Daily Archives: January 6, 2023

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Account holders need not visit bank to update KYC, says RBI

DepositsBy Surendra Naik January 6, 2023

Bank account holders are no longer required to visit their bank branches to update ‘know your customer’ (KYC) details provided they have already submitted valid documents and have not changed their address. The process for the periodic updation of KYC (re-KYC) under the prevention of Money Laundering Act, 2002 (PMLA) and rules framed thereunder was…

After delay in filing of registration of the charge: Condonation route

Legal and Regulatory aspects of banking, Loans and advancesBy Surendra Naik January 6, 2023

Condonation of delay by Registrar of Companies: If a company is unable to file the registration of charge within a period of thirty days of the date of creation of the charge/modification of charge, it may prepare an application in the form CHG-10 supported by a declaration from the company signed by the company secretary…