NPR not mandatory for KYC process: RBI
By MYBRANDBOOK
The Reserve Bank of India has clarified that National Population Register (NPR) letter is not mandatory for the Know Your Customer (KYC) process.
“As per RBI’s directives, not only the letter issued by the National Population Register, even other documents like passport, driving licence, Aadhaar number, voter identity card and NREGA job card are also officially valid documents (OVDs) for the KYC purpose,” said a TOI report quoting the central bank’s response.
It further added that submission of the NPR letter is not mandatory.
According to bankers, NPR letter has been considered as one of the valid documents for KYC since 2017.
Recently, the central bank in a Telugu daily advertisement asked customers to submit KYC details before January 31, 2020. The list of KYC documents that it sought included the NPR letter. It further warned bank customers of not being able to transfer money in case of failure.
This advertisement created unrest among the people, many of whom took to Twitter to question the move.
The NPR letter fuss comes at a time when there are protests going on against the Citizenship (Amendment) Act (CAA) and the proposed National Register of Indian Citizens (NRIC).
The enrolment for NPR will be done along with the houselisting phase of Census 2021 during April to September 2020 in all the States and Union Territories, except Assam.
InterGlobe’s Rahul Bhatia and C.P. Gurnani together announce
In a move that is set to transform the AI landscape, Rahul Bhatia, Group M...
Download masked Aadhaar to improve privacy
Download a masked Aadhaar from UIDAI to improve privacy. Select masking w...
Sterlite Technologies' Rs 145 crore claim against BSNL rejecte
An arbitrator has rejected broadband technology company Sterlite Technolog...
ID-REDACT® ensures full compliance with the DPDP Act for Indi
Data Safeguard India Pvt Ltd, a wholly-owned subsidiary of Data Safeguard ...
MICROMAX INFORMATICS LTD.
FRESHWORKS TECHNOLOGIES PVT. LTD.
RELIANCE JIO INFOCOMM LTD.
SECLORE TECHNOLOGY PVT. LTD.
Technology Icons Of India 2023: Ajit Balakrishnan
The Company markets specific channels, community features, local langu...
Technology Icons Of India 2023: C P Gurnani
CP Gurnani (popularly known as ‘CP’ within his peer group), is the...
Technology Icons Of India 2023: Rajendra Singh Pawar
Rajendra Singh Pawar is an entrepreneur and businessperson who founded...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
HPCL is transforming the energy landscape, across the nation and beyond
HPCL is world-class energy company known for caring and delighting the...
CERT-IN protecting the cyber security space of India
CERT-In serves in the area of cyber security threats like hacking and ...
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...
REDINGTON INDIA LIMITED
Redington (India) Limited operates in the IT product distribution busi...