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Fema / RBI - 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 MoreFema / RBI - 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 MoreFema / RBI - 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 MoreFema / RBI - 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 MoreFema / RBI - SEBI has, vide Circular dated 5th November, 2019, directed the Depositories and the Listed Companies / Registrar and Transfer Agents (RTA) to implement a due diligence process for processing of dematerialization request in respect of the physical shares....
Read MoreFema / RBI - 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 MoreFema / RBI - 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 MoreFema / RBI - 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 MoreFema / RBI - 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 MoreFema / RBI - Client Information as well as due diligence on clients has become a necessity for professionals in today’s complex business scenario. Such an exercise can be made possible in a structured way. Many professional bodies today advise their members to have KYC about their clients so that professionals can freely exercise and deliver their p...
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...
Read MoreG.S.R.797(E) - (21/08/2018) - MCA has extended the last date of filing DIR -3KYC without any filing fees upto 15/09/2018 from 31/08/2018. The fees of ₹5,000/- shall be applicable & payable on all delayed filings w.e.f 16/09/2018. The Same been done by amending Companies (Registration Offices and Fees) Rules, 2014 vide Noti...
Read MoreCircular No. SEBI/HO/IMD/FIIC/CIR/P/2017/068 - (30/06/2017) - Central Board of Direct Taxes (CBDT) has recently introduced a facility of E-PAN (electronic PAN card) vide press release dated April 11, 2017. Accordingly it is clarified that E-PAN issued by CBDT can also be produced by FPI for KYC The other instructions contained in Circular CIR/IMD/FPIC/123/201 ...
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RBI/2019-20/207 DOR.AML.BC.No. 61/14.01.001/2019-20 - (01/04/2020) -
SEBI/HO/MIRSD/DOP/CIR/P/2019/123 - (05/11/2019) -
RBI/2018-19/190, DBR. AML. BC. No. 39/14.01.001/2018-19 - (29/05/2019) -
