[ad_1] Bank accounts being suddenly frozen due to KYC issues is a growing crisis across India, leaving millions locked out of their savings. While customers blame banks and banks blame regulations, the real issue runs much deeper. Banks are bound by regulations, including the Prevention of Money Laundering Act (PMLA), which requires them to track…
[ad_1] As digital banking evolves in India, the primary threat to consumer security lies not in the domain names of websites, but in the proliferation of fraudulent apps and inadequacy of protections. A change in domain name, in isolation, will do little to combat the growing menace of digital fraud. Also Read: Proving youāre human…
[ad_1] Complying with Indiaās thicket of rules can be stressful. While ChatGPT might save us from the vague verbosity of government documents, untangling the countryās complex rules and regulations could defeat several iterations of AI. [ad_2] Source link
[ad_1] The recently announced budget introduced significant personal finance changes impacting taxpayers and investors. One of the key updates involvedĀ Unit Linked Insurance Plans (ULIPs). It has been clarified by the Finance Ministry that if the annual premium exceeds ā¹2.5 lakhs the redemption becomes subject to capital gains tax. ULIPs that are held for more than…
[ad_1] As a part of its initiatives to promote self-regulation among e-commerce platforms, the government released draft guidelines on Tuesday aimed at protecting consumers from potential fraud in the fast-growing digital shopping industry. Stakeholders have been invited to submit their comments on the proposal by 15 February. The guidelines, titled āE-commerce Principles and Guidelines for…
[ad_1] The market regulator tightened rules for independent advisers and research analysts by imposing deposit requirements and restrictions on the scope of advice to enhance transparency and protect investors. The new guidelinesāfollowing the amendment notified on 16 Decemberāaim to reinforce compliance and ensure better segregation of services between independent advisers (IAs) and research analysts (RAs),…
[ad_1] More recently, as public and private banks accelerated their growth trajectory, this methodology of social reputation certification was no longer feasible.Ā Additionally, with the advances in digital public infrastructure (mobile internet, Aadhaar, UPI, etc) and programs such as Jan Dhan Yojana, India undertook the massive exercise of getting a bank account for all eligible…
[ad_1] Sebi first released rules for RAs in 2014. The idea was to create a framework through which individuals and entities could provide research and advisory services to the masses. As internet connectivity improved, many began to offer these services online. Now, Sebi has said that anyone who earns money ā directly or indirectly ā…
[ad_1] You submit documents not just once but repeatedly over time. Failure to do so can result in your accounts being frozen, blocking further transactions. This rigorous process is part of anti-money laundering guidelines ensuring institutions have up-to-date customer information. The KYC paradox However, while institutions verify your credentials, you seldom scrutinize the qualifications of…
