Financial Express – Covid-19: How this timely decision of RBI helped new investors enter financial markets

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Video - KYC

This gave the financial sector just enough time to put the technologies in place to enable the video-based eKYC process to allow new customers enter the financial markets digitally during the lockdown.

Just about two-and-a-half months before the nationwide lockdown was imposed to contain the spread of highly-contagious Novel Coronavirus Covid-19, the Reserve Bank of India took a decision to allow the use of video KYC (Know Your Customer) to facilitate onboarding of new customers through eKYC.

This gave the financial sector just enough time to put the technologies like – Optical Character Recognition (OCR), Live Video, Artificial Intelligence (AI) etc – in place to enable the video-based eKYC process to allow new customers enter the financial markets digitally during the lockdown.

Read more at : https://www.financialexpress.com/money/covid-19-how-this-timely-decision-of-rbi-helped-new-investors-enter-financial-markets/2135609/

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