IDBI BANK/2021-22/01/RBG/BOSPD/01 April 01, 2021

IDBI BANK/2021-22/01/RBG/BOSPD/01 April 01, 2021
To
In charges of Verticals / Departments
Regional and Branch Heads/ JNIBF
IDBI Bank Ltd.
Dear Sir / Madam
Master circular on Know Your Customer (KYC) norms and

Anti-Money Laundering (AML) Measures
Banks around the world are increasingly recognizing the importance of

appropriate controls while entering into a relationship with a prospective client /
customer and during the course of the entire relationship to ensure protection against
possible regulatory, reputation, operational, legal and financial risks. This has assumed
more importance in the light of various International and domestic regulations which
make it compulsory for the banks to comply with international practices in this highly
important area. Besides this, Money Laundering, by supporting undesirable activities
and group of people, has also become a serious problem worldwide, even threatening
the stability of economies.
Reserve Bank of India (RBI) has been regularly revisiting KYC guidelines in the
context Prevention of Money Laundering (PML) Act 2002 & Rules 2005 (PML Rules) and
on Combating Financing of Terrorism (CFT), Aadhaar & other laws . Based on these
recommendations and the experience, RBI has advised banks to have a
comprehensive procedure for customer acceptance, identification, monitoring
transactions of a suspicious nature and risk management. The main objective of the
KYC – AML guidelines is to prevent banks from being used, intentionally or
unintentionally, by criminal elements for money laundering activities.
This Master Circular is a compilation of the instructions contained in various
circulars issued till date as given in the Appendix VII to the extent they deal with KYC
and AML. The instructions issued in the circulars listed in Appendix VII and other circulars
not specifically included in this circular would continue to prevail.
Instructions issued by Statutory Authorities / Government of India / RBI / other

Regulators from time to time shall have pre-eminence over the instructions contained in
this Master Circular.
The contents of the Circular may be brought to the notice of all the staff
members for strict compliance.
Master Circular on Know Your Customer (KYC) and Anti Money Laundering (AML)
Table of Contents
Chapter Para Page
Particulars
No. No. No
I Introduction 1
II Know Your Customer (KYC) 1
1 Customer Acceptance Policy 2
2 Customer Identification Procedure (CIP) 4
2.11 Documentation for Individual Accounts 8
Documentation for Minor Accounts (operated by Guardian –
2.12 13
Natural or Legal) PAN or Form 60 of the Guardian
2.13 Documentation for Minor Accounts (self-operated by Minor) 13
2.14 Documentation for Illiterate Accounts 13
2.15 Documentation for Senior Citizen Account 13
2.16 Documentation for Corporate Payroll account 14
Documentation for Persons with autism, cerebral palsy, mental
2.17 14
retardation, multiple disabilities and mentally ill Person
2.18 Documentation for NRI Accounts Opened through branch 14
Documentation for accounts opened through insta online
2.19 16
(through internet) and documents sent by mail:
Documentation for Acceptance of Self Attested documents in
2.20 16
case of account opening from overseas locations
Documentation for Foreign Nationals who come to the country
2.21 17
for Studies
Documentation for Foreign Nationals who come to the country
2.22 18
for Employment
Documentation for Nepali Nationals coming to India for
2.23 18
Employment
2.24 Documentation for HUF Accounts 19
Documentation for Registered TASC (Trusts, Associations,
2.25 19
Societies and Clubs)
Documentation for Unregistered Associations, Unincorporated
2.26 20
Association of Persons, Societies and Clubs.
2.27 Documentation for Self Help Groups (SHGs) 20
2.28 Documentation for Sole Proprietorship 21
2.29 Documentation for Partnership Accounts 22
Documentation for One Person Co/Private Limited/Public
2.30 22
Limited companies
2.31 Documentation for Unincorporated Joint Ventures (UJV) 24
2.32 Documentation for Limited liability Partnerships (LLP) 25
2.33 Basic Savings Bank Deposit Account (BSBDA) 26
2.34 Documentation for Gift Cards (Prepaid Cards) and Travel Cards 27
2.35 Documentation for Banks’ Accounts 27
2.36 Documentation for Government Accounts 28
2.37 Documentation for Mandate / POA Holder 28
2.38 ESCROW Account 28
II
2.39 Deviations/approvals 29
(A) Transaction Monitoring - Indicative Alert Indicators 29
3 (Transaction Based)
(B) Indicative Alert Indicators- Behaviour based 31
4 Risk Management 31
5 Periodic updation of Customer Identification Data (CID) 32
Record Management - Obligations under prevention of Money
III
Laundering Act (PMLA) 2002
1 Maintenance of records of transactions 35
2 Information to be preserved 36
3 Maintenance and Preservation of record 37
4 Reporting to Financial Intelligence Unit – India 37
IV Suspension and reactivation of suspended Customer Ids 38
V General Check Points for Account Opening 38
VI Conclusion 41
List of Annexure
Annexure Page
Particulars
No No
I Customer Profile Format (Individuals) 42
II Customer Profile Format (Non Individuals) 43
Customer Declaration for submitting Aadhaar linking/ seeding Aadhaar
III 44
number and receiving DBT benefits into the Bank account
IV Self-Declaration by Senior Citizen 45
Self-declaration for current address proof from such customers whose
V 46
address as per Aadhaar and Account Opening Form differs
Customer Declaration for Translation of Documents that are in Foreign
VI 47
Language
Branch Official Visit Report for Field Verification of Indian Address of NRI
VII 48
Client
Format for Self Declaration for Local / Correspondence Address
VIII 49
(Applicable only for Nepali Nationals Coming to India for Employment)
IX Branch Official Visit Report (BOVR) 50
Questionnaire for Know Your Customer / Anti Money Laundering /
X 51
Combating Financing of terrorism for Cooperative Banks
XI Format of Letter to Cooperative Bank At Par Cheque Facility 54
XII Mandate Letter 55
XIII CID Self Certification Individual 56
XIV Customer Information Updation Form for KYC 56
XV Specimen of Notice to be given to the Customers 57
III
List of Appendix
Appendix Page
Particulars
No No
I Risk Categorization of Customers 57
II List of Members of Financial Access Task Force (FATF) 59
Indicative Alert Indicators for Commercial Banking / Trade Finance /
III 60
Shell companies / NGO/FCRA/ Demat / Third party products
IV RBI Directions on VKYC and Detailed process on VKYC 72
V List of Circulars consolidated in Master Circular 75
IV
CHAPTER - I
Introduction
A. This master circular is an attempt to present the operational guidelines and

instructions relating to KYC and AML in a simpler and tabular form for easy
understanding of branches.
B. The objectives of KYC & AML are –
1. To enable the Bank to know / understand its customers and their financial
dealings better and manage risk prudently.
2. To prevent the Bank from being used, intentionally or unintentionally, by
criminal elements for money laundering or terrorist financing activities;
3. To protect the Bank’s reputation;
4. To prevent Bank’s channels /products/services from being used as a
channel for money laundering;
5. To protect the Bank, its employees and customers from the menace of
money laundering or terrorist financing activities;
6. To adhere to KYC & AML policies and procedures as advised by RBI and
other regulators
7. To take appropriate action once suspicious activity is detected and report
to designated authorities in accordance with applicable laws / laid down
procedures and regulatory guidelines;
CHAPTER - II
Know Your Customer (KYC)
Know your customer is important aspect in terms of legislative and Regulatory

requirements. Knowing a customer is not just simply completing the on boarding
process based on certain documents. It is about knowing, understanding and
accepting of the prospective customer, his profile, his business activities, transactions
and thereafter taking decision to start a banking relationship. After the account is
opened, it also means monitoring the transactions in the account and taking
appropriate action in terms of existing legal and Regulatory guidelines. In addition to
the above KYC also means:
• Making every reasonable effort to determine the true identity and beneficial
ownership of accounts.
• Knowing the source of funds.
• Knowing the correct location, address and nature of customer’s business.
• Knowing what constitutes reasonable account activity.
• Knowing who are Customers’ customers
•
A. For the purpose of KYC, a ‘Customer’ is defined as :

