Days after the Financial Stability and Development Council (FSDC) discussed a proposal to bring out uniform Know Your Customer (KYC) norms, the government has formed an expert committee headed by Finance Secretary T V Somanathan (pictured) to make its recommendations on the matter, official sources said.

       “The committee has been constituted. Different government departments and FSDC members are part of it,” a senior official said.

       The committee would invite inputs from all the members of the FSDC on KYC norms. The Ministry of Corporate Affairs, for instance, would share its practices with regards to the use of the permanent account number (PAN)

       Also Read

       FASTag KYC update 2024: Things to know about documents needed for KYC

       Central Depository Services India to inspect Paytm Money's KYC process

       SBI-backed payment aggregator Cashfree unveils first no-code KYC link

       PM-Kisan 16th instalment: Complete eKYC to receive payment; know how here

       RBI urges public to be cautious of fraud in the name of KYC update

       Urban Bihar, rural UP lead growth in per capita consumption expenditure

       Coal sector contributes Rs 70,000 cr every yr to Centre, states: Govt

       India may face 10.5% VAT on production under CBAM regime: ADB study

       Food weighting in CPI may be cut as spending shifts, says official

       Real GDP growth likely expanded by 7% in December quarter: Report