Update KYC in E-wallet before 28th Feb. 2018: RBI

Updates

Update KYC in E-wallet as deadline is very close.
As per RBI guidelines issued in October 2017 as revised, E-wallet companies must convert all the E-wallet or other instruments issued by them to full KYC by 28th February 2018. Full KYC made mandatory to keep them functioning in normal manner otherwise sever restrictions would be imposed on their usage.
Till 1st Feb 2018, total number of customers having full KYC in their E-waller is less than 10%. If these guidelines are not revised then E-wallet companies may lose customers.
RBI has confirmed that customers will not lose their money in E-wallet account even if full KYC are not maintained But restriction regarding transferring money to and from bank account to E-wallet may be imposed.
For proper functioning of your E-wallet update your KYC detail in all your E-wallets account like Airtel Money, Ola Money, Sodexo card or Paytm Etc. by 28th Feb. 2018.