1. A person who is engaged in a financial transaction or activity with the
Bank and includes a person on whose behalf the person who is engaged
in the transaction or activity, is acting.
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2. A ‘Beneficial Owner’ (BO). Procedure to identify BO in different types of

accounts. Complete Process listed in Retail Banking Manual.
3. Beneficiaries of transactions conducted by Professional Intermediaries,
such as Stock Brokers, Chartered Accountants, Solicitors etc. as permitted
under the law, and
4. Any person or entity connected with a financial transaction that can
pose significant reputation or other risks to the Bank, say, a wire transfer or
issue of a high value demand draft as a single transaction.
B. Following are the key elements to the KYC guidelines, which would help in
understanding the customers properly -
1. Customer Acceptance Policy (CAP);
2. Customer Identification Procedures (CIP);
3. Monitoring of Transactions;
4. Risk Management; and
5. Regular Updation of Customer Identification Data (CID)
1. Customer Acceptance Policy (CAP)

1.1 Bank cannot enter into relationship with any customer unless he / she fulfil the
criteria as elaborated below for acceptance as a customer. Customer
Acceptance basically means having knowledge and understanding about the
clients, its owners, managers and those responsible for its governance and
business activities. It also assumes greater importance as appropriate risk
categorization needs to be worked out for each customer based on the
various parameters, so that proper due diligence can be carried out while
entering into relationship and during the course of relationship. It has to be
kept in mind that the guidelines are not meant for having discriminatory
approach to customers and it should be ensured that the customers shall not
be put to any harassment whatsoever either by its adoption or by its practice. It
is important to bear in mind that the adoption and practice of these criteria
must not result in denial of banking services to general public, especially to
those, who are financially or socially disadvantaged. By applying a Customer
Acceptance Policy which is well-balanced, caring, practical, and yet
complying with regulatory requirements, the Bank seeks to ensure the following:
a. No account shall be opened in an anonymous or fictitious / benami name.
b. No account shall be opened if Bank is unable to apply appropriate customer
due diligence measures i.e. Bank is unable to verify the identity and / or obtain
documents required as per the risk categorization due to non-cooperation of
the customer or non-reliability of the documents / Information furnished to the
Bank. Existing accounts where Bank is unable to apply appropriate customer
due diligence measures as above shall be closed (refer Para 5.7).
c. Before opening a new account, necessary checks shall be conducted so as to
ensure that the identity of the customer/entities/persons associated with the
entities does not match with any person with known criminal background or
with banned entities such as individual terrorists or terrorist organizations etc.
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d. While carrying out due diligence it shall be ensured that there is no harassment
to the customer. Only relevant information shall be obtained from the customer
for the purpose of risk categorization at the time of account opening.
e. Risk perception of different types of customers taking into account the
background of the customer, nature of business activity, location of customer /
activity and profile of his / her clients, country of origin, sources of funds, mode
of payments, volume of turnover, social and financial status etc., needs to be
decided based on the information provided by the customer at the time of
account opening. Branches shall obtain the relevant information at the time of
opening of account about the customer to create a Customer Profile available
in Account Opening Form as per the format given in Annexure I meant for
individual and in Annexure II meant for non-individuals and categorize the
customer into Low Risk (Level 1), Medium Risk (Level 2) or High Risk (Level 3)
f. Along with the risk category, branches should also specify in the AOF /
Customer Profile Sheet, the Alpha Numeric Code as listed in Appendix I so that
the same can be captured in Finacle at the time of account opening. RPUs
should capture in Finacle the Alpha Numeric Code of risk categorization of any
customer as furnished by the Branches / Verticals while opening the Customer
ID.
g. Branches are expected to use their own judgement in arriving at the
categorisation for each account based on their own assessment and risk
perception of the customers and not merely based on any group or class they
belong to. For better understanding of risk categorization branches should
understand that, prospective customers such as High Net Worth Individuals,
Non Resident Indians, Sole Proprietary concerns, Partnership Concerns should
not be categorized merely based on a particular group or class they belong to
(and without actually looking in totality of the proposed relationship) which is
not appropriate and intended. Some examples of improper classification by
branches is illustrated below for reference:
(i) All Non Resident Indians (NRI) are by default being classified by branches
as High Risk. While a Non Resident Indian of, say, a country like Albania
(country classified as High Risk and not included as member by Financial
Access Task Force (FATF) may possess a High Risk, another NRI from a country
like USA may possess Medium Risk.
(ii)Similarly a prospective customer being a Sole Proprietary concern dealing
in groceries may represent a medium risk, while a Sole Proprietary concern
dealing in Gems and Jewellery (precious goods) may represent a High risk.
h. Presently, at the time of customer on boarding, customer risk categorization is
being carried out by branches manually and assigns risk level code based on
the basic details. However, it is observed that in most of the cases branches
are resorting to assigning RL Codes without adhering to the Bank’s policy on
KYC norms and AML measures. In order to bring out uniformity in assigning the
risk level codes for Individual customers and also to have holistic view of Risk
Composition of the Bank, Risk profiling process has been automated to assign
the, appropriate risk level code to the customer through Customer Risk
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Calculator (i-Risk Calculator) with effect from January 11, 2021. i- Risk
Calculator is a comprehensive application and enabled with basic features
required for risk calculation of customer. Details of Risk parameters and
Standard operating Procedure (SOP).
i. The customer profile is a mandatory requirement and should accompany the
Account Opening Form (AOF). The Customer profile is a confidential document
and shall not be divulged to anyone outside the Bank.
j. The CAP exercise should also include acceptance of Related Persons i.e.,
Director, promoter, Karta, Trustee, Partner, court appointment official,
Proprietor, Beneficiary, Authorised Signatory, Beneficial Owner (BO), Power of
Attorney Holder (PAH), Mandate Holder (MH), others etc., relating to the
proposed account and their details should be captured in Core Banking
Software (CBS).
k. For other account opening forms the KYC verification powers has been
delegated as under:
Branches KYC to be certified by

Headed by
Grade A, B Branch Head
Grade C SOM in Grade B or Any Other Grade B Officer
Grade D SOM in Grade B or Any Other Grade B Officer or above.
All Branches Branch Head for High Risk and Business Banking Customers.
l. Branch Head shall ensure that accounts are strictly monitored as per the
guidelines of the Bank.
2. Customer Identification Procedure (CIP)
2.1 Traditionally banks have been identifying their customers through a system of
introduction. With the advent of technology, availability of documents
supporting Identity Signature and Address (ISA) for most of the individuals, and
with the increasing movement of banking population across geography there is
a compulsion to migrate to a paper based identification of clients. Although
Customer Acceptance criteria gives knowledge and understanding about a
customer, his / her identity has to be verified by using reliable, independent
source documents, data or information. Introduction shall not be sought while
opening accounts. Signature in presence in Branch official as per the KYC
verification powers as stated in para j above shall suffice for the signature proof
purpose, except in case of opening Small accounts.
2.2 Sufficient information needs to be obtained to the satisfaction of the Bank,

which is necessary to establish, the identity of new customer, whether regular or
occasional, and the purpose of the intended nature of banking relationship.
Satisfaction means to be able to satisfy the Competent Authorities that due
diligence was observed based on the risk profile of the customer in compliance
with extant guidelines in place. It is important to understand that the CIP does
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not start and end at the point of application. As per the risk profile of the
customer as described in Customer Acceptance Policy, appropriate Customer
Due Diligence (CDD) measure has to be undertaken to collect and verify
information and positively and conclusively establish the identity of a customer.
2.3 The CIP exercise should also include identification of Beneficial Owner, Power
of Attorney Holder, Mandate Holder, Related Person etc., relating to the
proposed account and their details should be captured in Core Banking
Software (CBS).
2.4 CIP needs to be carried out in the following cases: -

a. Commencement of an account-based relationship with the customer
b. Carrying out any international money transfer operations for a person who
is not an account holder of the bank.
c. When there is a doubt about the authenticity or adequacy of the
customer identification data obtained.
d. Selling third party products as agents, selling their own products, payment
of dues of credit cards/sale and reloading of prepaid/travel cards and
any other products for more than Rs.50,000/- for individuals and entities
whose valid KYC details is not already available with the Bank.
e. Carrying out transactions for a non-account based customer ie Walk-in
Customer (purchase of demand draft, prepaid card, selling of third party
products, purchase of foreign exchange), that is a walk-in-customer,
where the amount involved is equal to or exceeds Rs.50,000/-, whether
conducted as a single transaction or several transactions that appear to
be connected.
f. When bank has reason to believe that a customer (account-based or
walk-in) is intentionally structuring a transaction into a series of transactions
below the threshold of Rs.50,000/-
2.5 For customers that are natural persons, sufficient identification data shall be
obtained to verify -
a. The identity of the customer,
b. His / her address / location
c. His / her recent colour photograph and signature proof
2.6 For customers that are legal persons or entities –

