November 24, 2014
All Payment System Providers, System Participants
and Prepaid Payment Instrument Issuers
Simplification of Know Your Customer (KYC) Norms – Creating Public awareness
Please refer to our circulars/instructions issued from time to time on the captioned subject. In this regard, we enclose a copy of circular DBOD.AML.No.3356/14.01.001/2014-15 dated September 4, 2014 issued by Department of Banking Operations and Development, Central Office, on the same.
2. The Payment System Operators may note the contents of the circular regarding creating public awareness about simplification of KYC norms. They may initiate steps to create awareness regarding the poster and booklet indicated therein and ensure strict adherence to the instructions in the circular.