Keeping in view the current COVID-19 related restrictions in various parts of the country, REs are advised that in respect of the customer accounts where periodic updation of KYC is due and pending as on date, no restrictions on operations of such account shall be imposed till December 31, 2021,
RBI introduces video-based identification process for KYC. RBI approves Aadhaar-based video authentication as alternative to e-KYC. Video KYC will have to be verified through Aadhaar.
RBI vide Notification dated 29th May 2019 made amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. An Ordinance, “Aadhaar and other Laws (amendment) Ordinance, 2019”, has been notified by the Government amending, inter alia, the Prevention of Money Laundering Act, 2002. Important changes carried out in the Master Direction in accordance with…