a. Legal status of the legal person / entity through proper and relevant
documents shall be verified;
b. It shall be verified that any person purporting to act on behalf of the legal
person / entity is so authorized and identify and verify the identity of that
person;
c. The ownership and control structure of the customer shall be understood
so as to determine who are the natural persons who ultimately control the
legal person.
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2.7 While opening the account of the customer or during periodic updation, Bank
shall seek ‘mandatory’ information required for KYC purpose and for risk
categorisation, which the customer is obliged to give. After the account is
opened Bank may seek separately, other ‘optional’ details/additional
information from the customer on his/her explicit consent.
2.8 Although customer has to be identified by using reliable, independent source

documents, data or information, to have uniformity; Bank has prescribed
certain documentation as per the present KYC policy, which will help in
establishing the genuineness of the customers. It is essential to establish the
Identity, Signatures and Address (ISA) of the customer before the Bank decides
to open an account. Establishment of ISA shall be done by obtaining
documents as listed in Table-A &B below.
a. The table gives the documents that can be taken and a “Yes” against it
indicates the purpose for which it is to be obtained. Various important aspects /
procedures which need to be checked / followed while opening an account
are incorporated in the checklist given below the table- A.
Table – A Acceptability as Proof for

S.No. Document Acceptable as Proof for Identity Signature Mailing
Address
(I) (S) (A)
1 Mandatory Documents
Yes Yes No
a PAN Card /Form 60 (except for Small accounts (Pan (Pan
opened under RSBA3 scheme code) Card Card
only) only)
b Latest Coloured Photograph -
2 Officially Valid Documents - OVD (certified copy of
OVD to be obtained)
a Passport Yes Yes Yes
b Election ID / Voters’ ID card Yes - Yes
c Driving License (#only for smart card) Yes Yes# Yes
d NREGA job card Yes - Yes
e Letter issued by National Population Register(NPR) - - Yes
f Proof of Possession of Aadhaar
(i) Aadhaar Letter/ Card* Yes Yes
(ii) Downloanded Aadhaar (E-Aadhaar) Yes - Yes
(iii) Aadhaar Secure QR Code Yes Yes
(iv)Aadhaar Paperless offline e-KYC - Yes
*Mandatory in case customer is desirous of receiving any benefit or subsidy
under any scheme, a declaration (as per Annexure-III) shall be obtained and
authentication shall be carried out in such cases.
Branches / RPU to ensure that the first 8 digits of Aadhaar are blacked out while
storing the physical copy of Aadhaar along with Account Opening forms.
3 If address Proof is not available in above listed OVD at 2 (a to f) above, then
following documents shall be accepted as Address proof, subject to the
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condition that, the customer needs to submit OVD within 3 months of account
opening.
a. Utility Bill which is not more than two months old of any service provider
(Electricity, Telephone, Post- Paid Mobile Phone, Piped Gas, Water Bill)
b. Property or Municipal Tax Receipt
c. Pension of Family Pension Payment Orders (PPO) issued to retired employees by
Government Departments or Public Sector Undertakings if they contain
address.
d. Letter of allotment of accommodation from employer issued by State or
Central Government Departments, Statutory or Regulatory Bodies, Public Sector
Undertakings, Scheduled Commercial Banks, Financial Institutions and Listed
Companies. Similarly Leave and License Agreements with such employers
allotting official accommodation.
4 Other Documents for Signature Proof.
Self-signed cheque in case of Individual / Proprietorship/ Partnership/ Pvt Ltd/
a.
Public
Signature in presence of Branch Official (Subject to production of documents
b.
supporting Identity and Address). Refer para 2.1 above
Identity card with applicants photograph issued by Central / State
c. Government Department, Statutory / Regulatory Authorities, Public Sector
Undertakings, Scheduled Commercial Banks and Public Financial Institutions.
Documents for Age Proof for Minor and Senior Citizen (if the Documents
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provided as above does not give the Age of the Minor / Senior Citizen)
(a) Birth Registration certificate,
(b)Passport,10th or 12th Mark sheet,
(c) School Leaving Certificate,(d) Report card showing DOB,
(e) School ID card with Photo & DOB mentioned,
(f) PAN Card, (g) Driving Licence,
(h) Pension Payment Order,
(i) Government ID Card,
(j) Life Insurance Policy(live),
(k) Voters Identity card and
(l) An Affidavit-cum-indemnity (Self declaration of date & place of birth) before
a Magistrate. Branch should resort to this option only as a last resort after
satisfying that the prospective customer does not have any one of the
documents mentioned above as age proof for a senior citizen (format given in
Annexure IV).
Table - B
S.No. Document Acceptable as Proof for Address from Entities other than Sole
Proprietary concerns.
1. Any certificate issued for Registration:
i. Registrar of Firms / Companies
ii. Labour Commissioner
iii. Professional Tax authorities
iv. License issued by Rubber Board / Spices Board / Tea Board / Coffee
Board / Coir Board / Tobacco Board / Notional Jute Board / Pollution
Control Board./ Recognized Provident Fund with PF commissioner
v. License issued by Agriculture Produce Marketing Committees (APMC) /
Gramin Mandis / KVIC.
vi. Liquor Licence issuing authorities
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vii. Excise & Customs Dept

viii. Drug Control Authorities
ix. Weight & Measurement Dept
x. Certificate issued by RBI/ SEBI/IRDA/ICAI/ICSI/ICWAI/ ESIC
xi. Trade Licenses
xii. License issued by Contract Labour (Regular & Abolition) Act 1970
xiii. Licenses issues by Insecticide/ Pesticide Dept
xiv. Regional Transport Office Permit / Registration Certificate
xv. State / Central Pollution Control Board
xvi. Sales Tax Registration / GST /CST / VAT /Service Tax / Profession Tax
Registration Certificate.
xvii. Valid Shops & Establishment Certificate
xviii. Certificate Issued by SEZ(Special Economic Zone), STP(Software
Technology Park), EHTP(Electronic Hardware Technology park),
DTA(Domestic Tariff Area) and EPZ (Export Processing Zone)
xix. Importer–Exporter Code Certificate
xx. Indian Medical Council
xxi. Employee Provident Fund Organization.
xxii. Municipal Corporation/Local Self Government Bodies confirming
address of the firm.
xxiii. District Industries Center (DIC)/ Small Scale Industries (SSI) Certificate
2. i. Letter/certificate issued by Village Administrative officers/ Panchayat
Head/Mukhiya/ Village Development Officer/ Block Development
Officer for customers in rural/village areas (should be on letterhead and
not more than 3 month old), should be numbered mentioning the Entity
Name and ownership details.
ii. Letter or Certificate (should be on letterhead and not more than 3
month old) confirming existence of business issued by
Chairman/President/CEO/ Head of the Nagar Panchayat/Parishad, and
not by local councilors/corporators
3. Last available Income/Wealth Tax Assessment order in the name of firm. Latest
Income Tax Return duly acknowledged (in the name of the Company).
4. Latest property tax / Water tax bill / Utility bill or receipt in the name of the
Company issued by local government authorities or the service provider (not
prior to 2 months). In case of telephone bill the bill needs to be for a landline
connection.
2.9 Aadhaar can be accepted as a voluntary identity document, subject to the

first 8 digits of the Aadhaar number are blacked out or redacted. Branches / RPU
should ensure that the first 8 digits of Aadhaar are blacked out while storing the
physical copy of Aadhaar along with Account Opening forms.
2.10 PAN of the authorised signatories in non- individual accounts should be

updated in finacle through menu option IBNKADTL. This should be done by RPU at
the time of on-boarding a relationship / updating the client profile.
2.11 Documentation for Individual Accounts:

a) From an individual who is going to establish an account based relationship where
he/she is desirous of receiving any benefit or subsidy under any scheme notified
8
under Section 7 of Aadhaar (Targeted delivery of Financial & other subsidies,

