KYC norms - Page 6

Citibank fraud – RBI probes possible violation of KYC, STR norms

In the alleged Rs 400-crore fraud by a senior employee at a Gurgaon branch of Citibank, RBI is probing whether there have been any violations of norms related to customer verification and monitoring of accounts. The initial probe by the banking regul...

Read More
Posted Under: Fema / RBI | ,

Complete your KYC formalities before Jan 1, 2011

KYC-Compliance: CDSL Ventures (CVL), a wholly-owned subsidiary of Central Depository Services-India (CDSL), has been appointed by the mutual fund industry to do KYC verification of investors. So, an investor needs to submit the following mandatory do...

Read More
Posted Under: Fema / RBI |

Ministry of Finance Notification recognises Aadhaar number for Opening of Bank Accounts

A Ministry of Finance, Government of India, notification dated the 16 of December 2010 has recognized Aadhaar number issued by the Unique Identification Authority of India (UIDAI) as an “officially valid document” to satisfy the Know Your Customer (K...

Read More
Posted Under: Fema / RBI |

Cross Border Inward Remittance under Money Transfer Service Scheme (MTSS)- A.P. (DIR Series) Circular No. 28

RBI/2010-11/322, A.P. (DIR Series) Circular No. 28, A.P. (FL Series) Circular No. 09 22/12/2010

A.P. (DIR Series) Circular No. 28 Authorised Persons (Indian Agents) were advised to take into account risks arising from the deficiencies in AML/CFT regime of certain jurisdictions, as identified in FATF Statement (www.fatf-gafi.org) issued from time to time, while dealing with individuals from these jurisdictions....

Read More

RBI Circular on Money changing activities- A.P. (DIR Series) Circular No. 27

RBI/2010-11/321, A.P. (DIR Series) Circular No. 27, A.P. (FL/RL Series) Circular No.08 22/12/2010

Know Your Customer (KYC) norms/ Anti-Money Laundering (AML) standards/ Combating the Financing of Terrorism (CFT)/ Obligation of Authorised Persons under Prevention of Money Laundering Act, (PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act, 2009- Money changing activities....

Read More

Cross Border Inward Remittance under Money Transfer Service Scheme (MTSS)- A.P. (DIR Series) Circular No. 26

RBI/2010-11/320, A.P. (DIR Series) Circular No. 26, A.P. (FL Series) Circular No. 07 22/12/2010

All Authorised Persons (Indian Agents) are accordingly advised to take into account risks arising from the deficiencies in AML/CFT regime of these countries, while entering into business relationships and transactions with persons (including legal persons and other financial institutions) from or in these countries/ jurisdictions....

Read More

KYC Norms/AML Standards/Combating Financing of Terrorism/Obligation of Authorised Persons under PMLA, 2002, as amended by PMLA- A.P. (DIR Series) Circular No. 25

RBI/2010-11/319, A.P. (DIR Series) Circular No. 25, A.P. (FL/RL Series) Circular No. 06 22/12/2010

Jurisdictions with strategic AML/CFT deficiencies that have not committed to an action plan developed with the FATF to address key deficiencies as of June 2010. The FATF calls on its members to consider the risks arising from the deficiencies associated with each jurisdiction: Democratic People's Republic of Korea (DPRK), Sao Tome and Pri...

Read More

RRBs – Opening of bank accounts – salaried employees – RBI/2010-11/298

RBI/2010-11/298 RPCD.CORRB.AML.BC.No.31/ 03.05.33(E)/2010-11 06/12/2010

It has been brought to the notice of RBI that for opening bank accounts of salaried employees, some banks rely on a certificate/letter issued by the employer as the only KYC document for the purposes of certification of identity as well as address proof. Such a practice is open to misuse and fraught with risk....

Read More

Now, you can't buy mutual funds without a PAN card

All mutual fund investors, new as well as existing, will need to mandatorily furnish their PAN (Permanent Account Number) details from next year irrespective of the size of their investment. The move is part of the revised Know-Your-Customer (KYC) co...

Read More
Posted Under: Fema / RBI |

ICAI proposes changes in accounting practices in commercial banks to make bank audits foolproof and effective

The Institute of Chartered Accountants of India (ICAI), the national standard setting body of auditors, has proposed comprehensive changes to the current accounting practices in commercial banks to make bank audits foolproof and effective. ...

Read More
Posted Under: Fema / RBI | ,

Browse All Categories

CA, CS, CMA (5,724)
Company Law (7,665)
Custom Duty (8,712)
DGFT (4,623)
Excise Duty (4,527)
Fema / RBI (4,815)
Finance (5,182)
Income Tax (38,420)
SEBI (4,133)
Service Tax (3,777)

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930