NSE launches KYC registration agency

The National Stock Exchange (NSE) launched a know-your-customer registration agency (KRA) through its subsidiary Dotex International. The move comes in the wake of a specific directive from the SEBI to start KRAs. “Brokers who have been working with us had approached us to provide them with this additional service... So, NSE has decided to offer this facility through Dotex,” NSE said in a statement. The initiative will benefit investors as their paper work will be reduced and they have the option of going to another intermediary without repeating the KYC formalities.

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Airtel’s mobile wallet service

Bharti Airtel has launched mobile wallet service ‘airtel money’ in Maharashtra and Goa. Customers could choose from two airtel money accounts: express and power accounts. In express accounts, one can load cash and spend up to Rs10,000 daily, while the power account has a limit of Rs5,000 per transaction. Over 1,800 brands across the country will accept payments via airtel money. The brands include utility providers, insurers, retailers, mutual funds, movie theatres and local merchants. Airtel has tied up with over 60 brands and merchants in the north eastern states for its airtel money.

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Nokia to scrap mobile money

Nokia has decided to shut down its mobile money services globally. The decision is in line with its earlier decision to move out from non-core business. However, the service will continue for three-four months until an exit strategy is formulated and customers have time to use up the money. Nokia launched the services in 2010 in association with Yes Bank and Union Bank. Around 1.2 million people are using Nokia mobile money services throughout India.

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