Customer Intro. In Bank
This query is : Resolved
CA. Abhishek K. Pandey
(Querist)
11 April 2011
What is the importance of intro. of a customer to bank by an existing customer and why it is done?
RAMESH KUMAR VERMA
(Expert)
11 April 2011
Any resident Indian collecting or remitting such payments outside India is liable to be proceeded against with, for contravention of FEMA and violation of regulations relating to Know Your Customer (KYC) norms and Anti Money Laundering (AML) standards.
MORE INFORMATION :-
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/MCKYCC010709.pdf
MORE INFORMATION :-
https://rbidocs.rbi.org.in/rdocs/notification/PDFs/MCKYCC010709.pdf
CA. Abhishek K. Pandey
(Querist)
11 April 2011
I just want to know. That are there any kind of risks associated with introducing a person to bank? What, in case you actually don't know him?
RAMESH KUMAR VERMA
(Expert)
11 April 2011
as per above said instruction given by RBI there are risk .
first , bank will not open the account, in the violation of rbi instructions.
first , bank will not open the account, in the violation of rbi instructions.
CA. Abhishek K. Pandey
(Querist)
11 April 2011
Risk to the introducer or bank??
RAMESH KUMAR VERMA
(Expert)
13 April 2011
GENERALLY BOTH.
CA. Abhishek K. Pandey
(Querist)
13 April 2011
Ok. Thanks Sir.
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