If we were to highlight issues in the payments industry, Aadhaar-enabled payment systems (“AePS”) would certainly feature on that list. While Aadhaar has revolutionized identity verification and enabled financial inclusion en-masse, it has also led to several forms of financial
The Reserve Bank of India (“RBI”) vide its notification dated 12th June 2025 titled “Updation/ Periodic Updation of KYC – Revised Instructions”, has amended the Master Direction – Know Your Customer (KYC) Direction, 2016 (“KYC Direction”) to simplify the KYC
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