RBI updates operating guidelines for Payments Banks regarding KYC

The RBI has issued an update to the Operating Guidelines for Payments Banks with regard to KYC requirements while onboarding customers of telecom companies, in the wake of the Airtel Payments Bank rerouting of subsidies by creating Payments Bank accounts for subscribers validating mobile phone numbers. The circular draws attention to Section 14 of the … Continue reading RBI updates operating guidelines for Payments Banks regarding KYC