preserving the physical copies of their insurance policies.
The first private sector MF, Kothari Pioneer was registered in July 1993.
Based on the holding period, the profit you make is liable to short-term or long-term capital gains tax, experts tell Tinesh Bhasin.
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
In an online chat with readers, Investment Advisor Harsh Roongta answered their queries on the ban on Rs 500 and Rs 1000 notes.
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