Benefits & Services) Act, 2016 (18 of 2016)
i. PAN or Form 60 and
ii. Proof of possession of aadhaar with eKYC verification mandatory
iii. Signature Proof
iv. One latest coloured Photograph
v. Branches may not insist on photograph or any other OVD in cases where
successful authentication has been carried out using Aadhaar.
Bank at the receipt of Aadhaar number for above cases shall carry out
authentication of the customer’s Aadhaar number using e-KYC authentication
facility provided by the Unique Identification Authority of India upon receipt of
customer’s declaration that he / she is desirous of receiving any benefit or subsidy
under any scheme notified under Section 7 of the Aadhaar.
Provided further that in case biometric e-KYC authentication cannot be performed

for an individual desirous of receiving any benefit or subsidy under any scheme
notified under section 7 of the Aadhaar (Targeted delivery of Financial & other
subsidies, Benefits & Services) Act, 2016 owing to injury, illness or infirmity on account
of old age or otherwise, and similar causes, bank shall apart from obtaining the
Aadhaar number, perform identification preferable by carrying out offline
verification or alternatively by obtaining the certified copy of any other OVD from
the customer. CDD done in this manner shall invariably be carried out by an official
of the bank and such exception handling shall also be part of concurrent audit.
Bank shall ensure to duly record the cases of exception handling in a centralized
exception database. The database shall contain the details of ground of granting
exception, customer details, name of the designated official authorizing the
exception and additional details, if any. The database shall be subjected to periodic
internal audit / inspection by the Bank and shall be available for supervisory view.
(b) From an individual who is going to establish an account based relationship

where he is not desirous of receiving any benefit or subsidy under any scheme
notified under Section 7 of Aadhaar (Targeted delivery of Financial & other subsidies,
Benefits & Services) Act, 2016 (18 of 2016) :
ii. Certified copy of any one of the OVDs containing details of Identity and
Address
iii. Signature Proof
Bank shall carry out Aadhaar authentication / offline- verification of an individual

who voluntarily uses his Aadhaar number for identification purpose.
Consequent to issuance of Notification No: G.S.R.804 (E) dated November 13, 2019
by Ministry of Finance, Government of India (GoI), Reserve Bank of India (RBI) has
updated their Master direction on KYC. Accordingly, RBI has now advised that
“where a customer has provided his Aadhaar number under para a & b above for
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identification and wants to provide a current address, different from the address as
per the identity information available in the Central identities Data Repository, he
may give a self-declaration to that effect to the Bank”.
Accordingly, branches are advised to accept self-declaration as per Annexure- V

from such customers whose address as per Aadhaar and Account Opening Form
differs. In such cases, an Officer of the Branch shall undertake contact point
verification (BOVR) of the address given in the AoF and Branch Head shall confirm
and satisfy about the fact that current address has been verified.
As per Reserve Bank of India (RBI), Master Direction No: RBI/ 2019-20/ 138/ DOR. AML.
BC. No. 27/ 14.01.001/2019-20 dated January 09, 2020, Customer Identification
Process (CIP) can also be carried out for on boarding customers through Video KYC
authentication (VKYC). To allow individuals to open accounts from the comforts of
their home through Contactless and paperless mode, the Bank has operationalized
V-CIP or commonly known as Video KYC or VKYC with effect from October 01, 2020.
Under VKYC, an individual is on boarded by completing the account opening
formalities online and KYC certification through video session, without any need for
him to visit any branch of the Bank and to meet any employee of the Bank in
person. On boarding customer through VKYC is the fastest method opening an
account with full KYC contactless and paperless. For this purpose, the customer
should have PAN and Aadhaar which will be validated through OTP followed by Live
Video session with the Bank Employee. At present only few limited scheme codes
are made available for on boarding individual customer for opening single
operated account.
The mandatory requirements for on boarding customer through VKYC are:
• He should not be an existing customer of the bank,
• He should possess a valid aadhaar, mobile number should be linked to
aadhaar,
• PAN and email id.
VKYC process is divided into 3 stages, on completion of the below stages, the
account is fully operational / ready for use for customer.
Stage 1- Customer Details
• Customer accesses a VKYC link on Mobile/ desktop.
(This link/QR code is available on Bank’s web site /social media and can
also be shared by branches with prospective customer)
• The customer fills in the basic details as per the data available in the PAN
and Aadhaar.
• Customer’s mobile number, email id and aadhaar are verified through
OTP based authentication.
• After filling up the necessary information in the application, Customer can
schedule for an online VKYC session with the Bank employee as per his /
her convenience.
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Stage 2 : VKYC with the Bank Employee

The Bank employee will invoke a video session with the customer Aadhaar
details of the customer are verified ie aadhaar address, aadhaar photo is
matched with the live photo captured during the session. PAN copy is
captured during the video session and is verified with PAN verifying
authority records. Details of name as per Aadhaar & PAN are verified.
Signature of the customer is captured during the video session. Liveliness
of the customer is checked by invoking certain basic questions. On
successful verification of the KYC of customer through video session,
customer video session is completed and submitted for verification.
Stage 3 : Audit Session
• Document Verification Unit (DVU) at RPU does the audit of the VKYC
session in the VKYC application, on successful verification, the application
is forwarded to RPU for opening of the account in finacle.
• Account no. and customer ID is advised to the customer over SMS.
• Other collaterals such as cheque book, debit card, net banking activation
etc. are done as per the customer’s request.
RBI guidelines on VKYC and detailed internal process on VKYC are provided at
Appendix IV
(c) Documentation from an Individual who is a beneficial owner:

i. PAN or Form 60
ii. Certified copy of any one of the OVDs containing details of Identity and
Address
iii. Signature Proof and
(d) Documentation from an Individual who is a Manager, Officer, or other employee,

or Authorized Signatory as the case may be, holding an attorney to transact on
behalf of a legal entity:
ii. One latest coloured Photograph and
iii. Signature Proof and
iv. Certified copy of any one of the OVDs containing details of identity and
Address
(e) In Case an Individual is a prisoner in Jail:

i. Pan or Form 60 and One latest coloured Photograph and
ii. Signature /Thumb print in the presence of the Officer in-charge of the jail
and the said officer shall certify the same under his signature.
iii. The account shall remain operational on annual submission of certificate
of proof of address issued by officer in-charge of the jail.
(f) In case an individual customer who does not possess any identity & address
document as stated in Table above and desires to open a bank account, banks
shall open a ‘Small Account’, which entails the following limitation:
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(i) The aggregate of all credits in a financial year does not exceed rupees one
lakh
(ii) The aggregate of all withdrawals and transfers in a month does not exceed Rs
10000/- and
(iii) The balance at any point of time does not exceed rupees fifty thousand.
Provided,
i. The branch shall obtain a self-attested photograph from the customer.
ii. The Branch Head certifies under his signature that the person opening the
account has affixed his signature or thumb impression in his presence.
iii. Such accounts shall not get any credit of Foreign remittance.
iv. Branch shall ensure that the stipulated monthly and annual limits on
aggregate of transactions and balance requirements in such accounts
are not breached, before a transaction is allowed to take place.
v. The account shall remain operational initially for a period of twelve months
which can be extended for a further period of twelve months, provided
the account holder applies and furnishes evidence of having applied for
any of the OVDs during the first twelve months of the opening of the said
account.
vi. The entire relaxation provisions shall be reviewed after twenty four months.
vii. The account shall be monitored and when there is suspicion of money
laundering or financing of terrorism activities or other high risk scenarios,
the identity of the customer shall be established as per existing process.
Small accounts are opened under retail scheme code RSBA3, under Financial
inclusion such accounts are opened with scheme code RSFIN, RSFNG, RSFRN and
RSFKK, branches should monitor such accounts and all such small accounts non-
KYC compliant even after 12/24 months are required to be frozen after sending
required notices to the customer. Monitoring of small accounts through various
report checking is provided in Master Circular on Generation, Checking and
Preservation of Reports.
(g) Non Face to Face Customers: Accounts opened using OTP based e-KYC, in
non-face to face mode are subject to the following conditions:
i. There must be a specific consent from the customer for authentication

