RBI simplifies KYC norms; here’s how video-based customer identification process becomes easier
V-CIP is an alternate method of customer identification with facial recognition and customer due diligence by an authorised official of the regulated entity by undertaking seamless, secure, live, informed-consent based audio-visual interaction with the customer to obtain identification information. Among others, RBI regulated entities (REs), include banks, NBFCs, and payment system operators.
May 11, 2021, 22:31 PM IST