PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
CIRCULAR
CIR No.: PFRDA/2021/31/SUP-POP/4
26th July 2021
To,
All Points of Presence (PoPs)
Dear Sir / Madam,
Subject: Central KYC Records Registry (CKYCR)
1. Reference is invited to PFRDA’s Circular no. PFRDA/2021/11/SUP-POP/1 dated 22nd April 2021 on the above mentioned subject.
2. The following points shall be inserted after point 2, namely: –
(2A) Once KYC Identifier is generated by CKYCR, PoPs shall ensure that the same is communicated in writing and in confidential manner to the subscribers in accordance with Rule 9 (1B) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended;
(2B) In accordance with Rule 9 (1C) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended, where a subscriber, for the purposes of establishing an account-based relationship, submits a KYC Identifier to PoP, then such PoP shall retrieve the KYC records online from the Central KYC Records Registry by using the KYC Identifier and shall not require a subscriber to submit the same KYC records or information or any other additional identification documents or details, unless –
(i) there is a change in the information of the subscriber as existing in the records of Central KYC Records Registry;
(ii) the current address of the subscriber is required to be verified;
(iii) the PoP considers it necessary in order to verify the identity or address of the subscriber, or to perform enhanced due diligence or to build an appropriate risk profile of the subscriber.
Further, in case third party KYC is done on the basis of “KYC identifier” and the PoP is satisfied with KYC as per Rule 9 of Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended, no KYC records are required to be uploaded by REs, unless there is change in information as detailed on point (i), (ii) and (iii) above.
However, for the purpose of proper due diligence, PoP may seek other necessary documents.
(2C) PoPs after obtaining additional or updated information from a subscriber under of Rule 9(1C) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended, shall as soon as possible furnish the updated information to the Central KYC Records Registry.
(2D) PoPs shall not use the KYC records of a subscriber obtained from the Central KYC Records Registry for purposes other than verifying the identity or address of the client and shall not transfer KYC records or any information contained therein to any third party as per Rule 9(1F) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 as amended.
(2E) PoPs shall ensure that in case of accounts that have been opened prior to operationalisation of CKYCR, the KYC records are updated in the CKYCR during periodic updation and that the subscriber’s accounts are migrated to current Customer Due Diligence Standards (CDD).
3. This circular is issued in exercise of the powers conferred under Section 14 of Pension Fund Regulatory and Development Authority Act, 2013 to protect the interests of subscribers and to regulate, promote and ensure orderly growth of the National Pension System and pension schemes to which the Act applies.
4. A copy of this Circular is available on the website of PFRDA at pfrda.org.in.
Yours faithfully,
-sd-
(Sumeet Kaur Kapoor)
Chief General Manager
sumeet.kapoor@pfrda.org.in
