Company Law - The purpose of this article is to get an overlook about the direction by Board to Registered intermediaries (RI) to upload the KYC records with Central KYC Records Registry (CKYCR) as well as to get deep understanding about the entity details and documents need to be submitted on Central KYC Records Registry (CKYCR) by Legal […]...
Read MoreCompany Law - KYC data of Institution / Legal Entity to be uploaded to CKYCR from April 2021 In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, as amended from time to time by the Government of India, Financial Establishments such as, Banks, NBFCs etc. [her...
Read MoreCompany Law - What is cKYC? Probably some senior persons in the banking industry are aware of the formation of Central KYC registration agency in 2011 and its role etc. cKYC stands for Central KYC which is a centralised repository which allows storage of personal information of the customer centrally. Earlier, when a customer went to a financial [&hell...
Read MoreCompany Law - It is well known that all banks baring private ones always insist for capital infusion by Government which passes negative results on public as Government always conveys banks to raise capital on their own. Due to above, don’t you think that in other words, banks convey that their management is not competitive enough to garner [&hel...
Read MoreCompany Law - ICAI has announced ‘Client KYC Norms’ mandatory w.e.f. 1 Jan. 2017 for compliance by ‘Members in Practice’ The ICAI has announced ‘Client KYC Norms’ mandatory w.e.f. 1 Jan. 2017 for compliance by ‘Members in Practice’ for maintaining requisite documentation/ information about the Clients. These norms shall apply in all ass...
Read MoreCompany Law - BJP professional cell, Mumbai has requested FM that The KYC for DIN Of Director should be once in 5 years or linked to be Aadhar etc. unless there are changes to be voluntarily complied and Even if there is delay a token fee to be levied (Say Rs. 100) and not Rs.5000 which is nothing […]...
Read MoreCompany Law - Norms of Aadhaar KYC are eased, not of the Change of Address in Aadhaar Norms of Aadhaar KYC are eased for opening of bank account and not for the change of address in Aadhaar, said the Department of Revenue (DoR), Ministry of Finance today while clarifying on Aadhaar KYC use with reference to its notification […]...
Read MoreCompany Law - As part of updating its registry, MCA is conducting KYC of all Directors of all companies annually through a new eform viz. DIR-3 KYC . DIR-3 KYC is been notified vide Companies(Appointment and Qualification of Directors) Fourth Amendment Rules, 2018 dated 5th July 2018 and would be made available shortly for filing purposes. While filing...
Read MoreCompany Law - Board has also decided to simplify the norms for KYC verification in the light of introduction of Goods & Services Tax (GST) and in view of the emphasis of government on adoption of a unified identifier. Accordingly, in modification of the earlier instructions...
Read MoreCompany Law - Keeping in mind highest standards of Chartered Accountancy profession in India, Council of ICAI thought it necessary to issue such KYC norms to be observed by members of profession who are in practice....
Read MoreCircular No. PFRDA/2021/31/SUP-POP/4 - (26/07/2021) - 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;...
Read MoreCircular No. RBI/2021-22/35 DOR.AML.REC.No.15/14.01.001/2021-22 - (10/05/2021) - On a review, it has been decided to amend the MD on KYC to further leverage the Video based Customer Identification Process (V-CIP) and to simplify and rationalise the process of periodic updation of KYC....
Read MoreRBI/2019-20/207 DOR.AML.BC.No. 61/14.01.001/2019-20 - (01/04/2020) - Amendment to the PML Rules, Master Direction on KYC- Notwithstanding anything contained in clauses (e) and (f) above, the small account shall remain operational between April 1, 2020 and June 30, 2020 and such other periods as may be notified by the Central Government....
Read MoreSEBI/HO/MIRSD/DOP/CIR/P/2019/123 - (05/11/2019) - Entities in the securities market shall be allowed to undertake Aadhaar Authentication under section 11A of PMLA. SEBI Registered intermediaries for reasons such as online on-boarding of clients, customer convenience, increased efficiency and reduced time for client on-boarding would prefer to use A...
Read MoreRBI/2018-19/190, DBR. AML. BC. No. 39/14.01.001/2018-19 - (29/05/2019) - Important changes carried out in the Master Direction in accordance with the aforementioned amendments are listed hereunder: a) Banks have been allowed to carry out Aadhaar authentication/ offline-verification of an individual who voluntarily uses his Aadhaar number for identification purpose. (Sect...
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Circular No. PFRDA/2021/31/SUP-POP/4 - 26/07/2021
Circular No. RBI/2021-22/35 DOR.AML.REC.No.15/14.01.001/2021-22 - 10/05/2021
RBI/2019-20/207 DOR.AML.BC.No. 61/14.01.001/2019-20 - 01/04/2020
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