Prevention of Money-laundering Amendment Rules, 2010 - Obligation of banks - Community & General

Prevention of Money-laundering Amendment Rules, 2010 - Obligation of banks

RBI/2010-11/133

RPCD.CO RRB.AML.BC.No.14 /03.05.33(E)/2010-11

July 23, 2010

The Chairmen

All Regional Rural Banks (RRBs)

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) Second Amendment Rules, 2010 - Obligation of banks.

Government of India vide its Notification No. 10/2010-E.S/F.No.6/8/2009-E.S. dated June 16, 2010, 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 information and necessary compliance.

Yours faithfully

(B.P.Vijayendra)

Chief General Manager

Encls: As above