through OTP
ii. The aggregate balance of all the deposit accounts of the customer shall
not exceed Rs 1 Lakh. In case, the balance exceeds the threshold, the
account shall cease to be operational, till CDD as required for individual
customers is complete.
iii. The aggregate of all credits in a financial year, in all the deposit taken
together, shall not exceed Rs 2 lakhs.
iv. As regards borrowal accounts, only term loans shall be sanctioned. The
aggregate amount of term loans sanctioned shall not exceed rupees sixty
thousand in a year.
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v.Accounts, both deposit and borrowal, opened using OTP based e-KYC
shall not be allowed for more than one year within which Biometric based
e-KYC authentication is to be completed.
vi. If the CDD procedure as mentioned above is not completed within a
year, in respect of deposit accounts, the same shall be closed
immediately. In respect of borrowal accounts no further debits shall be
allowed.
vii. A declaration shall be obtained from the customer to the effect that no
other account has been opened nor will be opened using OTP based KYC
in non- face to face mode with any other RE. Further, while uploading KYC
information to CKYCR, Bank shall indicate that such accounts are opened
using OTP based e-KYC and other REs shall not open accounts based on
the KYC information of accounts opened with OTP based e-KYC
procedure in non- face to face mode.
viii. Bank shall have strict monitoring procedures including systems to generate
alerts in case of any non-compliance/violation, to ensure compliance with
the above mentioned conditions.
These accounts are now being opened under scheme code RSMOB in the Bank.
2.12 Documentation for Minor Accounts (operated by Guardian – Natural or Legal)
i. Pan or Form 60 of the Guardian

ii. Latest coloured Photograph of Guardian
iii. Certified copy of any one of the OVDs containing details of identity &
address of guardian
iv. Age Proof of Minor
v. Signature Proof of the guardian
2.13 Documentation for Minor Accounts (self-operated by Minor)
i. Latest coloured Photograph of Minor

ii. PAN or Form 60 of the Minor
address of Minor
iv. Age Proof of Minor
v. Signature Proof of the Minor
2.14 Documentation for Illiterate Accounts

i. PAN or Form 60
ii. Certified copy of any one of the OVDs containing details of identity &
address
iii. Latest coloured Photograph of Individual
2.15 Documentation for Senior Citizen Account

i. PAN or Form 60
address
iii. Age proof
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iv. Latest coloured Photograph of Individual

v. Signature Proof of individual
2.16 Documentation for Corporate Payroll account

i. PAN or Form 60 of individual
ii. Latest colour Photograph of Individual
address
iv. Signature Proof of Individual
v. Authentication of the employee by the designated official (employer) in
the AOF with full details like name, designation, Employee ID under seal, or
vi. A separate letter / certificate along with the photograph of the employee
duly signed by the designated official (employer) with full details like
name, designation, Employee ID under seal or
vii. copy of the identity card of the employee duly attested by the
designated official (employer) with full details like name, designation,
Employee ID under seal
Note: In all the above cases (iv, v, vi) where the employer is authenticating the
employee, branch should be aware of and familiar with the competent
authority designated by the corporate / employer to issue such certificate /
letter / introduction and the Branch Head / KYC certifying authorised official
should certify that KYC having been completed as per extant process and
submit the same to RPU for account opening.
2.17 Documentation for Persons with autism, cerebral palsy, mental retardation,
multiple disabilities and mentally ill Person
a. The Guardianship Certificate issued by the Local Level Committees under
the National Trust for the Welfare of Persons with Autism, Cerebral Palsy,
Mental Retardation and Multiple Disabilities Act, 1999 or
b. the Guardianship Certificate issued by District courts and District Collectors
as prescribed under The Mental Health Act, 1987 , in case of Mentally Ill
Person
c. PAN or Form 60 of individual & guardian
d. Latest colour Photograph of individual & guardian.
e. Certified copy of any one of the OVDs containing details of identity &
address of individual & guardian
f. Signature Proof of individual /guardian
g. Joint accounts not allowed
2.18 Documentation for NRI Accounts Opened through branch

i. Proof of Correspondence address needs to be taken for Domestic /
Overseas address of customer. For Overseas Address Proof, any of the
following listed documents shall also be accepted:
• Overseas Utility Bills (should not be more than Two months old).
• Bank Account statement or Pass Book (should not be more than
two months old)
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• Person of Indian Origin (PIO) card or Overseas Citizen of India (OCI)

card containing overseas address of the customer.
ii. Valid passport Mandatory
iii. Valid Resident / Employment / Student visa.
• If the visa is not stamped in the passport (as is the case with some of
the European countries), copy of the resident permit issued by
immigration authorities.
iv. Work Permit / Labour Card (if Applicable)
v. Latest Photograph of individual account holder
vi. In case of Person of Indian Origin (PIO) having foreign passport (which
does not specify the country of origin), copy of PIO or copy of Overseas
Citizen of India (OCI) card issued by Government of India, or copy of past
Indian passport of self / parent/ grandparent should be obtained to
establish the PIO status of the applicant, along with self-declaration for
PIO as given in the account opening form. In case PIO/OCI card is not
available, any other documentary proof to confirm the PIO status of the
customer should be taken such as copy of old Indian Passport or any
document which confirms if Self/Spouse/ Parents/ Grand Parents are
citizen of India.
vii. Customer Declaration for Translation of Documents that are in Foreign
Language as per Annexure VI.
viii. The exit re-entry Visa of clients residing in Saudi Arabia can be used as
proof of Visa copy for opening of NRE accounts of this country. It should
be ensured that the “IQAMA” No. Is mentioned on the Exit / Re-entry Visa
or copy of IQAMA is provided as a supporting documents while opening
NRE/NRO accounts.
ix. Additional documents for persons employed overseas with a foreign
shipping company
• Current work contract or offer letter issued by shipping company. If
the work contract or offer letter is not received, a letter should be
obtained from shipping company confirming the date of sailing.
Employment contract / letter should be on the letter head of the
agent wherein, the overseas address of the shipping company /
airline should be prominently displayed
• Last wage slip
• Continuous Discharge Certificate (CDC)
x. Additional documents for contract employees:
• Last work contract
• Letter from local agent confirming next date of joining the foreign
vessel (not more than six months of date of last return to India)
• Principal's overseas address or current work contract.
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2.19 Documentation for accounts opened through insta online (through internet)
and documents sent by mail:
i. The first payment to be effected through his /her overseas account
and if from an account in India, it should necessarily be from the
customer's NRE account.
ii. Documents as specified for Non Resident customers as above shall be
self-attested by the customer, duly self-attested and duly
authenticated by and attesting the photograph & signature
(attestation seal should be affixed across the photograph and beside
the signature box respectively) by:
• Authorized officials of overseas branches of Scheduled Commercial
Banks registered in India
• Branches of overseas banks with whom Indian banks have
relationships,
• Notary Public abroad
• Court Magistrate
• Judge
• Indian Embassy / Consulate General in the country where the non-
resident customer resides
• Exchange House through whom our Bank has tie up for remittance
business. Details of exchanges houses are available on Intranet.
2.20 Documentation for Acceptance of Self Attested documents in case of

account opening from overseas locations
(i) NRI / PIO client shall compulsorily furnish additional documents as listed
below along with the NRI account opening form in addition to the
existing mandatory documents required for NRI account opening as
listed above:
(a) Initial account opening cheque from Clients’ existing NRE/NRO/
Resident savings bank account in India
(b) Original bank statement of the clients’ overseas bank account with
seal of the bank with signature. (The statement should not be more
than 2 months old).
(c) Self-attested photocopy/original of any one of the latest overseas
utility bill such as Telephone, Electricity, Gas, Water, it should be
ensured the utility bills so obtained should not be more than two
months old.
(d) Self-attested Photocopy of any two of the following valid photo
identity documents with signature such as:
• Photo Credit Card issued overseas
• Overseas Driving license
• Overseas University/College Id card
• Overseas Health Card
• Overseas Civil Id / Resident permit
(ii) Any other Photo Id document issued overseas by Govt. Authority of the
respective Country.
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(iii) Special Instructions:

