KYC UPDATES
NRIs can now complete online KYC from the US, UK, UAE and other FATF-compliant countries
For Indian investors residing overseas, a new development brings good news. A recent circular from Sebi allows them to open investment accounts without needing to return to India. By permitting digital KYC submissions from various compliant countries, this initiative simplifies the process for non-resident Indians (NRIs) and overseas citizens of India (OCIs).
Offline Aadhaar verification to get easier for users as UIDAI onboards 300 entities to complete process
UIDAI has successfully onboarded 300 Offline Verification Seeking Entities since the launch in January 2026. This initiative aims to enhance Aadhaar-based offline verification across various sectors including healthcare, education, and hospitality. Users can now complete identity checks without submitting physical copies of their Aadhaar cards.
Tax reporting lapses could risk India's sovereign rating, trigger withholding tax penalties: Income Tax Principal DG Debjyoti Das
Speaking to the media on the sidelines of the 'Summit on Global Financial Compliance (FATCA & CRS)' in Mumbai, Debjyoti Das, Principal Director General of Income Tax (Intelligence & Criminal Investigation), highlighted the growing risks associated with non-compliance in cross-border financial reporting.
OCI passport update: India removes $25 late fee for applications submitted by December 31
In a significant move to aid Overseas Citizens of India (OCI) cardholders, the Government of India has implemented a temporary two-month waiver of late fees for those updating their passport details.
Sebi eases KYC norms for NRIs, OCIs, allows digital onboarding from December 3
SEBI has relaxed KYC requirements for NRIs, OCIs and foreign nationals, allowing eligible overseas clients in FATF-compliant countries to complete onboarding digitally. The revised framework introduces video verification, electronic documents and simplified repeat KYC, effective December 3, 2026.
NEET panel proposes shift to rank-based merit: Govt to SC
An expert committee has recommended a shift to a rank-based system for NEET-PG admissions beginning in 2027. This proposal aims to replace the existing percentile-based qualifying criteria, with support from the National Medical Commission. The committee highlighted the necessity to reduce fees for non-clinical PG courses and exempt certain candidates from service bonds.
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Should my OCI son continue his Indian health insurance policy or take a new one?
ET Wealth Reader's Query: My son recently became an Overseas Citizen of India (OCI). Earlier, he had insurance coverage in India. Should he continue that or take a new one in India?
PNB set to close these accounts soon: Bank says complete KYC by November 10 to avoid account closure
Punjab National Bank has issued a notice to its customers regarding the closure of dormant accounts. Any account with no transaction activity for over three years and a zero balance is at risk. To prevent account closure, customers need to complete their Know Your Customer requirements by November 10, 2026.
A7 International: Global payments from crypto wallet to local fiat
Transactions across borders have always been a challenge, plagued by slow bank transfers, endless paperwork, and hidden fees. A7 International changes that by bridging the gap between crypto and traditional banking.
SBI data leak: Is your bank account safe? What was breached and should you worry?
SBI bank data breach: Country's largest bank, SBI, is investigating a suspected data leak involving nearly 4,000 customer records identified on the dark web. Here is what information was exposed, whether your bank account is safe and the precautions customers should take.
Personal AI agents can now act. How much should we let them do?
As AI agents move beyond answering questions to handling everyday tasks such as payments, bookings and managing subscriptions, users must learn to balance convenience with control.
NPS Central launched: Subscribers can now access CRA, pension fund and PoP services at single perform
The Pension Fund Regulatory and Development Authority has rolled out NPS Central, a transformative digital platform designed for hassle-free management of National Pension System accounts.
DoT mandates telecom operators to display KYC-registered names for incoming calls starting November 1
The Department of Telecommunications mandates telecom operators to show KYC-registered names with incoming calls from November 1. This initiative aims to reduce cyber fraud, phishing, and unwanted commercial calls. The amendment to Caller Line Identification will officially include Caller Name Identification for subscriber convenience. Trials and consultations informed the decision, involving both operators and civil society groups.
WhatsApp scam alert: How replying ‘No’ to fake bank debit message can empty your bank account
Hyderabad reported incidents of WhatsApp message fraud causing victims to lose significant amounts of money. A chartered accountant lost lakhs after responding to a fraudulent message regarding a bank transaction. Similarly, two retired principals lost Rs 64 lakh due to scams in which one of them was misled into updating their KYC information. Authorities advise against responding to such messages and recommend contacting official channels.
NRI investing in India? Wrong KYC documents can delay your investment; know what you need
Navigating the KYC process for NRIs investing in India can be complex, requiring specific documents and verification steps. From ensuring document accuracy to understanding attestation requirements, several factors can impact the smooth completion of KYC. Explore the essential documentation and common pitfalls faced by NRIs in their investment journey.
