Mega Offer Avail 65% Off in CA IPCC and 50% Off in all CA CS CMA subjects.Coupon- IPCEXAM65 & EXAM50. Call: 088803-20003

CA Final Online Classes
CA Classes

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Amendment to Master Direction (MD) on KYC – KYC norms for Self Help Groups (SHGs)


 Notice Date : 01 April 2021

Reserve Bank of India

RBI/2021-22/10
DOR.AML.BC.No.1/14.01.001/2021-22

April 1, 2021

The Chairpersons/ CEOs of all the banks

Madam/Sir,

Amendment to Master Direction (MD) on KYC – KYC norms for Self Help Groups (SHGs)

Please refer to Section 43 of the Master Direction on KYC dated February 25, 2016 as amended from time to time, wherein simplified norms for Self Help Groups (SHGs) have been stipulated.

2. In this regard, on a review, it has been decided to amend clause (c) of Section 43 to read as under:

“Customer Due Diligence (CDD) of all the members of SHG may be undertaken at the time of credit linking of SHGs.”

3. The Master Direction on KYC dated February 25, 2016, is hereby updated to reflect the changes effected by the above amendment and shall come into force with immediate effect.

Yours faithfully,

(Thomas Mathew)
Chief General Manager

 

Guest
on 05 April 2021
Notification No : RBI/2021-22/10 DOR.AML.BC.No.1/14.01.001/2021-22
Published in Others
Source : , https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12060&Mode=0










Trending Tags