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High Credit
instalment
Amount
Last Repaid
Amount
Account Status Account
Status
Date
Written Off
Amount
Settled Amount
Major reasons for
Restructuring4
Amount of
Contracts
Classified as
NPA
Asset based
Security
coverage
Guarantee
Coverage
Bank
Remark
Code
Wilful
Default
Status
Date
Classifie... |
Credit Type
Inclusion of additional catalogue values:
•
Mudra term loan
•
Mudra working capital
•
Temporary Overdraft (account should be considered closed
by CICs when it is not reported in subsequent months by CIs
in view
of credit balance in the said account)
Major
reasons
for
restructuring
Inclusion o... |
Form 3: Uniform Credit Reporting Format for MFIs (Including SHG)
This document provides description of the file format for Microfinance data to be
reported to CICs. This format follows Group, Consumer, Account structure – Multiple
Groups, Each Group with Multiple Consumers and Each Consumer if taken credit has
an a... |
B. Header Segment (HDR)
The Header Record is the first segment of the data submission file. It is a required
segment, only one Header segment is reported for each file and it is reported at the start
of the File. It contains information necessary to identify the Member Institution and the
Reporting date. It is a fi... |
#
Field Name
Option
Type
Length
Description
8
File Creation
Date/ Extraction
Date
Required
D
8
The date when the file was created,
which must be equal to or later than
date in the Date Reported Field.
Valid calendar date in DDMMYYYY
format.
For example, Date Reported is
August 31, 2007. If the file w... |
C. Group Segment (GRPCRD)
The Group Segment is the second segment in the data submission file. It contains the
information necessary to identify the Group (only for SHG). It is present once per Group.
Each Group can have many customers/members within it. This is a required segment if
Loan Category is T04 or T05 or ... |
#
Field Name
Type
Len
gth
Option
Description
11 Repayment
Frequency
A/N
3
Required
Enumeration:
F01- Weekly
F02 - Biweekly
F03 - Monthly
F04- Bimonthly
F05- Quarterly
F06- Semi-annually
F07-Annually
F08-Single Payment Loan (bullet / balloon)
F10-Other
12 Instalment Amount
N
9
Required
Inst... |
#
Field Name
Type
Len
gth
Option
Description
X03-Wilful Default Status
X04-Suit Filed, Willful Default
Status
X09-Untagged
X10 - Not Applicable
20 Groups’
Communication
Address
A/N
200 Required
when
present
Communication Address for the Group -
as per address proof document
(Number,
Village/Taluk,... |
#
Field Name
Type
Len
gth
Option
Description
28 Group’s Bank
Account -
Account
Balance
N
10
Required if
available
Account Balance (in Rupees) of group’s
savings bank account
29 First Created Date
D
8
Required if
available
Date when the Group was formed
30 First Linkage Date
D
8
Required if
ava... |
D. Member/Consumer Segment (CNSCRD)
The Member/Consumer Segment is the third segment in the data submission file. It
contains the information necessary to identify the Customer like name, date of birth, the
identification numbers like Voters ID, Aadhaar (UID), Driving License and so on. It is
present once per Custo... |
#
Field Name
Type Length
Option
Description
7
Member Name 2
A/N
50
Required
When
present
Name
of
the
Customer
(Middle Name)
8
Member Name 3
A/N
50
Required
When
present
Name of
the
Customer
(Last Name)
9
Alternate Name of Member
A/N
30
Required
When
present
If any ‘alias’ or maiden na... |
#
Field Name
Type Length
Option
Description
K06-Wife
K15 –Other
17
Member relationship
Name 1*
A/N
100
Required
Relative name. Either Key
Person/Member
Relationship/Nominee details
need to be filled.
18
Member relationship Type 1 A/N
3
Required
when
Member
Relations
hip Name
1 is
populated
E... |
#
Field Name
Type Length
Option
Description
25
Nominee Name*
A/N
100
Required
when
present
Nominee
for
insurance
purposes if defined. Either Key
Person/Member
Relationship/Nominee details
need to be filled
26
Nominee relationship
A/N
3
Required
when
Nominee
Name is
populated
Enumerated:
K0... |
#
Field Name
Type Length
Option
Description
36
Other ID 3 Type
A/N
20
Required
When
present
If any other id is captured, then
information about such id
37
Other ID 3 Value*
A/N
30
Required
When
present
If any other id is captured, then
information about such id
38
Telephone Number 1 type
Indica... |
#
Field Name
Type Length
Option
Description
supplied.
