Tuesday, April 23, 2024
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Fintech Convergence Council

Establishing this could streamline regulatory oversight and foster a self-regulatory mechanism within the fintech sector, addressing compliance and accountability issues plaguing the industry

According to the council, the amendments bring several changes to the KYC process for REs (Regulated Entities), including the revision of the threshold of 'beneficial ownership' for registered 'company' and 'trust' to 10 per cent from the earlier 25 per cent...