Reserve Bank of India
RBI/2021-22/10
DOR.AML.BC.No.1/14.01.001/2021-22
April 1, 2021
The Chairpersons/ CEOs of all the banks
Madam/Sir,
Amendment to Master Direction (MD) on KYC – KYC norms for Self Help Groups (SHGs)
Please refer to Section 43 of the Master Direction on KYC dated February 25, 2016 as amended from time to time, wherein simplified norms for Self Help Groups (SHGs) have been stipulated.
2. In this regard, on a review, it has been decided to amend clause (c) of Section 43 to read as under:
“Customer Due Diligence (CDD) of all the members of SHG may be undertaken at the time of credit linking of SHGs.”
3. The Master Direction on KYC dated February 25, 2016, is hereby updated to reflect the changes effected by the above amendment and shall come into force with immediate effect.
Yours faithfully,
(Thomas Mathew)
Chief General Manager
