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Sebi, in a circular on May 14, removed the requirement for investors to link the permanent account number (PAN) with Aadhaar to obtain the 'KYC registered' status for mutual fund transactions.
The acquisition also gives an exit to early-stage venture capital fund 8i Ventures, which had invested Rs 4.5 crore in a seed round in Difenz.
As identity theft threats increase, industries with ID verification needs are seeking partnerships supplying solid benefits in security, efficiency and revenue.
This comes on the back of a recent instruction from the RBI asking these companies to halt usage of these payment instruments for business payments made to vendors, suppliers and other such entities. Following this directive, card networks have informed payment companies to stop these services to their clients.
One-Touch aims to revolutionize how businesses configure and integrate their KYC process.