Aadhaar-based eKYC return may boost MF growth
5 years, 2 months ago

Aadhaar-based eKYC return may boost MF growth

Live Mint  

A notification by the markets regulator sets out the procedure for mutual fund intermediaries to conduct Aadhaar-enabled eKYC. Thus, a KYC done for opening a bank account, which is regulated by the Reserve Bank of India, will not be valid for mutual fund investments. This option was not halted by the Aadhaar judgement, but it takes up more time and is costlier for mutual fund intermediaries than carrying out eKYC with Aadhaar and one-time password. The facility of carrying out eKYC using Aadhaar and OTP was introduced by the markets regulator in 2015 for mutual fund investments up to ₹50,000, following which mutual fund penetration surged.

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SEBI issues circular on Aadhaar e-KYC for investors
5 years, 2 months ago

SEBI issues circular on Aadhaar e-KYC for investors

India TV News  

Sebi on Tuesday issued a detailed circular regarding the process to be followed for Aadhaar-based electronic KYC exercise for domestic investors. Sebi-registered intermediaries and mutual fund distributors, who want to undertake Aadhaar authentication services through KUAs, should enter into an agreement with any one KUA. "Sebi-registered intermediaries for reasons such as online on-boarding of clients, customer convenience, increased efficiency and …

Is RBI nod for eKYC a step towards its total revival?
5 years, 7 months ago

Is RBI nod for eKYC a step towards its total revival?

Live Mint  

You will soon be able to open a bank account instantly, if you are willing to use the Aadhaar-based eKYC process. This will enable banks to open instant bank accounts using eKYC based on Aadhaar authentication through the OTP mode. What it means for you Banking customers: Before the Supreme Court judgment on Aadhaar in September 2018, banks were using …

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