The department of revenue (DoR), ministry of finance has clarified that any purchase of gold, silver, jewellery, or precious gems and stones below Rs 2 lakh does not require permanent account number (PAN) or Aadhaar of a customer as mandatory Know Your Customer (KYC) document.

HDFC Bank launches video KYC

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HDFC Bank has enabled opening of savings account remotely by activating video KYC. The bank is also offering personal loans to new customers who can avail of the facility.

In a move that will enable banks and fintechs onboard customers remotely, RBI has amended its norms to allow the ‘know your customer’ (KYC) process to be completed through a mobile video conversation. The central bank has also facilitated eKYC and digital KYC by allowing use of Aadhaar or other e-documents in the customer due … Continue reading In a 1st, RBI allows KYC process on mobile video