“The Reserve Bank of India’s recent amendments to KYC guidelines aim to streamline the verification process, making it easier and more secure for consumers. By updating these standards, RBI is enhancing the efficiency of onboarding and verification, which means consumers can expect faster access to banking services and reduced paperwork. Ultimately, this move will make financial transactions more accessible and reliable, benefiting both consumers and financial institutions alike with immediate, user-centric improvements,” said Sandeep Sethi, V-P of Sales- India & South Asia, Wibmo, (a PayU company). Key Amendments: Simplified Process for Existing Customers, Periodic KYC Updates, Central KYC Records Registry (CKYCR) Integration, Change in UAPA Officer Designation. […]