Plans Afoot to Digitalise KYC, Curb Illegal Online Lending

 The Financial Stability and Development Council (FSDC), headed by union finance minister Nix- mala Sitharaman, decided on Wednesday to firm up a strategy to simplify and digi- talise the KYC (know-your- customer) process in the fi- nancial sector and take more steps to curb unauthorised lending through online app- lications.

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