Please refer to the Master Direction (MD) on KYC dated February 25, 2016, as amended from time to time, in terms of which Regulated Entities (REs) have to undertake Customer Due Diligence (CDD), as per the process laid out therein, for their customers.
The Reserve Bank has, from time to time, taken measures to rationalise the KYC related instructions taking into account the available technological options for enhancing customers’ convenience within the framework prescribed under the Prevention of Money Laundering Act, 2002 (PMLA) and rules framed thereunder.
IRDAI had issued Master Guidelines on AML/CFT for General insurers and Life insurers in 2013 and 2015 respectively. Subsequently, multiple circulars had been issued on the subject.
CKYC Communique exempts the reporting entities from uploading Self Help Groups (SHGs) and Joint Liability Groups (JLGs) related KYC records to CKYCR
CKYC Communique exempts the reporting entities from uploading Foreign Portfolio Investor’s related KYC records to CKYCR.
CKYC Communique necessitates all the reporting entities to issue a KYC Identifier to each client in a written format and specifies a format to be followed for the same.
CKYC Application Form
SEBI – Circular
RE’s are obligated to submit KYC records of Legal Entity Accounts opened on and after 01st April 2021 and with periodic updation when the updated KYC information is obtained
The IRDAI circular necessitates all Life and General Insurers (Including Standalone Health Insurers) to submit KYC information for legal entities records onboarded on or after 01st April 2021 & incremental upload of data at the time of periodic review.