Provide poverty index (if
calculated internally by the
Member Institution) or related
details such as BPL, etc
44
Number of Dependents
N
2
Required
When
present
Dependent family members
45
Bank Account - Bank Name A/N
50
Required
Name of the Ba... |
#
Field Name
Type Length
Option
Description
R08 -Others
R09 - Religion not stated
52
Member's Caste or Social
Strata
A/N
30
Required
Customer’s Caste
Enumeration:
V01 – SC
V02 - ST
V03 - OBC
V04 - NT/VJ (Vimukta Jati and
Nomadic Tribes)
V05 - General
V08 - Others
V09 – Untagged
53
Member’s Ro... |
E. Address Segment (ADRCRD)
The Address Segment is the fourth segment in the data submission file. It contains the
addresses of the customer - permanent address and present address for a customer
along with state code and PIN code. One address segment is mandatory per Member
segment.
#
Field Name
Type
Length ... |
F. Account Segment (ACTCRD)
The Account Segment is the fifth segment within the data submission file. It contains
the financial information related to account such as account number, type of credit
product, original and current terms and repayment information. More than one Account
segment can be present for one Cu... |
#
Field Name
Type
Length
Option
Description
71
Loan Category5
A/N
3
Required
Enumeration:
T01- JLG Group
T02- JLG Individual
T03 – Individual
T04 - SHG Group
T05 - SHG Individual
T06 - SHG Group - Govt
T07 - SHG Intra-Group
T08 – Others
72
Group Identifier
A/N
50
Required
When
present
Req... |
#
Field Name
Type
Length
Option
Description
77
Sanctioned Date
D
8
Required
When
present
Valid calendar date in DDMMYYYY
format
78
Date
Opened/Disburse
D
D
8
Required
Valid calendar date in DDMMYYYY
format
79
Date Closed (if
closed)
D
8
Required
When
present
Required if account status is... |
#
Field Name
Type
Length
Option
Description
(Rupees)
88
Amount Overdue
(Rupees)
N
9
Required
Amount which is due past the
payment
Date
89
DPD (Days past
due)
A/N
3
Required
Enumeration:
000 = 0 payments past due (current
account) with Positive Balance
001 to 999 = Number days past due.
If an a... |
#
Field Name
Type
Length
Option
Description
98
Agreed meeting
day of the week
A/N
3
Required
When
present
Enumeration:
MON - Monday
TUE - Tuesday
WED - Wednesday
THU - Thursday
FRI - Friday
SAT - Saturday SUN - Sunday
99
Agreed Meeting
time of the day
A/N
5
Required
When
present
Should... |
G. Trailer Segment (TRL)
The Trailer Record is the last segment of the credit reporting file. This segment is a
required segment, appears only once per file and indicates end of the file. It is a fixed
length segment.