• Self-attested documents shall be restricted only to the countries
which are part of Financial Action Task force (FATF) list of member
countries as listed in Appendix II.
• Opening of Accounts based on self-attested documents from
overseas locations is restricted to clients having existing NRE/NRO/
Resident Accounts in India. This facility will not be available to First
time banking NRI / PIO and First Time banking non face to face NRI
/ PIO customers.
• The Branch where the client intends to open the account shall
have the additional responsibility of field verification of Indian
address provided by the client. Field verification report shall be
mandatory and should be attached along with the AOF.
Specimen copy of field verification report format is enclosed at
Annexure VII. Any relaxation in the same has to be ratified by the
Regional Head only.
2.21 Documentation for Foreign Nationals who come to the country for Studies
Non Resident Ordinary Account with Label Code FRNASTU (Any type of
operative account available at the time of opening the account including a
Zero Balance Account with ATM facilities)
i. Copy of Passport
ii. Proof of current address of the home country
iii. Latest coloured Photograph
iv. Signature Proof of individual
v. Copy of Visa with immigration endorsements– Purpose of Visit – Study.
vi. Letter of offer of admission from the educational institution.
vii. Declaration about Local address shall be obtained within a period of 30
days of opening of the account and the said local address has to be
verified ie BOVR along with declaration of local address to be kept on
record.
viii. Resident Permit issued by Registrar of Foreign Nationals (Police
Department).
ix. All the documents taken should be duly verified with the originals.
x. During the 30 days period (till the verification of Address is pending), the
account shall be operated with the condition of allowing foreign
remittances not exceeding USD 1,000 into the account and a cap of
monthly withdrawal of Rs.50,000/-.
xi. On submission of declaration of current address, the account shall be
treated as normal NRO accounts and shall be operated with all terms
and conditions as contained in Manual of Instructions on Non Resident
Deposit account and other guidelines issued by NRI cell of our Bank.
xii. For students with Pakistani Nationality, a prior approval from RBI needs to
be obtained.
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2.22 Documentation for Foreign Nationals who come to the country for
Employment
Resident Account with Label Code FRNATEMP (Any type of operative

account available at the time of opening the account)
i. Copy of Passport
ii. Latest colour Photograph
iii. Signature Proof of Individual
iv. Copy of Visa with immigration endorsements (Compulsory) – Purpose of
Visit - Permission to work
v. Proof of current address of the home country
vi. Resident Permit issued by Registrar of Foreign Nationals (Police
Department)
2.23 Documentation for Nepali Nationals coming to India for Employment
i. As per the policy of the Government, Nationals of Nepal entering India from
Nepal do not require Visa to enter India by road or air, thus the provisions of
Passport, Visa requirement and Resident Permit issued by Registrar of Foreign
Nationals cannot be insisted upon as they are issued only to Foreigners visiting
India on Visa.
ii. The above relaxation, however, would not apply in case of Nepali Nationals
entering India from places other than Nepal as indicated in the Immigration
Process, which is as under:
a. A citizen of Nepal must be in possession of a Passport when entering
India from a place other than Nepal.
b. A citizen of Nepal must have a Passport and Visa for India if he/she is
entering India from China.
iii. One of the following documents is mandatory as Identity proof for opening of
Nepali Citizen account coming to India for employment and entering India
from Nepal only:
• Indian PAN Card
• Latest colour Photograph and Signature proof of Individual
• Nepalese Citizenship* / Passport
• Nepal Voter Card
• Verification of genuineness of citizenship card can be done with the
hallmark of Nepal Sarkar which will be pasted on the photo of
citizenship card.
• Authentication of the employee by the designated official (employer)
in the AOF with full details like name, designation, Employee ID under
seal, or
• A separate letter / certificate along with the photograph of the
employee duly signed by the designated official (employer) with full
details like name, designation, Employee ID under seal or
18
• copy of the identity card of the employee duly attested by the

designated official (employer) with full details like name, designation,
Employee ID under seal
• In case the documentary proof as above does not contain the local
address or address where the customer is currently residing, branches
shall take a declaration of the local address as per Annexure VIII on
which all correspondence will be made by the bank with the
customer. This address shall be verified by the branch through “positive
confirmation” (Branch Official Visit to the local address as declared by
the customer). A reference letter check of landlord may also be taken
supported by a BOVR.
2.24 Documentation for HUF Accounts
a. Certified copy of any one of the OVDs containing details of identity &
address of Karta or person holding power of attorney to transact on
behalf the HUF shall be taken and of Beneficial Owner.
b. Pan card of HUF / PAN Allotment letter/ Form 60.
c. Latest colour Photograph & Signature Proof of Karta.
d. Details of Major coparceners along with signature and relationship with
Karta and minor coparceners along with date of birth.
e. Certified copy of any one of the OVDs containing details of identity &
address of Beneficial Owner, along with Photograph.
2.25 Documentation for Registered TASC (Trusts, Associations, Societies and Clubs)
i. PAN or Form 60 of the Trust.

address in respect of authorised signatory(s) as per resolution or person
holding power of attorney to transact on behalf the trust shall be taken
and
iii. Latest colour Photograph and Signature Proof of all authorized
signatories
iv. Registration certificate issued by registrar in the societies/ by charity
commissioner in case of trust or societies engaged in charitable work
or certificate of Incorporation issued by Registrar of Companies in case
of companies
v. Trust deed in case of public / private trust or Bye-laws in the case of
society/ association/ club. All pages duly signed by the signatories
Memorandum of Association or Article of Association in the case of
Section 25 companies.
vi. Rules of Acts or Gazette notification in the case of Government, Quasi-
Government or Semi- Government entities.
vii. Latest List of Directors / Members / office bearers of the Managing
Committee /association/ club etc.
viii. Resolution of Trustees / Managing body.
19
ix. An Officer of the Branch shall undertake contact point verification

(BOVR- Annexure IX) and shall confirm and satisfy that the business
activity has been verified from the address of the trust.
x. Certified copy of any one of the OVDs containing details of identity &
address of Beneficial Owner, along with Photograph.
2.26 Documentation for Unincorporated Association or body of individuals.
Unregistered trusts/partnership firms shall be included under the term

‘unincorporated association’ and body of individuals includes societies.
i. Certified copy of any one of the OVDs containing details of identity &
address in respect of the person(s) authorised to operate the account
as per the resolution / authorisation letter or holding a power of
attorney to transact on behalf the Association of Persons shall be taken
ii. Photograph and Signature Proof of all authorized signatories
iii. Documents to prove the legal existence of such an association or
body of individuals such as trust deed, bye laws etc.
iv. PAN card copy / Form 60 of the unincorporated association or body of
individuals.
v. One document for Address Proof of Entity (Permanent and
Communication - Refer Table B).
vi. List of all Trustees, Settlers, Beneficiaries, office bearers of association /
society / club and those holding POA, Founders, Managers, Directors
and their addresses,
vii. Resolution of Managing body of such association or body of
individuals.
viii. An Officer of the Branch shall undertake contact point verification
(BOVR) and shall confirm and satisfy that the business activity has been
verified from the address of the association.
ix. Certified copy of any one of the OVDs containing details of identity &
address of Beneficial Owner, along with Photograph
Account type of such accounts shall be captured as UNICB in core banking
software.
2.27 Documentation for Self Help Groups (SHGs)
i. A certified copy of any one of the OVDs containing details of identity

& address of office bearers as well as Beneficial owner,
ii. Photographs of office bearers/ authorised signatories
iii. A certified copy of any one of the OVDs containing details of identity
& address of all the members shall be obtained at the time of availing
any credit facility from Bank.
iv. PAN card copy / Form 60 of SHG.
v. Signature Proof of signatories.
vi. Copy of Code of Conduct - Bye Laws & Rules & Regulation of SHG,
approved by SHG members, if any.
20
vii. Latest List of all members along with their designation and signature/
thumb impression.
viii. Resolution to be signed by 3 members (other than those authorised for
operating the account), indicating their decision to open a savings
bank account with the bank Minimum 2 office bearers should jointly
operate the account.
ix. Registration copy of the SHG (if registered – If available).
x. Copy of SHG Community Register, if available.
xi. If SHG is under Government schemes, copy of Approval from
respective Government Authority for formation of such SHG, if any.
xii. All the documents should be stamped under the Rubber stamp of the
SHG.
Self Help Group Opened under Deendayal Antyodaya Yojana- National Rural
Livelihoods Mission (DAY-NRLM) and National Urban livelihood Mission should be
opened with Label code NRLMSHG and NULMSHG.
Opening of Savings account of Federation of SHGs at village, Gram Panchayat,

