Aadhaar - Regulation Asia

RBI Allows Regulated Entities to Use Video-based KYC

Financial services firms can record video and capture photos of customers presenting their identity document for verification. Electronically-submitted and digitally-signed documents can also be accepted.

January 10, 2020

351

Fintech / Regtech

India’s NPCI Unveils DLT Based Platform to Further Streamline Payments

The Vajra Platform will enhance data security and transparency, facilitate real-time transactions and reduce reconciliation challenges and processing errors, the NPCI said.

January 7, 2020

314

AML / KYC

India Shows How Policy Can Solve Financial Inclusion: BIS Paper

The paper highlights India's Aadhaar programme, which promotes financial inclusion, offers more robust AML/CFT checks, and has led to the creation of several innovative and interoperable digital platforms.

December 19, 2019

280

AML / KYC

SEBI Allows Intermediaries, Funds to Use Aadhaar for e-KYC

Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.

November 8, 2019

479

AML / KYC

RBI Grants Another Extension for e-Wallet KYC Compliance

This is the fourth time the deadline has been extended. Wallet companies were first asked to complete KYC processes for each customer by December 2017.

September 3, 2019

548

AML / KYC

India Withdraws FPI Tax Surcharge Amid Foreign Pressure

The surcharge, introduced last month, increased capital gains tax on foreign trusts investing in India to over 40%, prompting the stock market’s worst July in 17 years.

August 26, 2019

870

Feature

India Enables Consent-Based Financial Data Sharing

Four years of collaboration between India's major financial regulators has resulted in a new platform that enables financial services providers to share data with other institutions based explicitly on user consent.

July 26, 2019

555

AML / KYC

SET Unveils Gateway to Access National Digital ID Platform

The new gateway will reduce the setup costs required to access the NDID and enable financial firms to enable full digitisation of customer onboarding more quickly.

July 22, 2019