The initial deadline was 28 February 2018. As such, players like Amazon Pay, Mobikwik, and other e-wallet companies said that the extension of deadline for KYC norms will ensure that customers are not impacted adversely. The move would have an impact on Indias financial inclusion story.
The RBI had received requests from various stakeholders to increase the timeline given the difficulties in undertaking Aadhaar e-KYC, as well as the time to put in place alternative systems for completing the KYC process.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.