These mid-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of over 25%, according to analysts
In the short term, be ready for volatility, and do not mistake the passing of one big event for an all-clear. In the long term, give up trying to guess when the storm will end. That is not something anyone can do.
How to choose a trading app in India: Features, costs and trading tools
When selecting a trading app, it's crucial to examine the features that best suit your trading style. Consider aspects such as brokerage fees, available order types, and trading tools. Additionally, ensure the app provides up-to-date market information and favorable margin trading rates. Assessing customer support and the app's security measures is vital. Ultimately, the chosen app should effectively support both present and future trading ambitions.
Moving from UAE to India? 6-step financial homecoming guidebook to manage tax residency, bank accounts, Dubai property, and gratuity
Tax residency, bank accounts, Dubai property and gratuity all need sorting before and after you fly home.
Where to find pre-approved used car loans online without hidden fees
Streamlined used-car platforms are revolutionizing the buying experience by presenting pre-approved loan options with transparent charges. Unlike traditional banks that may provide attractive rates, they often require lengthy paperwork. It’s essential for buyers to evaluate interest rates and associated costs prior to financing. Financing eligibility is determined by credit scores, income verification, and current debt levels. Services like Cars24 simplify vehicle purchases by incorporating financing directly into the process.
Central database may be used for financial oversight, risk monitoring
India's government plans to expand Cersai's database for better financial risk monitoring. This initiative aligns with the phased rollout of the Central KYC Records Registry, CKYCRR 2.0. The expanded Cersai database will offer customer insights and aid in fraud prevention efforts. Financial institutions will use these insights to develop more targeted products for customers. These improvements aim to strengthen oversight and streamline KYC processes across the sector.
EPFO launches WhatsApp channel for PF updates: How to join official channel and what information you can get
The Employees Provident Fund Organisation has introduced a dedicated WhatsApp channel for its members. This innovative service delivers crucial updates and pertinent information straight to users' devices. Members can explore educational resources on different EPF topics via this channel.
EPFO told to pay 6% interest on Rs 14 lakh PF claim after 35-day delay: What consumer commission said
The Mumbai consumer commission ruled against the EPFO, citing service deficiency linked to inadequate communication regarding a joint declaration application. Consequently, the commission mandated EPFO to pay six percent interest on the delayed EPF claim, which was filed by the complainant back in October 2016. EPFO has been instructed to fulfill this directive within a strict timeframe of forty-five days.
EPFO: Check EPF balance; download passbook, activate UAN & more; 5 EPF services available on Umang app
The EPFO has now made it possible for users to generate and activate their UAN directly via the UMANG app. This innovative approach incorporates Aadhaar-based facial recognition, streamlining access to essential EPFO services. After activating their UAN, employees can easily check their EPF balance and download passbooks.
Will I inherit my family’s land in India if I become an NRI?
ET Wealth Reader's Query: I would like to understand what happens to my rights over inherited agricultural land in India if I acquire foreign citizenship. Will I still be able to inherit my family’s agricultural land, and are there any restrictions on holding, transferring, or disposing of such property after becoming a foreign citizen?
Abhishek Banerjee's bank account reactivated following KYC update, Calcutta HC disposes of TMC MP's plea
The Calcutta High Court disposed of Abhishek Banerjee's petition regarding his frozen bank accounts. His accounts and cards were reactivated after submitting required KYC documents to the bank. The court noted that banks should provide notice before blocking customer accounts. The bank stated that Banerjee's account was blocked due to high-risk factors and third-party data. Banerjee's lawyer argued that partial freezing requires repeated reminders and phased action.
Periodic KYC update in bank account to become easier; RBI proposes new draft rules, allows time till June 30, 2026, to do KYC for these customers
KYC updation rules eased: The RBI has issued a draft comment on simplifying KYC rules. The proposed rules will make the bank customers' lives easier in case of periodic KYC updation requirements. The rules also propose the ease of onboarding first-time customers in the case of KYC. Read on to know the proposed rules.
Re-KYC update of bank account: How to update KYC of bank account online in HDFC Bank, SBI, Canara Bank, ICICI Bank
How to update KYC details: Re-KYC is a procedure that allows banks and other financial organisations to stay up to date on a customer's most recent contact data and personal details. Here is how you can update your KYC details online for these top banks.
KYC-update frauds get RBI attention: Know how scams happen, how to protect yourself
KYC Updation Fraud: The Reserve Bank of India (RBI) has cautioned individuals about KYC updation frauds which has been ongoing lately. An individual is required to periodically update their KYC with their banks as per specified timelines. However cybercriminals are targeting gullible individuals in the name of KYC updation and hence if an individual is not cautious it can lead to financial loss.
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