Select Page

Published in accordance with Notice G.S.R. 444(E) of 1.7.2005, published in the Official Gazette of India, Extraordinary, Part 2, Section 3(1), dated 1.7.2005 The Ministry of Finance dated 4 January 2022 has announced that the provisions of subparagraph (1A) of Rule 9 of the Prevention of Money Laundering (Record Keeping) Regulations 2005 do not apply to the foreign portfolio investor. [dd)] “Know Your Client (KYC) identifier” means the records, including electronic records, that a reporting entity relies on to implement the customer due diligence measures referred to in Rule 9 of these Rules; (ii) Each reporting entity shall develop and implement a customer due diligence program that includes the requirements of subsections (1) to (13) and the guidelines issued pursuant to clause (i) above. “controlling interest” means ownership or participation in more than twenty-five percent of the shares, capital or profits of the Company; (h) The central government, in consultation with the regulatory authority, may, by means of an opinion in the public interest and in the interest of the supervised entities, order that any of the provisions of Rule 9 or Rule 9A,-C. For KYC purposes, the client must go to the authorized officer of the reporting entity or vice versa. The original of the official document (OVD) is in the possession of the customer. (d) telegraphic or credit transfers or electronic transfers or transmissions, or Mr. Upon successful verification, the CFO is digitally signed by an authorized representative of the reporting entity, who takes a print of the CFO, obtains the client`s signatures or thumbprints at an appropriate location, and scans and uploads them to the system. The original in paper form can be returned to the customer. B.

Access to the application is controlled by the reporting authorities and care should be taken to ensure that it is not used by unauthorised persons. Access to the Application is only possible through the login ID and password or mechanism controlled by Live OTP or Time OTP, which is transmitted by reporting entities to their authorized employees.