Reserve Bank Of India
A. P. (DIR Series) Circular No. 67
January 2, 2013
To,
All Authorised Persons, who are Indian agents under
Money Transfer Service Scheme
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- Cross Border Inward Remittance under
Money Transfer Service Scheme
Please refer to Annex-II to the A.P. (Dir Series) Circular No. 18 [A.P. (FL/RL
Series) Circular No. 05] dated November 27, 2009, as amended from time to time.
- In order to ease the burden on the prospective customers in complying with
KYC requirements for doing money transfer activities under the Money Transfer
Service Scheme, it has now been decided that:
If the address on the document submitted for identity proof by the prospective
customer is same as that declared by him/her, the document may be accepted as a
valid proof of both identity and address. If the address indicated on the
document submitted for identity proof differs from the current address declared
by the customer, a separate proof of address should be obtained.
- All the other instructions contained in the A.P. (DIR Series) Circular No. 18
[A.P. (FL/RL Series) Circular No. 05] dated November 27, 2009, as amended from
time to time shall remain unchanged.
- These guidelines would also be applicable mutatis mutandis to all Sub-Agents
of the Indian Agents under MTSS and it will be the sole responsibility of the
APs (Indian Agents) to ensure that their Sub-agents also adhere to these
guidelines.
- Authorised Persons (Indian Agents) may bring the contents of this circular to
the notice of their constituents concerned.
- Please advise your Principal Officer to acknowledge receipt of this circular
letter.
- The directions contained in this Circular have been issued under Section
10(4) and Section 11(1) of the Foreign Exchange Management Act, 1999 (42 of
1999) and also under the, Prevention of Money Laundering Act, (PMLA), 2002, as
amended by Prevention of Money Laundering (Amendment) Act, 2009 and Prevention
of Money-Laundering (Maintenance of Records of the Nature and Value of
Transactions, the Procedure and Manner of Maintaining and Time for Furnishing
Information and Verification and Maintenance of Records of the Identity of the
Clients of the Banking Companies, Financial Institutions and Intermediaries)
Rules, 2005 as amended from time to time and are without prejudice to
permission/approvals, if any, required under any other law.
Yours faithfully,
(Rudra Narayan Kar)
Chief General Manager
RBI/2012-13/362