Cluster or higher level, the accounts should be categorized as savings account for
‘Association of persons’ and the KYC norms for the signatories of such accounts as
specified under Association of Persons to be obtained.
2.28 Documentation for Sole Proprietorship
i. For opening an account in the name of a sole proprietary firm, identification

information in respect of the individual (proprietor) shall be established i.e.,
certified copy of any one of the OVDs containing details of identity & address
of Proprietor, Signature Proof and PAN or Form 60 of proprietor.
ii. Certified copy of any one of the OVDs containing details of identity & address
in respect of the person(s) authorised to operate the account as per
mandate letter or holding a power of attorney to transact on behalf the
proprietorship firm shall be taken.
iii. Latest Colour Photograph and Signature Proof of authorized signatory/
mandate holder
iv. In addition to above, Any two of the following documents as proof of
business/ activity in the name of the proprietary firm along with financial
status shall also be obtained:
a) Registration Certificate
b) Certificate/licence issued by the municipal authorities under Shop and
Establishment Act.
c) Sales and income tax returns
d) CST/VAT/ GST certificate (provisional/final).
e) Certificate/registration document issued by Sales Tax/Service
Tax/Professional Tax authorities.
f) IEC (Importer Exporter Code) issued to the proprietary concern by the
office of DGFT or Licence/certificate of practice issued in the name of
21
the proprietary concern by any professional body incorporated under

a statute.
g) Complete Income Tax Return (not just the acknowledgement) in the
name of the sole proprietor where the firm's income is reflected, duly
authenticated/acknowledged by the Income Tax authorities.
h) Utility bills such as electricity, water, and landline telephone bills.
(v) In cases where Branch is satisfied that it is not possible to furnish two such
documents, Branch may, at its discretion as an exceptional case, accept
only one of those documents as proof of business/activity. In such cases,
an Officer of the Branch shall undertake contact point verification (BOVR)
and Branch Head shall confirm and satisfy that the business activity has
been verified from the address of the proprietary concern (in these cases
BOVR will act as an entity proof as well as contact point verification).
BOVR is otherwise also mandatory for opening accounts of Proprietor
Concerns.
2.29 Documentation for Partnership Accounts
(i) PAN card of the Partnership Firm;

(ii) Partnership deed duly certified by minimum two partners as true copy;
(iii) Registration certificate of the Firm (if registered);
(iv) One document for Address Proof of Entity (Permanent and Communication-
Refer Table B).
(v) Certified copy of any one of the OVDs containing details of identity & address
partnership deed / authorisation letter or person holding a power of attorney
to transact on behalf of Partnership Firm
(vi) Latest colour photographs and signature proof of all authorized persons.
(vii)An Officer of the Branch shall undertake contact point verification (BOVR)
and shall confirm and satisfy that the business activity has been verified from
the address of the partnership concern.
(viii) Names of all partners and their addresses should be mentioned in the
account opening form.
(ix) If mode of operation is not mentioned in the Deed a letter of consent signed
by all partners is to be taken.
(x) HUF as a partner can be accepted in Current or Fixed Deposit accounts
however no overdrafts in such accounts should be allowed.
(xi) Initial deposit cheque from the partner’s individual account is acceptable.
(xii) Certified copy of any one of the OVDs containing details of identity & address
of Beneficial Owner, along with latest coloured Photograph.
2.30 Documentation for One Person Co/Private Limited/Public Limited Companies
a) Certificate of incorporation of Company;

b) Memorandum and Articles of Association certified by company secretary or
director/chairman;
22
c) PAN of the Company is Mandatory, (PAN mentioned in the Certificate of

Incorporation issued by MCA shall also be treated as sufficient proof of PAN);
d) A resolution from the Board of Directors to open and operate the account on
its behalf. Designations of the persons operating the account to be
specifically mentioned. Board resolution should be signed by the Company
Secretary or at least 2 directors (in case of OPC, resolution to be signed by
director or company secretary);
e) One document for Address Proof of Entity (Permanent and Communication -
Refer Table B);
f) Company Identity Number (CIN) - for Companies Registered / Incorporated
on or After May 1, 2015. CIN should be verified from the website of Ministry of
Corporate Affairs available under the link View Company Master Data
(https://mca.gov.in/MinistryV2/view+company+or+llp+master+data.html).
Print out of Company Master Data should also be printed and attached
along with AOF;
g) For companies registered / incorporated and commenced their business prior
to April 01, 2014 - Certificate of Commencement of Business to be taken only
for Public limited Companies (As per Section 149 of Companies Act,
Certificate of Commencement of Business should not be insisted from those
companies that have been converted from Private Limited to Public Limited
Companies.)
h) In case of change in the registered address of the company – form no. INC
22. Where the address is changed prior to April 2014 - form no. 18 issued by
ROC along with receipt of submission to ROC.
i) Initial deposit cheques from the promoters/directors accounts are
acceptable.
j) If Directors names are not mentioned in MOA then Form DIR -12 to be taken
along with ROC cash challan. Where the appointment of Directors and the
changes among them are prior to April 2014 Form 32 issued by ROC along
with receipt of submission to ROC is to be taken. In exceptional cases, latest
list of directors can be downloaded by the branch from the site of Ministry of
Corporate Affairs, Government of India and authenticated by branch official.
k) An Officer of the Branch shall undertake contact point verification (BOVR)
and shall confirm and satisfy that the business activity has been verified from
the address of the company.
l) Certified copy of any one of the OVDs containing details of identity & address
resolution / authorisation letter or person holding a power of attorney to
transact on behalf of Company., along with latest coloured photograph &
signature proof of all the said persons;
m) Certified copy of any one of the OVDs containing details of identity & address
of Beneficial Owner, along with latest coloured Photograph.
23
2.31 Documentation for Unincorporated Joint Ventures (UJV):
i. Pan card copy of the Firm and of each participant (mandatory);

ii. Certified copy of any one of the OVDs containing details of identity & address
resolution / authorisation letter or person holding a power of attorney to
transact on behalf of UJV; along with latest coloured photograph & signature
proof of all the said persons;
iii. One document for Address Proof of Entity (Permanent and Communication –
Refer Table B);
iv. List of Participants, duly signed by all participants;
v. UJV Agreement entered between the UJV participants together with any
amendments and modifications thereto. (Tenure of UJV needs to be noted
and ensured that this is within the dissolution period.) All pages should be duly
signed by the signatories. Attested by branch Official with branch stamp and
EIN No. If the UJV is conducted beyond the dissolution period, then a new
UJV agreement is needed;
vi. Resolution for opening and operating bank account by UJV. Mode of
operation to be specified in the resolution giving specific names and
monetary ceilings, if any.
vii. In case, one or more participant of the UJV is a foreign entity, branches may
consult Legal Department;
viii. Certified copy of any one of the OVDs containing details of identity & address
of Beneficial Owner, along with Photograph
Opening of a bank account by UJV is fraught with high risks and abundant care
and caution needs to be exercised. In case of any doubt with regard to UJV, a
separate opinion may be obtained from LD. For this reason, no KYC deviation is
permitted in such cases.
Further it may be ensured that the purpose of UJV does not contravene
applicable laws and the number of participants in the UJV does not exceed 20 in
the case of non-banking business and 10 in case of banking business. Otherwise it
will be treated as an illegal association.
It may be noted that the above KYC requirements are only for Liability accounts
in the Bank. Further all such accounts are to be categorized as “HIGH RISK” at
the time of opening (mandatorily).
a) Where UJV Participant is a Limited Company - Duly certified copy of the

latest Memorandum & Articles of Association and other KYC Documents
of the said company as per the extant KYC Policy of the Bank. The
constitutional documents should be examined to verify whether it
empowers the company to be a participant in any UJV. If so necessary
resolution / authorisation (internal approval) to the effect that the
company has been authorised to participate in the said UJV should also
be obtained.
24
b) Where UJV Participant is a Partnership firm - Duly certified copy of the

latest Partnership Deed and other KYC Documents of the said Partnership
Firm as per the extant KYC Policy of the Bank. The constitutional
documents should be examined to verify whether it empowers the
Partnership Firm to be a participant in any UJV. If so necessary
authorisation (internal approval) to the effect that the Partnership Firm has
been authorised to participate in the said UJV should also be obtained.
c) Where UJV Partner is a Limited Liability Partnership (LLP) - Duly certified
copy of the latest Agreements / LLP Agreement and other KYC
documents of the said LLP as per the extant KYC policy of the Bank. The
constitutional documents should be examined to verify whether it
empowers the LLP to be a participant in any UJV. If so necessary
authorisation (internal approval) to the effect that the LLP has been
authorised to participate in the said UJV should also be obtained.
2.32 Documentation for Limited liability Partnerships (LLP):
i. Pan card copy of the Firm(mandatory);

