Adopt risk-based approach for periodic updation of KYC: RBI asks banks The Reserve Bank on Tuesday tightened the customer due diligence (CDD) norms by asking banks and regulated entities to adopt a risk-based approach for periodic updation of KYC. After a review, the central bank has made amendments to the Master Direction (MD) on Know Your Customer (KYC). Regulated Entities ...

IRM Energy collects Rs 160 crore from anchor investors ahead of IPO City gas distribution company IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors ahead of its initial share sale that opens for subscription on Wednesday. The company has decided to allot 31.75 lakh equity shares to 12 funds at Rs 505 ...

DFS secretary Vivek Joshi chairs meet with private insurance companies The insurance companies were asked to encourage adoption of property/parametric covers to mitigate financial losses due to natural catastrophes

BoB World app scam could be tip of iceberg, RBI should appoint IT auditors in banks: Forum [ad_1] The RBI governor, Shaktikanta Das, has been urged by a civil society platform to implement an information security (IS) audit mechanism for banks that have mobile banking apps, and asked banks detect any malpractices, such as substitution of biometric details of customers ...

RBI fines ICICI Bank, Kotak Mahindra Bank for defaulting in fraud reporting, loan recovery rules [ad_1] The Reserve Bank of India has imposed monetary penalties on Kotak Mahindra Bank and ICICI Bank due to deficiencies in regulatory compliance, according to two separate RBI press releases issued on October 17, 2023. Why RBI fined Kotak Mahindra Bank The RBI has imposed ...

Mutual fund SIP account addition reaches record 3.7 million in September [ad_1] ET Intelligence group: The gross account registration in the systematic investment plan (SIP) category of mutual funds reached a record 3.7 million in September 2023, the data from AMFI shows. The new account opening remained above three million for the third month in a row despite higher volatility ...

Rupee to rely on RBI's intervention amid surging oil prices: Traders Non-deliverable forwards (NDFs) indicate rupee will open at around 83.25-83.26 to the U.S. dollar, barely changed from the previous session

Attention SBI customers: State Bank of India on why you are facing UPI snags [ad_1] If you are a State Bank of India (SBI) customer and are facing some technical issues while using UPI for your transactions, SBI has stated the reason. SBI UPI services are facing intermittent fluctuations due to technology upgradation activities, stated the PSU lender on social ...

Crypto firms welcome adoption of IMF-FSB's roadmap on crypto assets Investments in resources, technology, and personnel would be necessary to ensure compliance

Banks assess carbon risk of loan book amid investor, RBI push: Reports The South Asian nation is the world’s third-highest greenhouse gas polluter and has set a goal of reaching net zero emissions by 2070