'Low KYC' norm to help mobile wallets retain their customers

An estimated over 200 million mobile wallets ran the risk of being cancelled by the regulators, once the deadline to upgrade their non-compliant accounts to ‘full KYC’ accounts expires on February 29. These are mostly the accounts whose KYC authentications through Aadhaar were ruled invalid by the Supreme Court by its landmark 2018 verdict.

from Banking/Finance-Industry-Economic Times https://ift.tt/37ZJ18V