Sub: 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) Third Amendment Rules, 2010 (the Rules)

The PMLA Rules, 2005 have been amended in 2010 vide Government of India, Gazette Notification (Attached as .pdf file) GSR 980 (E) dated 16th December 2010.

2.            Accordingly, in clause (d) in Rule 2, for the words,

“by the Election Commission of India or any other document as may be required by the banking company or financial institution or intermediary”,

the words,

“Election Commission of India, job card issued by NREGA duly signed by an officer of the State Government, the letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number or any other document as may be notified by the Central Government in consultation with the Reserve Bank of India or any other document as may be required by the banking company or financial institution or intermediary”

has been substituted.

3.             In view of the above, it may be noted that the following documents are appended to Annexure I of the Master Circular 2010 on AML/CFT guidelines, as documents that may be obtained from customers as part of Customer Identification Procedure, for the purposes of identification:

·         job card issued by NREGA duly signed by an officer of the State Government,

·         the letter issued by the Unique Identification Authority of India containing details of name, address and Aadhaar number

4.            Insurers may take note of the above for compliance with immediate effect.

 Sd/-
(R.K. Nair)

Member (F&I)