RBI amends KYC norms, introduces video-based identification process

RBI amends KYC norms, introduces video-based identification process: The RBI has amended the KYC norms which will allow banks and other lending institutions regulated by it to use Video based Customer Identification Process (V-CIP). The move will help the institutions to onboard customers remotely. The V-CIP will be consent-based and will make it easier for banks and other regulated entities to adhere to the RBI’s Know Your Customer (KYC) norms by leveraging the digital technology.

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

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