#
Field Name
Option
Type
Length
Description
1 Segment Identifier
Required
AN
3
Must ... |
Glossary
Term
Description
D
Date
N
Numeric data
A/N
Alphanumeric
Catalogues
A: State
Code
Description
Code
Description
AN
Andaman and Nicobar Islands
LD
Lakshadweep
AP
Andhra Pradesh
MH
Madhya Pradesh
AR
Arunachal Pradesh
ML
Maharashtra
AS
Assam
MN
Manipur
BR
Bihar
MP
Meghalaya
... |
Sample Structure
Header Segment
Segment
Identifier
HDR
Name of
Submission File
HMMFI
Layout
Version Number
3.2
Submitting
MEMBER ID
XXXXXXXXXX
Submitting MEMBER
Name
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Submitting
Branch ID
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
Reported
Date
31032016
File Creation Date/ Ext... |
Data Segment
Segment Identifier
A/N
CNSCRD
Member Identifier
A/N
12345678
Branch Identifier
A/N
9003
Kendra/Centre Identifier
A/N
039003
Group Identifier
A/N
039001^INDIRA SHG
Member Name 1
A/N
ANITA JAYANT NATH
Member Name 2
A/N
Member Name 3
A/N
Alternate Name of Member
A/N
Member Birth Dat... |
Other ID 3 Value
A/N
Telephone Number 1 type Indicator A/N
P03
Member Telephone Number 1
A/N
8754698XXX
Telephone Number 2 type Indicator A/N
Member Telephone Number 2
A/N
Member’s Educational Qualification A/N
Asset ownership indicator/ Poverty
Index
A/N
Number of Dependents
N
2
Bank Account - Bank Na... |
Loan Purpose
A/N
SEA
Account Status
A/N
S04
Application date
(DDMMYYYY)
04022014
Sanctioned Date
(DDMMYYYY)
28022014
Date Opened/Disbursed
(DDMMYYYY)
28022014
Date Closed (if closed)
(DDMMYYYY)
Date of last payment
(DDMMYYYY)
08032016
Applied For amount
N
15000
Loan amount Sanctioned
N
15000
T... |
Annex II
Format for reporting information on Commercial Papers to Credit Information
Companies
‘CP’ proposed Fields
Available Field in Commercial
Data Submission format
Update in the description
column of the format, in
case of commercial paper
Name of CP issuer
BS Segment - Field No. 4. Field
Name: Borr... |
Annex III
Indicative Data Formats for collection of individual SHG members6
Table 1: Information to be collected from individual SHG members where the total
amount of loan to be attributed to or to be availed by the SHG member exceeds ₹30, 0007
Particulars required
Particulars provided
Basis
I. Non-Credit inf... |
12. Educational level
Codes to be used
Illiterate: 1
Passed 5th class: 2
Passed 8th class: 3
Passed 10th class: 4
Above 10th class: 5
Declaration basis
13. Occupation
Codes to be used
Home maker: 1
Landless labourer: 2
Marginal Farmer: 3
Small Farmer: 4
Declarat... |
granted by the CI to the SHG12
be verified by the CI later on.
19. The loans taken by the member in
individual capacity from other
sources
This information may be collected
based on CIC reports, if available.
If
not
available
with
CICs,
individual CI’s reports may be
sought once the member declares
his... |
Table 2: Information to be collected from individual SHG members where the total
amount of loan to be attributed to or to be availed by the SHG member is upto
₹30,00013
Particulars required
Particulars
provided
Basis
I. Non-Credit information
1. Name of the SHG
To be provided by the SHG
member
2. Savings
Ban... |
13. Occupation
Codes to be used
Home maker: 1
Landless Labourer: 2
Marginal farmer: 3
Small Farmer: 4
Declaration basis
14. Monthly Family income
(in ₹)
Declaration basis
15. Social strata
Codes to be used
SC: 1
ST: 2
OBC: 3
General: 5
Declaration basis) ... |
Table 317: Information on individual SHG members to be reported by CIs to CICs
as part of the Uniform Credit Reporting Format (MFI)
Particulars to be reported
Corresponding Field in the MFI Reporting
Format
I.
Non-credit related information
1. Name (as it appears on the identity
document)
Member Segment -Fi... |
Table 4: Information on individual SHG members to be collected at the time
of opening of new SHG Savings Bank Accounts of the SHG
Particulars required
Particulars
provided
Basis
1. Name of the SHG
To be filled in by the SHG
member
2. Savings Bank Account
Number of the SHG
To be assigned by
the bank
3. Na... |
Annex IV
Information on secured assets possessed under the SARFAESI Act, 2002
Sl.
No
Branch
Name
State
Borrower
Name
Guarantor
Name
(wherever
Applicable)
Registere
d
address
of the
Borrower
Registered
address
of the
Guarantor
(wherever
applicable)
Outstanding
amount
(in ₹)
Asset ... |
Annex V
Modifications in the Uniform Credit Reporting Format
1. The nomenclature of the field ‘Fax Number’ shall be changed to ‘Email ID’ in
the Commercial Bureau reporting format.
2. The nomenclature of the field ‘dummy’ shall be changed to ‘Email ID’ under the
MFI Bureau reporting format.
