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India to roll out common KYC for banks, insurers; mutual funds to follow, sources say

MUMBAI, July 24 (Reuters) – Indian banks and insurers will launch a common KYC (Know-Your-Customer) in August, with ‌asset managers joining later, two regulatory sources and industry executives said, allowing customers to access financial products without separately submitting identification documents. The new system, known as Central Know-Your-Customer 2.0 (CKYC), will only require the customer’s consent for these institutions to fetch data stored at a central registry when opening an account or updating their details. India ​has spent more than a decade trying to create a system similar to those in countries such as Singapore and ​several European nations, where digital

Rahul shows pellet gun injuries of protester to slam govt, says ‘stop assaulting our students’

New Delhi, Jul 24 (PTI) Dharmendra Pradhan is a “criminal education minister”, a symbol of the collapse of India’s education system and must be removed, Congress leader Rahul Gandhi demanded on Friday as he presented before the media a student protester who was allegedly shot with pellet gun by security personnel during the July 20 protests. Gandhi also demanded that there should be action against those who shot at and baton charged students, as well as Prime Minister Narendra Modi apologise to students. “You are saying that protesters have been hit by pellet guns. I want to explain when were

Rupee recovers 18 paise to settle at 96.55 against US dollar

Mumbai, Jul 24 (PTI) The rupee recovered 18 paise to close at 96.55 (provisional) against the US dollar on Friday amid likely intervention by the Reserve Bank of India (RBI). A combination of factors, including heightened tensions in West Asia, FII outflows, and sustained negative sentiments at the domestic equity markets, maintained pressure on the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened weaker at 96.81 and traded in the range of 96.30-96.81 before eventually settling at 96.55 (provisional), up 18 paise from its previous close. The rupee ended 20 paise weaker at 96.73

Stock markets extend losses for 5th straight day on US trade tariffs, West Asia tensions

Mumbai, Jul 24 (PTI) Market benchmark indices Sensex and Nifty ended lower on Friday, extending the losing streak for the fifth consecutive session, as investors remained cautious due to rising oil prices amid geopolitical tensions in West Asia and renewed concerns over US trade tariffs. Fresh foreign fund outflows and selling in blue-chip HDFC Bank also dented market sentiment. The 30-share BSE Sensex declined 331.62 points, or 0.43 per cent, to settle at 76,059.77. During the day, it tanked 916.96 points, or 1.20 per cent, to 75,474.43. The 50-share NSE Nifty dipped 102.15 points, or 0.43 per cent, to end

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