Companies, CAs may have to submit KYC details to government
The Ministry of Corporate Affairs (MCA) is planning to collect Know Your Customer (KYC) details of companies, chartered accountants, cost accountants and company secretaries. The exercise would help form a "sanitised list" of companies and professionals, MCA Secretary Injeti Srinivas said. The ministry earlier carried out the KYC initiative for company directors to prevent illicit flow of funds.