Financial Daily from THE HINDU group of publications
Friday, Jul 22, 2005
Financial Daily from THE HINDU group of publications Friday, Jul 22, 2005 |
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Money & Banking
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RBI & Other Central Banks Info-Tech - E-Commerce & E-Business `No prior approval required for Net banking' Our Bureau
Mumbai , July 21 BANKS need not seek prior approval from the Reserve Bank of India for offering Internet banking services to customers, RBI said in a notification on Wednesday. The RBI guidelines said the respective bank board should approve the Internet banking policy. The policy should fit into the bank's overall information technology and information security policy. The policy should also take into account operational risk and should also lay down the procedure to be followed for "Know Your Customer" requirements, the guidelines added.
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