3. The above fields ... |
Annex-VI
Illustration on the timelines for reporting credit information
Credit
Information to be
reported as on
date
CIs to share
data with
CICs by
CICs to ingest and
share rectification
report with CIs by
CIs to share
rectification in
rejected data with
CICs by
Day of
the
month
9th
13th
16th... |
Introduction
In order to prevent banks and other financial institutions from being used as a channel
for Money Laundering (ML) / Terrorist Financing (TF) and to ensure the integrity and
stability of the financial system, efforts are continuously being made both
internationally and nationally, by way of prescribing ... |
Chapter I – Preliminary
A. Short Title and Commencement.
1. These Directions shall be called the Reserve Bank of India (Commercial Banks –
Know Your Customer) Directions, 2025.
2. These directions shall come into effect on the day they are placed on the official
website of the RBI.
B. Applicability
3. These dir... |
are assigned to the terms herein:
(1) Terms bearing meaning assigned in terms of the Prevention of Money-Laundering
Act, 2002, and the Prevention of Money-Laundering (Maintenance of Records) Rules,
2005:
(i) ‘Aadhaar number’ shall have the meaning assigned to it in clause (a) of section 2 of
the Aadhaar (Targeted ... |
the beneficial owner is the natural person(s), who, whether acting alone or together, or
through one or more juridical person, has / have ownership of / entitlement to more than
15 percent of the property or capital or profits of the unincorporated association or body
of individuals.
Explanation: Term ‘body of indi... |
(vii) ‘Designated Director’ means a person whom the bank designates to ensure overall
compliance with the obligations imposed under chapter IV of the PML Act and the
Rules and shall include the Managing Director or a whole-time Director, whom the
Board of Directors has duly authorised.
Explanation: For the purpose... |
tax Act, 1961 (43 of 1961), that is registered as a trust or a society under the Societies
Registration Act, 1860 or any similar State legislation or a company registered
under section 8 of the Companies Act, 2013 (18 of 2013).
(xiv) ‘Officially Valid Document (OVD)’ means the passport, the driving licence,
proof o... |
of submitting the documents specified at (b) above
(d) if the OVD that a foreign national presents does not contain the details of address,
the bank shall accept documents that Government departments of foreign jurisdictions
issue, and a letter that the Foreign Embassy or Mission in India issues, as proof of
addres... |
(b) appears to be made in circumstances of unusual or unjustified complexity; or
(c) appears to have no economic rationale or bona fide purpose; or
(d) gives rise to a reasonable ground of suspicion that it may involve financing of the
activities relating to terrorism.
Explanation: Transaction involving financing o... |
services by one bank (the ‘correspondent bank’) to another bank (the ‘respondent
bank’). A correspondent bank may provide the respondent banks with a wide range of
services, including cash management (e.g., interest-bearing accounts in a variety of
currencies), international wire transfers, cheque clearing, payable-... |
and the USA to improve international tax compliance and to implement FATCA of the
USA.
(ix) ‘KYC Templates’ means templates prepared to facilitate collating and reporting
KYC data to the CKYCR, for individuals and legal entities.
(x) ‘Non-face-to-face customers’ means customers who open accounts without
visiting t... |
it is incorporated and licensed, and which is unaffiliated with a regulated financial group
that is subject to effective consolidated supervision. Physical presence means
meaningful mind and management located within a country. The existence simply of a
local agent or low-level staff does not constitute physical pre... |
(f) Domestic wire transfer: Domestic wire transfer refers to any wire transfer where the
ordering financial institution and beneficiary financial institution are located in India.
This term, therefore, refers to any chain of wire transfers that takes place entirely within
the borders of India, even though the system... |
amount of funds available to a beneficiary at a beneficiary financial institution,
irrespective of whether the originator and the beneficiary are the same person.
(3) Unless defined herein, all other expressions shall have the same meaning as has
been assigned to them under the Banking Regulation Act, 1949, the Rese... |
Chapter II – General
A. Board of Directors / Policies related guidelines:
6. Know Your Customer (KYC) Policy:
(1) The bank shall have a KYC policy. The Board of Directors of the bank, or any
committee to which the Board has delegated power, shall duly approve the KYC policy.
(2) The KYC policy shall include follo... |
Directions.
8. In terms of PML Rules, groups shall implement group-wide policies for the purpose
of discharging obligations under the provisions of Chapter IV of the PML Act, 2002. (15
of 2003). Accordingly, every bank which is part of a group, shall implement group-wide
programmes against money laundering and ter... |
of the Board to which power has been delegated in this regard. The outcome shall also
be made available to competent authorities and self-regulating bodies.
