EC No. 236 /DoS-36 /2020
07 September 2020
Ref. No. NB. DoS. HO. Pol. /2014 /ENSURE /J-177 / 2020-21
The Chairman, All RRBs
The Managing Director, All State Cooperative Banks
The Managing Director/Chief Executive Officer, All Central Cooperative Banks
Know Your Customer (KYC) Directions, 2016-Revision of returns in ENSURE Portal
1. Please refer to our circular No. NB. DoS. HO. Pol./1462/J-1/2017-18 dated 12 July 2017 wherein banks were advised to submit a set of two returns, viz., “KYC Statistics” and “KYC Directions- Status of Compliance” through ENSURE portal. These returns were being uploaded on a quarterly basis within 15th day from the end of every quarter.
2. As you are already aware, India is a member of Financial Action Task Force (FATF) which is a global body framing the Anti-Money Laundering/ Counter Financing of Terrorism related standards. These standards also guide the KYC/AML/CFT framework in India. India is scheduled to undergo Mutual Evaluation (ME) Exercise by FATF the ensuing year. NABARD is a member of the Joint Working Group and is required to report on compliance on KYC/AML/CFT related matters.
3. Towards this end, it has been decided to modify the existing KYC/AML/CFT returns. Banks are now required to upload five returns focusing on the steps taken by banks with regard to Anti-Money Laundering and Counter Financing of Terrorism in addition to implementation of KYC related guidelines/instructions.
4. The list of five returns are as under:
i. KYC-I: KYC Directions - Status of Compliance – existing return has been modified.
ii. KYC II: AML/CFT – new return
iii. KYC III: Legal and AADHAAR Status – new return
iv. KYC IV: KYC Statistics (live since 30 June 2017; frequency: quarterly)
v. KYC V: Training on KYC/AML/CFT (live since 31 March 2020, frequency: yearly)
The frequency of submission is furnished in the Annexure.
5. In light of the above, we advise you to ensure submission of all the prescribed returns on an ongoing basis as detailed in the Annexure.
6. Please acknowledge receipt of this circular to our Regional Office concerned.
Chief General Manager