The original deadline, which expired on December 16, had raised concerns among banks and fintech companies, who cited insufficient time for implementation. The extension comes after multiple requests from these institutions seeking more time to comply with the updated KYC requirements.
"In view of requests received from various reporting entities, it has been decided to defer the date of go live for masking of KYC Identifier from December 16, 2024, after 8:00 pm to January 20, 2025, after 8:00 pm," said the Central KYC Records Registry in a circular.
This story is from the December 18, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 18, 2024 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Shriram Group arm raises $1.28-bn loan
SHRIRAM FINANCE (SFL), the flagship company of the Shriram Group, raised $1.277 billion in multiple currencies, including dollar, euro and dirham (AED), through an external commercial borrowing (ECB) loan transaction.
Rupee moves closer to 85/$
ON A SLIPPERY TRACK
Offshore instruments rule adds to compliance burden for FPIs: Experts
Negligible trades with derivatives as underlying assets in last three years
Good Capital targets AI-driven funding in 2025
GOOD CAPITAL, an early-stage venture capital (VC) firm, plans to make 6-7 investments in 2025, focusing on startups that integrate artificial intelligence (AI) into existing business models, especially in tier 2 and 3 cities.
Chinese auto parts imports see flat growth in H1FY25
IMPORTS OF CHINESE auto components, which used to be quite high till a few years ago, are now seeing their growth rate plateauing.
New chapter: LEAD Group eyes premium schools
WESTBRIDGE CAPITAL-BACKED edtech unicorn LEAD Group has unveiled Pinnacle, a digital curriculum solution targeting high-fee schools, marking its shift from affordable institutions.
Country Delight starts 10-15 minute delivery
DIRECT-TO-CONSUMER dairy and daily essentials brand Country Delight has become the latest entrant to the 10-15 minute delivery space.
Welspun arm looks to raise ₹4,000 cr
WELSPUN ONE, THE logistics and industrial property arm of Welspun group, plans to raise ₹4,000 crore to fund its expansion.
Infosys inaugurates ₹426-cr development centre in Bengal
INFOSYS, THE COUNTRY'S second-largest IT services firm, on Wednesday inaugurated a state-of-the-art development centre in New Town, Kolkata, marking a major milestone in West Bengal's IT growth story.
Subsea cables: Big Tech may get govt support
Focus now on establishing repair & maintenance infra
