RBI/2014-15/136
RPCD.RRB.RCB.AML.BC.No.14/07.51.018/2014-15

July 21, 2014

The Chairmen/Chief Executive Officers
All Regional Rural Banks (RRBs)/
State / Central Cooperative Banks (StCBs/CCBs)

Madam / Dear Sir,

Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards / Combating of Financing of Terrorism (CFT) / Obligation of Banks under PMLA, 2002 – Amendment to Prevention of Money-Laundering (Maintenance of Records) Rules 2013

Government of India has notified the “Prevention of Money-Laundering (Maintenance of Records) Amendment Rules, 2013” (Rules) and have published the same in the extraordinary official gazette vide G.S.R. No. 576 (E) dated August 27, 2013. In order to align the existing instructions contained in our Master Circular RPCD.RRB.RCB.AML.BC. No.02/07.51.018 /2014-15 dated July 1, 2014 on Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/ Obligation of banks under PMLA, 2002 with the amendment to PML Rules, it has been decided to notify the corresponding changes on account of the amendments.

2. The important changes are mentioned in the Annex.

3. A copy of the notification is attached for detailed reference.

4. RRBs and StCBs/CCBs may revise their KYC policy in the light of the above instructions and ensure strict adherence to the same.

Yours faithfully,

(A. Udgata)
Principal Chief General Manager

Encl. as above