Reserve Bank of India
RBI/2019-20/235
DOR.NBFC (HFC).CC.No.111/03.10.136/2019-20
May 19, 2020
To
Housing Finance Companies
Madam/ Sir,
Extending Master Direction – Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies
The Master Direction – Know Your Customer (KYC) Direction, 2016 issued by the Bank has consolidated directions on Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) and is applicable to all Regulated Entities of the Bank. In this connection, attention is invited to our Press Release no.2019-2020/419 dated August 13, 2019 on transfer of regulation of Housing Finance Companies to Reserve Bank of India.
2. It has been decided to extend the Master Direction – Know Your Customer (KYC) Direction, 2016 to all Housing Finance Companies.
3. Instructions/ guidelines/ regulations contained in the circulars mentioned in the Appendix, issued by National Housing Bank (erstwhile regulator of Housing Finance Companies) stand repealed.
Yours faithfully,
(Manoranjan Mishra)
Chief General Manager
Appendix – List of circulars repealed
| S.No. | Circular number | Date of the circular | Subject |
| 1 | NHB(ND)/DRS/Pol-No.19/2006 | November 27, 2006 | Suggestions made by the participants at the meeting of principal officers at Bangalore on September 15, 2006 – Clarifications. |
| 2 | NHB(ND)/DRS/Misc.Circular-1/ 2010 | January 25, 2010 | KYC Norms/ AML Standards/ CFT. |
| 3 | NHB (ND)/DRS/Misc.Circular-No.4/2010-11 | May 06, 2011 | Guidelines on KYC & AML measures for HFCs. |
| 4 | NHB(ND)/DRS/Pol-No.39/2010-11 | May 19, 2011 | List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999) and 1822 (2008) on Taliban/ AL-Qaida Organisation. |
| 5 | NHB(ND)/DRS/Pol-No.42/2011-12 | October 11, 2011 | List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999) and 1989 (2011) on Taliban/ AL-Qaida Organisation. |
| 6 | NHB(ND)/DRS/Pol-No.47/2011-12 | March 29, 2012 | List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999), 1988 (2011) and 1989 (2011) on Taliban/ AL-Qaida and Associated Individuals and Entities. |
| 7 | NHB(ND)/DRS/Pol-No.52/2012-13 | September 26, 2012 | List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999), 1988 (2011) and 1989 (2011) on Taliban/ AL-Qaida and Associated Individuals and Entities. |
| 8 | NHB(ND)/DRS/Pol.Circular No.59/2013-14 | January 24, 2014 | Central Know Your Customer Registry. |
| 9 | NHB(ND)/DRS/Pol-No.68/2014-15 | January 14, 2015 | Inter-Governmental Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA) – Registration. |
| 10 | NHB(ND)/DRS/Policy Circular No.76/2016-17 | November 01, 2016 | Central Know Your Customer Registry (Corrected) |
| 11 | NHB/ND/DRS/Policy Circular No.94/2018-19 | March 11, 2019 | Guidelines on KYC & AML Measures for HFCs. |
