Kyc Norms as Per RBI

I want to know about the Reserve Bank of India Norms for Know Your Customer so please can you give me the Norms and provide me the page where I can get the detail of Kyc Norms as Per RBI.

You want to know details of Reserve Bank of India Norms for Know Your Customer so here is its details:

Banks were advised to follow certain customer identification procedure for opening of accounts and monitoring transactions of a suspicious nature for the purpose of reporting it to appropriate authority. These ‘Know Your Customer’ guidelines have been revisited in the context of the Recommendations made by the Financial Action Task Force (FATF) on Anti Money Laundering (AML) standards and on Combating Financing of Terrorism (CFT). Detailed guidelines based on the Recommendations of the Financial Action Task Force and the paper issued on Customer Due Diligence (CDD) for banks by the Basel Committee on Banking Supervision, with indicative suggestions wherever considered necessary, have been issued. Banks have been advised to ensure that a proper policy framework on ‘Know Your Customer’ and Anti-Money Laundering measures with the approval of the Board is formulated and put in place.

For complete details you have to download pdf file which I am uploading for you and you are free to download.

Attached Files Available for Download

RBI KYC Norms.pdf (234.0 KB, 28 views)

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