11. The bank shall apply a Risk Based Approach (RBA) for mitigation and management
of the risks (identified on its own or through national risk assessment) and ... |
(1) The Principal Officer shall be responsible for ensuring compliance, monitoring
transactions, and sharing and reporting information as required under the law /
regulations.
(2) The bank shall communicate the name, designation, address and contact details
of the Principal Officer to the FIU-IND and RBI. |
Chapter III – Customer Acceptance Policy
16. The bank shall frame a Customer Acceptance Policy.
17. Without prejudice to the generality of the aspect that Customer Acceptance Policy
may contain, the bank shall:
(1) not open any account in an anonymous or fictitious / benami name.
(2) open no account where it is ... |
as per the provisions of the Information Technology Act, 2000 (21 of 2000).
(12) verify the Goods and Services Tax (GST) number from the search / verification
facility of the issuing authority, where the GST details are available.
18. The Customer Acceptance Policy shall not result in denial of a banking / financial... |
Chapter IV – Risk Management
20. For risk management, the bank shall have a risk-based approach which includes
the following:
(1) The bank shall categorise customers into low, medium, and high-risk categories,
based on its assessment and risk perception.
(2) The bank may lay down broad principles for the risk-cat... |
Chapter V – Customer Identification Procedure (CIP)
21. The bank shall undertake identification of customers in the following cases:
(1) Commencement of an account-based relationship with the customer.
(2) Carrying out any international money transfer operations for a person who is not an
account holder of the bank... |
has measures in place for compliance with customer due diligence and record-keeping
requirements in line with the requirements and obligations under the PML Act.
(4) The bank shall ensure that the third party is not based in a country or jurisdiction
assessed as high-risk.
(5) The bank will have the ultimate respon... |
Chapter VI – Customer Due Diligence (CDD) Procedure
A. CDD Procedure in case of Individuals
23. For undertaking CDD, the bank shall obtain the following from an individual while
establishing an account-based relationship or while dealing with the individual who is
a beneficial owner, authorised signatory or the pow... |
(ii) proof of possession of Aadhaar under clause (2) above where offline verification
can be carried out, the bank shall carry out offline verification.
(iii) an equivalent e-document of any OVD, the bank shall verify the digital signature as
per the provisions of the Information Technology Act, 2000 (21 of 2000) an... |
of Aadhaar number is not required as per proviso (i) above.
Explanation 2: A bank official, business correspondent, or business facilitator can
perform
biometric-based
e-KYC
authentication,
including
Aadhaar
Face
Authentication.
Explanation 3: The bank shall ensure that the use of Aadhaar, proof of possessio... |
(5) The bank’s Application shall have the feature that it captures only a live photograph
of the customer and does not capture any printed or video graphed photograph. The
background behind the customer while capturing live photograph shall be of white
colour and no other person shall come into the frame while captu... |
mobile number registered with the bank. Upon successful OTP validation, the bank
shall treat it as the authorised officer’s signature on the declaration. The live
photograph of the authorised officer shall also be captured in this authorised officer’s
declaration.
(11) Subsequent to all these activities, the Appli... |
Rupees One Lakh. In case the balance exceeds the threshold, the bank shall cease
the account’s operation, until it completes the CDD as mentioned at (6) below.
(4) The aggregate of all credits in a financial year, in all the deposit accounts taken
together, shall not exceed Rupees Two Lakh.
(5) As regards borrowal ... |
(2) Conversion of existing accounts opened in non-face-to-face mode using Aadhaar
OTP based e-KYC authentication as per paragraph 25.
(3) Updation / Periodic updation of KYC for eligible customers.
27. The bank opting to undertake V-CIP, shall adhere to the following minimum
standards:
(1) V-CIP Infrastructure
(i... |
needs, if any, of the customer during liveness check.
(vi) The bank may use appropriate artificial intelligence (AI) technology to ensure that
the V-CIP is robust.
(vii) Based on experience of detected / attempted / ‘near-miss’ cases of forged identity,
the bank shall regularly update the technology infrastructure ... |
indicating the liveness of the interaction, during video interactions to establish that the
interactions are real-time and not pre-recorded.
