HomeStock MarketSecurities Depository CDSL Begins KYC Review Of Paytm Money

Securities Depository CDSL Begins KYC Review Of Paytm Money

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  1. Central Depository Services India (CDSL) has begun customer verification inspections of Paytm Money, the wealth management entity operated by One 97 Communications, in light of recent regulatory actions by the Reserve Bank of India (RBI).
  2. The scrutiny focuses on the know-your-customer (KYC) procedures implemented by various entities under One 97 Communications, including Paytm Money.
  3. This action comes after the RBI’s directive issued on January 31, prompting CDSL to intensify its examination of compliance measures within the Paytm ecosystem.
  4. Both CDSL and National Securities Depository Limited (NSDL) regularly conduct audits of such platforms through their agencies, ensuring adherence to regulatory requirements.
  5. Paytm Money specializes in stock market and mutual fund (MF) investments, making it crucial for regulatory compliance in customer verification procedures.
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