Bayside Advisors (LexBlog India)
4 results for Bayside Advisors (LexBlog India)
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Amendments and Ordinances: eKYC is Dead (Long Live eKYC?)
Just as we thought February 2019 was going to be a slow month for privacy and profiling laws in India, this Press Release, published at 10:34 p.m. on the very last day of the month, changed things around completely! If you follow this space closely, you know by now that the Press Release announced the...
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What the Proposed PMLA Amendments Might Mean
This morning’s news carried stories (samples here and here) of the Cabinet’s approval to a set of amendments to the Prevention of Money Laundering Act, 2002 (the “PMLA”), the Telegraph Act, 1885, and the Aadhaar (Targeted Delivery of Financial and other Subsidies, benefits and services) Act, 2016 (the “Aadhaar Act”). While specifics are still unavailable...
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The 500 Million Mobiles Question: KYC Kaise Karein?
The past couple of days have been near-heartstoppers for nearly half of India’s mobile phone subscribers – two days ago, a news story in The Times of India (this one) did the rounds, telling us that: “There could be a fresh KYC headache for over 50 crore mobile connections, or almost half of India’s phone...
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Data Localisation: Why the RBI isn’t Listening to Your ‘Mirroring’ Argument
The RBI’s mandate to payment systems providers that they store ‘the entire data relating to payments systems operated by them… in a system only in India’ expires today. But you already knew that. Two US senators, John Cornyn and Mark Warner, co-chairs of the US Senate’s India caucus, we are told, have jumped into the...