The RBI has provided directions for those operating AePS terminals. It stated that the bank responsible must carry out due diligence of all AePS touchpoint operators according to Master Direction – Know Your Customer (KYC) Direction, 2016. Largely, the directions call for conducting KYC throughAa...
RBI has also imposed ₹55 lakh penalty on Indian Bank for contravention of certain Know Your Customer (KYC) norms. RBI conducted scrutiny of the Indian Bank in July 2020 based on a high-value fraud reported by the bank. A penalty of Rs 10.50 lakh has been imposed on Muthoot Money Limit...
RBI/2022-23/92 DoR.AUT.REC.No.27/24.01.041/2022-23 RBI 2022 23 92 DoR AUT REC No 27 24 01 041 2022 23 April 21 2022 Master Direction Credit Card and Debit Card Issuance and Conduct Directions 2022 In exercise of