RBI allows video based KYC to establish customer’s identity
Updated: January 10, 2020 05:24 PM IST
The Reserve Bank of India has decided to permit video-based KYC (Know Your Customer) as an option to establish a customer’s identity. For banks, non-banking financial companies, wallet service providers and other financial entities regulated by the central bank, this is expected to come as a huge relief as remote customer authentication, as opposed to physically onboarding customers, will help to save costs.
