Customer Intro. In Bank

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CA. Abhishek K. Pandey

CA. Abhishek K. Pandey (Querist)
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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

RAMESH KUMAR VERMA (Expert)
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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 :-

http://rbidocs.rbi.org.in/rdocs/notification/PDFs/MCKYCC010709.pdf

CA. Abhishek K. Pandey

CA. Abhishek K. Pandey (Querist)
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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

RAMESH KUMAR VERMA (Expert)
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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.

CA. Abhishek K. Pandey

CA. Abhishek K. Pandey (Querist)
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11 April 2011 Risk to the introducer or bank??

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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13 April 2011 GENERALLY BOTH.

CA. Abhishek K. Pandey

CA. Abhishek K. Pandey (Querist)
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13 April 2011 Ok. Thanks Sir.

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