The guidance note aims to explain FATCA and CRS reporting requirements in a simple manner in order to assist FI, Banks and other bodies in complying with the reporting regulatory requirements.
Circular details out the dates for CKYC compliance (for the new accounts opened after Aug 1, 2016) required for entities registered under SEBI.
For the Mutual fund entities, all the existing customer to be uploaded to CKYCR in tranches of 30% by November 30, 2016, another 30% by January 31, 2017 and the rest 40% data by March 31, 2017.
The circular makes the RBI Master Directions on PMLA
applicable to RRBs.