The government and regulatory bodies, including RBI, SEBI, and NPCI, have introduced frameworks such ... The need for licensing, adherence to data privacy laws, and evolving KYC/AML requirements pose ...

RBI imposed a monetary penalty of ₹75 lakh on HDFC Bank over non-compliance with KYC norms. The RBI had also conducted a statutory ‘Inspection for Supervisory Evaluation’ of the bank ...

The Reserve Bank of India found HDFC Bank violated Know Your Customer (KYC) norms as laid down by RBI's Master Direction - Know Your Customer (KYC) Direction, 2016. The RBI's inspection found HDFC ...

(Image/PTI) The RBI governor insisted that the banking sector ... banking customers repeatedly complain of inconvenience due to KYC re-submission requests, especially on social media platforms.

Upon reviewing HDFC Bank’s response and additional submissions, RBI identified two critical areas of non-compliance: Risk categorisation failure: The bank failed to categorise certain customers ...

KYC (Know Your Customer) compliance is a required process set by the Reserve Bank of India (RBI) to prevent fraud, money laundering, and unauthorized transactions. Banks regularly update customer ...

Reserve Bank of India Governor Sanjay Malhotra on Monday urged banks to stop repeatedly calling customers for know-your-customer documents, calling the practice an “avoidable inconvenience ...

RBI has given loan borrowers reason to cheer with two back-to-back repo rate cuts in this calendar year. This is likely to translate into lower EMIs in the coming months. We explain the math: The ...

Sanjay Malhotra, RBI Governor has asked banks to enhance their internal grievance redressal mechanisms and prioritise customer satisfaction, in response to the rising grievances. • Fast classification ...

IMAGE: RBI Governor Sanjay Malhotra ... According to Malhotra, some of the major areas requiring improvement include know-your-customer (KYC) norms, digital frauds, mis-selling, and aggressive ...

PM Narendra Modi, in his platform X post on Sunday, March 16, appreciated RBI’s Digital Transformation Award 2025 win. (PMO) Indian Prime Minister Narendra Modi, in a social media platform X ...