Amendment to Master Direction (MD) on KYC – Procedure for Implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967

Last updated: 24 March 2021

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The Reserve Bank of India has issued an amendment to its Master Direction on KYC. This update aligns with a revised order from the Ministry of Home Affairs concerning the implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967. Regulated Entities must now follow the new procedures, which come into effect immediately.

Reserve Bank of India RBI/2020-21/110 DOR.AML.REC.48/14.01 .001/2020-21 March 23, 2021 The Chairpersons/ CEOs of all the Regulated Entities Dear Sir/Madam, Amendment to Master Direction (MD) on KYC Procedure for Implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967 Please refer to Chapter IX (Requirements/obligations under International Agreements Communications from International Agencies) of theMaster Direction on KYC dated February 25, 2016.In te

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FAQ :

The amendment updates the Master Direction on KYC to reflect a revised order from the Ministry of Home Affairs regarding the implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967.

Sections 52 and 54 of the Master Direction on KYC dated February 25, 2016, have been amended.

Section 54 has been amended to state that the list of Nodal Officers for UAPA is available on the website of the Ministry of Home Affairs.

These changes come into force with immediate effect.

The Ministry of Home Affairs' revised order dated February 2, 2021, supersedes the earlier order dated March 14, 2019.

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Notification No : RBI/2020-21/110 DOR.AML.REC.48/14.01 .001/2020-21
Published in Community & General
Source : https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=12042&Mode=0

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