Reserve Bank of India
A.P. (DIR Series) Circular No. 60
December 22, 2011
To
All Authorised Persons in Foreign Exchange
Madam/Sir,
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
Attention of Authorised Persons is invited to
F-Part-II of the Annex to the A.P.
(Dir Series) Circular No. 17 [A.P. (FL/RL Series) Circular No. 04] dated
November 27, 2009.
- In view of the problems faced by the money changers while obtaining documents
towards address proof from foreign tourists, it has been decided to amend
certain instructions contained in the aforementioned Part. The amended
instructions are given in the
Annex.
- All the other instructions contained in the A.P. (DIR Series) Circular No. 17
[A.P. (FL/RL Series) Circular No. 04] dated November 27, 2009 shall remain
unchanged.
- Authorised Persons may bring the contents of this circular to the notice of
their constituents concerned.
- The directions contained in this Circular have been issued under Sections
10(4) and 11(1) of the Foreign Exchange Management Act, 1999 (42 of 1999) and
non-compliance with the guidelines would attract penal provisions of Section
11(3) of the Act ibid.
Yours faithfully,
Meena Hemchandra
Chief General Manager-in-Charge
RBI/2011-12/313
Annex
[Annex to A.P. (DIR Series) Circular No.60]
Dated December 22, 2011
Customer Identification Procedure
Features to be verified and documents that may be obtained from customers
| Extant
Guidelines
|
Revised
Guidelines |
| Features |
Documents |
Features
|
Documents |
| Transactions With Individuals
|
|
Transactions With
Individuals |
|
| - Legal name and any other names used
|
(i) Passport (ii) PAN card (iii) Voter's
Identity Card (iv) Driving licence (v) Identity card (subject to the
AP's satisfaction) (vi) Letter from a recognized public authority or
public servant verifying the identity and residence of the customer to
the satisfaction of the AP. |
-Legal name and any other
names used |
i) Passport (ii) PAN card (iii) Voter's
Identity Card (iv) Driving licence (v) Identity card (subject to the
AP's satisfaction) (vi) Letter from a recognized public authority or
public servant verifying the identity and residence of the customer to
the satisfaction of the AP. |
| -Correct permanent address |
(i) Telephone bill (ii) Bank account statement
(iii) Letter from any recognized public authority (iv) Electricity bill
(v) Ration card (vi) Letter from employer (subject to satisfaction of
the AP).
(any one of the documents, which provides customer information to the
satisfaction of the AP will suffice). |
-Correct permanent address
|
(i) Telephone bill (ii) Bank account statement (iii)
Letter from any recognized public authority (iv) Electricity bill (v)
Ration card (vi) Letter from employer (subject to satisfaction of the
AP).
(any one of the documents, which provides customer information to the
satisfaction of the AP will suffice).
Note: - In case of foreign tourists, copies of passport containing
identification particulars and address, may be accepted as documentary
proof for both identification as well as address. Further, a copy of the
visa of non-residents, duly stamped by Indian Immigration authorities
may also be obtained and kept on record. |