News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Circulars »
 Reserve Bank of India imposes monetary penalty on Bank of Baroda and Indian Bank
 Supersession of the Board of Directors and Appointment of Administrator – Dewan Housing Finance Corporation Limited
 ACIT, Central Circle-32, New Delhi Vs. Countrywide Promotors Pvt. Ltd, M-11, Middle Circle, Connaught Circus, New Delhi
 RBI-Auction of Government of India Dated Securities November 18, 2019
 RBI-Liquidation of Aditya Birla Idea Payments Bank Limited
 RBI should be given full power to regulate co-op banks
  Technical Specifications for all participants of the Account Aggregator (AA) ecosystem
 Notification No. 82/2019-Customs Ministry Of Finance
 Withdrawal of exemptions granted to Housing Finance Institutions
 Auction of Government of India Dated Securities November 11, 2019
 Technical Specifications for all participants of the Account Aggregator (AA) ecosystem

Reserve Bank of India extends timeline for completion of KYC for PPIs
February, 27th 2019

The Reserve Bank had issued Master Direction on Issuance and Operation of Prepaid Payment Instruments (PPIs) on October 11, 2017 (amended as on December 29, 2017). As per these directions, PPI issuers are required to complete the Know Your Customer (KYC) process by February 28, 2019.

Based on requests received from various stakeholders to increase the above timeline on account of difficulties in undertaking Aadhaar e-KYC and time necessary to put in place alternative systems for completing the KYC process, it has been decided to allow PPI issuers additional time of six months for completion of the KYC process.

The relevant provision in the PPI Master Direction has been modified suitably.

Ajit Prasad
Assistant Adviser

Press Release: 2018-2019/2025

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions