KYC Nightmares

[Sushubh]

KYC, Unlock Kar Diya Jaye: Customer ID verification framework is making life difficult for the poor

Poor people are facing increasingly more challenges due to stringent KYC norms, leading to many being unable to access their bank accounts. Urgent revisions to the KYC framework are necessary to prevent similar tragedies.

m.economictimes.com

 

[pothi]

Even though, I knew very well that I will get into KYC nightmare in the future, I didn't expect it to come on Jan 1, 2025, when NSDL Payments Bank blocked all savings and current accounts citing some new video KYC requirements. Initially, I thought it was a joke and left it. Only on the following day when heard about multiple stories, I noticed that my account was blocked too. My first video KYC was done last week (after over 30 days of requesting it), but rejected for unknown reason. The second video KYC request (it was actually re-KYC) early this week, it went through. I had to fight via multiple mediums (in X, for example). It was indeed a nightmare for me. Taught me some lessons too. I used to switch houses every two years. Only in the current house, I have gone over 3 years so far. Even updating the address isn't easy in multiple platforms. For example, AngelOne updated my address swiftly, but not Groww.

 

[Sushubh]

'Right To Digital Access Part Of Article 21' : Supreme Court Directs To Make eKYC Process Accessible To Persons With Disabilities

The State must ensure that government portals, learning platforms etc, are universally accessible to all.

www.livelaw.in

 

[Sushubh]

Video: Why activists unable to blink an eye went to court against E-KYC

Their legal battle ended in a victory this week.

scroll.in

 

[Sushubh]

KYC is Torture: Rural Realities and Reforms

Moneylife Foundation has, for over a decade, consistently raised concerns about the arbitrary and often illegal freezing of bank accounts under the guise of Know Your Customer (KYC) compliance. Despite the clear regulatory framework laid down by the Reserve Bank of India (RBI), in practice, bank...

www.mlfoundation.in

 

[Sushubh]

A trek, a tree & an OTP: The daily digital struggle of Maharashtra’s tribal women

Women in Nandurbar's Dhadgaon taluka face significant challenges with digital governance due to poor mobile connectivity. They trek to hills for signal to complete e-KYC for the Ladki Bahin Yojana. Many verification attempts fail, impacting their access to welfare benefits. Officials acknowledge...

m.economictimes.com

Welfare hangs in balance: Tribal women tie phones to trees for Ladkhi Bahin OTP; state struggles with digital divide | Nashik News - The Times of India

Tribal women in Maharashtra's Nandurbar district face immense challenges accessing government aid, trekking miles to find weak mobile signals for e-KY

timesofindia.indiatimes.com