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KYC rules to change: Uniform KYC for all — opening bank account to buying insurance to investing in stocks, mutual funds

By Economic Times - 9 months ago
In its recent meetings, FSDC, chaired by Finance Minister Nirmala Sitharaman, proposed to bring uniform KYC to verify customers, ease inter-usability of KYC records across the financial sector, and simplify the digitalisation of the KYC process. What is uniform KYC? How will uniform KYC ease the process of onboarding? What is going to change for customers? ET Wealth Online explains.

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