RBI fines Hero Fincorp Rs 10 lakh, Ola Financial Rs 3.10 lakh
The Reserve Bank of India has imposed a monetary penalty of Rs 10 lakh on Hero Fincorp for collecting excess interest from certain loan accounts, and a separate penalty of Rs 3.10…
All posts tagged in KYC
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SEBI proposes digital KYC for NRIs, removes physical presence need
The Securities and Exchange Board of India (SEBI) has proposed a fully digital KYC and onboarding process for retail NRI investors, removing the requirement for physical presence in India. Livemint.com reports the…
RBI fines five entities for compliance lapses
The Reserve Bank of India has imposed monetary penalties on five financial entities for non-compliance with its directions. On August 19, 2026, the RBI fined Progfin Private Limited Rs 2.70 lakh for…
SEBI lets FPIs use digital signatures for Power of Attorney
The Securities and Exchange Board of India (SEBI) has allowed foreign portfolio investors (FPIs) to submit a digitally signed Power of Attorney (PoA) to their custodians, eliminating the need for notarisation, apostillisation…
Calcutta HC questions HDFC Bank over freeze on Abhishek Banerjee account
The Calcutta High Court on Thursday heard a petition by Trinamool Congress MP Abhishek Banerjee challenging the freezing of his personal bank account and the blocking of his debit and credit cards…
PNB to close zero-balance accounts inactive for 3 years
Punjab National Bank (PNB) has warned customers that it will close bank accounts that have been inactive for three years with zero balance, starting 13 September 2026. The bank issued the alert…
Check if your unused bank account has turned inactive
The Reserve Bank of India (RBI) classifies savings and current accounts as inoperative if no customer-initiated transaction occurs for more than two years. Funds in such accounts do not become the bank's…
SEBI proposes digital KYC for NRIs and OCIs abroad
SEBI has proposed allowing eligible Non-Resident Indians, Overseas Citizens of India and foreign nationals in FATF-compliant countries to complete KYC digitally from overseas for investments in India’s securities market. They would not…
Naga man’s eyes forced open as KYC scan fails
Nagaland minister Temjen Imna Along shared a video on X showing a Naga man's eyes being forced open during a failed iris scan for KYC. The clip, captioned 'Struggle is real', shows…
SEBI tightens KYC rules; nominees must be linked directly
Market regulator SEBI has amended KYC rules for stock brokers and depositories, making it mandatory to link nominee details directly to the client’s registration record. The move follows changes to the SEBI…
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