The Times of India News

KYC update backlog directive: RBI warns banks on rejections; new fraud rules planned

The RBI is intensifying efforts to combat financial fraud and bolster customer protection. Banks are directed to expedite KYC updates, especially in rural areas, and avoid arbitrary rejections. New guidelines are forthcoming to tackle mis-selling, while advanced technologies like MuleHunter.ai are being deployed to counter sophisticated cyber threats and enhance digital financial literacy.