Non Banking Financial Companies(NBFCs)

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NBFCs - Prevention of Money-laundering Amendment Rules, 2009 – Obligation of Banks/FIs

RBI/2009-10/428
DNBS(PD)CC.No 171/03.10.42/2009-10

April 23, 2010

All Non Banking Financial Companies /
Residuary Non Banking Companies

Dear Sir,

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) Amendment Rules, 2009 - Obligation of banks/Financial institutions

As you are aware, Government of India vide its Notification No.13/2009/F.No.6/8/2009-ES dated November 12, 2009, has amended  the 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. A copy of the Notification is enclosed for ready reference, which may be studied and the amendments clearly noted and spread across your organisation.

2. NBFCs and RNBCs are advised to strictly follow the amended provisions of PMLA Rules and ensure meticulous compliance to these Rules.

Yours faithfully,

(A.S.Rao)
Chief General Manager-in-Charge

Encl: As above


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