(iv) The bank shall reject the account opening process if it observes any prompting at
the customer end.
(v) The bank shall factor in the fact that the V-CIP customer is an ex... |
The bank shall ensure that it also confirms the economic and financial profile /
information submitted by the customer from the customer undertaking the V-CIP in a
suitable manner.
(xi) The bank shall capture a clear image of PAN card displayed by the customer during
the process, except in cases where e-PAN is prov... |
28. Notwithstanding anything contained in paragraph 23 and as an alternative thereto,
in case an individual who desires to open a bank account, the bank shall open a ‘Small
Account’, which entails the following limitations:
(1) the aggregate of all credits in a financial year does not exceed Rupees One Lakh;
(2) th... |
account shall remain operational between April 1, 2020, and June 30, 2020, and such
other periods as the Central Government may notify.
(viii) The bank shall monitor the account, and when there is suspicion of money
laundering or financing of terrorism activities or other high-risk scenarios, the bank
shall establi... |
Tax authorities
(6) IEC (Importer Exporter Code) issued to the proprietary concern by the office of
DGFT or Licence / certificate of practice issued in the name of the proprietary concern
by any professional body incorporated under a statute
(7) Complete Income Tax Return (not just the acknowledgement) in the name ... |
copies of each of the following documents or the equivalent e-documents thereof:
(1) Registration certificate
(2) Partnership deed
(3) PAN of the partnership firm
(4) Documents, as specified in paragraph 23, relating to beneficial owner, managers,
officers or employees, as the case may be, holding an attorney to t... |
officers or employees, as the case may be, holding an attorney to transact on its behalf
and
(5) Such information as may be required by the bank to collectively establish the legal
existence of such an association or body of individuals.
Explanation: Unregistered trusts / partnership firms shall be included under t... |
(iii) it is a subsidiary of such listed entities; it is not necessary to identify and verify the
identity of any shareholder or beneficial owner of such entities.
(2) In cases of trust / nominee or fiduciary accounts, the bank determines whether the
customer is acting on behalf of another person as trustee / nominee... |
especially accounts of Multi-level Marketing (MLM) companies.
Explanation: The bank shall subject high-risk accounts to more intensified monitoring.
Explanation: Cases where a large number of cheque books are sought by the company
and / or multiple small deposits (generally in cash) across the country in one bank
a... |
customer through customer’s email-id registered with the bank, customer’s mobile
number registered with the bank, ATMs, digital channels (such as online banking /
internet banking, mobile application of bank), letter, etc., and shall verify the declared
address through positive confirmation within two months, by mea... |
and, at that time, shall ensure that CDD documents as per the current CDD standards
are available. Wherever required, the bank may carry out fresh KYC of such
customers, i.e., customers for whom it opened account when they were minor, upon
their becoming a major.
(vi) The bank may use Aadhaar OTP based e-KYC in non... |
issuing authority at the time of periodic updation of KYC.
(iii) The bank provides an acknowledgment to the customer mentioning the date of
receipt of the relevant document(s), including self-declaration from the customer, for
carrying out updation / periodic updation. Further, the bank shall ensure that it promptly... |
not complied with the requirements, despite advance intimations. The letter of
intimation / reminder may, inter alia, contain easy-to-understand instructions for
updating KYC, escalation mechanism for seeking help, if required, and the
consequences, if any, of failure to update their KYC in time. Issue of such advan... |
than customer onboarding in terms of paragraph 25): Non-face-to-face onboarding
facilitates the bank to establish a relationship with the customer without meeting the
customer physically or through V-CIP. Such non-face-to-face modes for the purpose
of this paragraph include use of digital channels such as CKYCR, Dig... |
due diligence:
(i) the bank has in place appropriate risk management systems to determine whether
the customer or the beneficial owner is a PEP;
(ii) The bank shall take reasonable measures for establishing the source of funds /
wealth;
(iii) the bank shall obtain approval to open an account for a PEP from the sen... |
the bank, the bank shall look for the beneficial owners.
(5) The bank shall, at their discretion, rely on the 'customer due diligence' (CDD) done
by an intermediary, provided that the intermediary is a regulated and supervised entity
and has adequate systems in place to comply with the KYC requirements of the
custo... |
opening the account.
