KYC or ‘Know Your Customer’ – Understanding its Importance

KYC or ‘Know Your Customer’ – Understanding its Importance

Introduction  The purpose and implementation of complete KYC documentation was at its peak during the end of 2017. Banks, agents and even telecom companies put out alerts to their respective customers urging them to become fully KYC compliant. Many salaried individuals had to get this done to comply with RBI’s norms pertaining to KYC. WithRead more about KYC or ‘Know Your Customer’ – Understanding its Importance[…]

The Importance of Know Your Customer (KYC) in Personal Loans

The Importance of Know Your Customer (KYC) in Personal Loans

Introduction The hullabaloo that happened, a few weeks ago, with regards to PAN card linking to Aadhaar was evident of the interlinking of KYC documents. Many salaried individuals had to get this done to comply with RBI’s norms pertaining to KYC. With identity theft emerging as a serious concern in this age of digitization, KYCRead more about The Importance of Know Your Customer (KYC) in Personal Loans[…]

The Role of Know Your Customer (KYC) in Personal Loans

The Role of Know Your Customer (KYC) in Personal Loans

Introduction We are living in times when identity theft is a common scenario. We hear of instances of someone getting duped due to signature forgery or someone becoming a victim of phishing. Danger lurks everywhere, especially when it comes to financial dealings. Although Loan Singh is a secured digital lending platform, we have to maintainRead more about The Role of Know Your Customer (KYC) in Personal Loans[…]

CKYC (Central Know Your Customer) explained and differentiated

CKYC (Central Know Your Customer) explained and differentiated

As per the guidelines laid out by Securities and Exchange Board in India, new investors who invest in Mutual Funds will have to do CKYC (Central Know Your Customer). CKYC replaced the existing KYC for new mutual funds’ investments from February 1, 2017. What is CYKC? An initiative which requires investors to complete their KYCRead more about CKYC (Central Know Your Customer) explained and differentiated[…]

Time To Know Your KYC (Know Your Customer) Documents

Time To Know Your KYC (Know Your Customer) Documents

  KYC aka Know Your Customer was part of Reserve Bank of India’s guidelines to set up a process by which banks could obtain customer’s information on their identity and residential information. This helps banks confirm that the applicant/customer is genuine. The documents for KYC are submitted by the customer and maintained by the collectingRead more about Time To Know Your KYC (Know Your Customer) Documents[…]