49. Simplified KYC norms for Foreign Portfolio Investors (FPIs):
(1) Accounts of FPIs which are eligible / registered as per SEBI guidelines, for the
purpose of investment under Portfolio Investment Scheme (PIS), shall be opened by
accepting KYC documents as detailed in (2) below, subject to ... |
Senior
Management
(Whole Time
Directors/
Partners/
Trustees/
etc.)
List
Mandatory
Mandatory
Mandatory
Proof of
Identity
Exempted *
Exempted *
Entity
declares* on
letter head full
name,
nationality,
date of birth or
submits photo
identity proof
Proof of
Address
Exempted *
Exempted *
Declaratio... |
@@ FPIs from certain jurisdictions where the practice of passing Board Resolution
for the purpose of opening bank accounts etc. is not in vogue, may submit ‘Power of
Attorney granted to Global Custodian/Local Custodian in lieu of Board Resolution’
Category
Eligible Foreign Investors
I.
Government and Government ... |
Chapter VII – Record Management
50. The bank shall take the following steps regarding maintenance, preservation
and reporting of customer information, with reference to provisions of PML Act and
Rules. The bank shall,
(1) maintain all necessary records of transactions between the bank and the customer,
both domes... |
undertaken.
51. The bank shall ensure that in case of customers who are non-profit organisations,
the bank registers details of such customers on the DARPAN Portal of NITI Aayog. If
they are not registered, the bank shall register the details on the DARPAN Portal. The
bank shall also maintain such registration reco... |
Chapter VIII – Reporting Requirements to Financial Intelligence Unit – India
52. The bank shall furnish to the Director, Financial Intelligence Unit-India (FIU-
IND), the information referred to in Rule 3 of the PML (Maintenance of Records)
Rules, 2005 in accordance with Rule 7 thereof.
Explanation: In terms of Thir... |
robust software that generates alerts when transactions are inconsistent with a
customer's risk categorisation and updated profile. |
Chapter IX – Requirements/obligations under International Agreements -
Communications from International Agencies
56. Obligations under the Unlawful Activities (Prevention) (UAPA) Act, 1967:
(1) The bank shall ensure that in terms of section 51A of the Unlawful Activities
(Prevention) (UAPA) Act, 1967 and amendment... |
Directions), and shall ensure the meticulous compliance with the Order issued by the
Government. The list of Nodal Officers for UAPA is available on the website of MHA.
57. Obligations under Weapons of Mass Destruction (WMD) and their Delivery
Systems (Prohibition of Unlawful Activities) Act, 2005 (WMD Act, 2005):
... |
(8) In case the bank receives an order to freeze assets under section 12A from the
CNO, the bank shall, without delay, take necessary action to comply with the Order.
(9) The bank shall observe the process of unfreezing of funds, etc., as per paragraph
7 of the Order. Accordingly, the bank shall forward a copy of ap... |
Explanation: The processes referred to in (1) and (2) above do not preclude the bank from
having legitimate trade and business transactions with the countries and jurisdictions
mentioned in the FATF statement.
(3) The bank shall examine the background and purpose of transactions with persons
(including legal person... |
Chapter X – Other Instructions
63. Secrecy Obligations and Sharing of Information:
(1) The bank shall maintain secrecy regarding the customer information that arises out
of the contractual relationship between the bank and the customer.
(2) The bank shall treat information collected from customers for the purpose ... |
(2) In terms of provision of Rule 9(1A) of the PML Rules, the bank shall capture
customer’s KYC records and upload onto CKYCR within 10 days of commencement
of an account-based relationship with the customer.
(3) Operational Guidelines for uploading the KYC data have been released by
CERSAI.
(4) The bank shall cap... |
the KYC records of the existing customer in CKYCR. CKYCR shall thereafter
inform electronically all the reporting entities who have dealt with the concerned
customer regarding updation of KYC record of the said customer. Once CKYCR
informs the bank regarding an update in the KYC record of an existing custom... |
bank downloading and relying on KYC records downloaded from the CKCYR shall
remain responsible for all aspects of CDD procedure and provisions of these
Directions, except verification of identity and / or address of the customer.]
66. Reporting requirement under Foreign Account Tax Compliance Act (FATCA)
and Common... |
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