address in respect of the person(s) authorised to operate the account as
per resolution / authorisation letter or person holding a power of attorney
to transact on behalf of LLP; along with latest coloured photograph &
signature proof of all the said persons;
iii. One document as address Proof of Entity (Permanent and
Communication – Refer Table B);
iv. A certified true copy of the Limited Liability Partnership Agreement signed
by designated partners;
v. A certified true copy of the Certificate of Incorporation / Registration
signed by designated partners along with LLPIN number of LLP; company
identification number ie LLPIN should be verified from the website of
Ministry of Corporate Affairs available under the link View Company
Master Data. Print out of Company Master Data should also be printed
and attached along with AOF
(https://mca.gov.in/MinistryV2/view+company+or+llp+master+data.html)
vi. Copy(ies) of the Certificate(s) of “Designated Partner’s Identification
Number” (DPIN) or Directors Identification Number (DIN) of the
Designated Partner(s) as the case may be issued by the Central
Government;
vii. Copy of Resolution to open and operate the account along with list of
authorized person/s with the specimen signatures to operate the account
duly attested by Designated Partners;
viii. List of names and addresses of present Partners and Designated Partners
signed by Designated Partners;
ix. Branch shall check the list of designated partners, online at the link
provided in point (xii) below;
x. The provisions of the original LLP Agreement regarding opening and
operating of bank accounts are to be noted and it should be ensured
that the provisions are not in conflict with the resolution. In case any one
25
or more of the Partners or Designated Partners are already authorized to

open and / or operate bank accounts of the LLP, the resolution can be
signed by those authorized partners and/ or Designated Partners;
xi. The Incorporation certificate submitted by the LLP contains Identification
number of the LLP. , Branches should invariably check the designated
partners details from the internet site http://www.mca.gov.in/LLP/
>>>Quick links>>> View LLP Master Data and Index of Charges. Branches
shall check the authenticity of information relating to partners and
designated partners and should take a print out of the same and submit
the same duly authenticated by along with AOF to RPU at the time of
opening the account;
xii. an Officer of the Branch shall undertake contact point verification (BOVR)
and shall confirm and satisfy that the business activity has been verified
from the address of the firm;
xiii. Certified copy of any one of the OVDs containing details of identity &
address of Beneficial Owner, along with latest coloured photograph.
2.33 Basic Savings Bank Deposit Account (BSBDA)
i. ‘BSBDA Full KYC Account’ is subject to RBI instructions on KYC / AML for
opening of Banks Accounts, issued from time to time. An individual who
desires to open a BSBDA Full KYC Account may be allowed to open such
an account on production of all the required KYC Documents applicable
for Individual accounts.
ii. These accounts are subjected to certain restrictions with regard to
number of transactions. Branches may be guided by the relevant
product circulars and guide the prospective customer accordingly.
iii. Holders of ‘BSBDA’ will not be eligible for opening any other savings bank
deposit account in bank. If a customer has any other existing savings
bank deposit account in the bank, he/she will be required to close it
within 30 days from the date of opening a ‘BSBDA Full KYC Account’.
iv. These accounts can be opened both under Branch and Business
Correspondent (BC) Model. Under branch model these accounts are
opened under the Scheme Code RSBA2. Under BC model these
accounts shall be opened with specific Scheme Codes as provided by
Financial Inclusion Department of the Bank from time to time.
v. Documents as required for individual category shall be obtained.
2.34 Documentation for Gift Cards (Prepaid Cards) and Travel Cards
a. Gift card (Prepaid Card)

Documents as applicable to Individuals/ Entities etc. shall be obtained
along with application form (in duplicate)
26
b. World Currency Card.

i. Documents as applicable to Individuals/ Entities etc. shall be obtained
along with application form (in duplicate)
ii. Passport copy, Visa copy, Air ticket copy (Travel date to be within 60
days of card issuance date) and A2 form are mandatory for WCC.
In case of existing KYC complied customers KYC documents shall not be

insisted.
Physical Cash Card application forms along with KYC documents should be
retained in Branches. The same will be verified by Internal Audit Department
and Regional Operation Managers during the audit / visit of branches.
2.35 Documentation for Banks’ Accounts
i. RBI License
ii. MOA/AOA if the entity is a Limited Company.
iii. Bye laws if the entity is a co-operative Bank.
iv. Board Resolution signed by Chairman/ MD & CEO of Cooperative Bank
/ Power of Attorney/Delegation of Powers.
v. Certified copy of any one of the OVDs containing details of Identity
and Address in respect of the managers, officers or employees
authorised to operate the account as per resolution or holding an
attorney to transact on its behalf shall be obtained along with
signature proof and latest coloured photograph.
vi. Certified copy of any one of the OVDs containing details of identity &
address of Beneficial Owner, along with latest coloured Photograph
vii. Questionnaire on KYC /AML /CFT for cooperative Banks (Annexure X)
authenticated by the authorized signatory of the Cooperative Bank. A
copy of the duly filled in questionnaire should be kept in the records of
the branch and the original should be submitted to RPU for keeping
the same in the client pack of the said Cooperative Bank (CB). It is
advised that in cases where the CB customer expresses his inability to
provide Enhanced Due Diligence (EDD) questionnaire/related
documents, Branch may take up with Zonal GM based on merits and
necessary approval may be obtained based on which RPU may open
such accounts.
viii. After the Account is opened and activated, Branches should issue a
letter to the Cooperative Bank as per the format (Annexure XI) for
instructions & guidelines related to At Par cheque facility. A copy of the
letter, duly acknowledged by the CB should be submitted to RPU for
maintenance in the customer folder of the client along with other
documents relating to account opening.
27
2.36 Documentation for Government Accounts
i. Certified copy of any one of the OVDs containing details of identity &
address in respect of the person(s) authorised to act on behalf of the
entity /Government Order/Notification, operate the account as per
authorisation letter or person holding a power of attorney to transact
on behalf of LLP Document showing name of the person authorised
ii. PAN /Form 60, if any
iii. Letter/Resolution from authorized person for opening and operating
the bank account.
iv. Photographs and signature proof of Government officials/ authorised
signatories
v. Such documents as may be required to establish the legal existence of
such an entity/juridical person.
vi. Branch Official Visit Report (BOVR) duly signed by Branch Head and
visit is to be conducted by BH himself.
vii. Certified copy of any one of the OVDs containing details of identity &
address of Beneficial Owner, along with latest coloured Photograph.
RBI has provided list of Institutions which are permitted / prohibited for
opening savings Bank account and details of same are in Retail Banking
Manual of Instructions, branches should refer the list before proceeding for
opening the account.
2.37 Documentation for Mandate / POA Holder
i. PAN or Form 60.

ii. One latest coloured Photograph.
iii. A certified copy of any one of the OVDs containing details of identity
and Address.
iv. Letter of Mandate should be in Bank format (Annexure XII).
v. Mandate Letter to be signed by the customer and mandate holder.
vi. Mandate holder/Power of attorney holder cannot open the account
of the Principal.
vii. Mandate letter can be accepted only from Literate customers.
2.38 ESCROW Account

An ECSROW is a contractual arrangement in which a third party
(the stakeholder or escrow agent) receives and disburses money
or property for the primary transacting parties, with the disbursement
dependent on conditions agreed to by the transacting parties ESCROW
Agreement.
An ESCROW agreement defines the arrangement by which one party

(sometimes called the depositor) deposits an asset with a third person (called
28
an escrow agent), who, in turn, makes a delivery to another party (the

beneficiary) if and when the specified conditions of the contract are met.
KYC document for opening the ESCROW account is as per the constitution of
the entity and the agreement should be vetted by Legal Department of the
zone.
2.39 Deviations/approvals
i. As per RBI guidelines, no deviations or exemptions shall be permitted for

Mandatory & Officially Valid Documents as mandated for opening accounts
mentioned in Table-A above.
ii. Even in case of other documents, no deviations or exemptions shall be
generally permitted. However, in certain genuine cases, Regional Head of the
respective business/dealing vertical can approve alternate documents, if
they are satisfied that the underlying guidelines of KYC and AML which is
communicated by RBI and Bank from time to time are not compromised.
iii. Branches should submit to the approving authority as to why the
documentation requirement as advised in this Circular could not be fully
complied, clearly bringing out the reasons and the circumstances under
which the deviation is sought for. Branch should also take additional
precautions such as personal visit to the place of the prospective account
holder etc. or such other precautions as may be deemed fit by the approving
authority, to substantiate and strengthen their request. This will help the
approving authority for taking decision.
iv. While approving such deviations / alternate documents, the approving
authority should be satisfied that the Branch has done the KYC in spirit and
that maximum possible documentation has been taken in support of their
claim. The approving authority should also be satisfied that the deviations
allowed are within the ambit of RBI instructions.
v. It should be ensured that the exceptions should be made only in
extraordinary cases where documents as per extant guidelines of the Bank
are genuinely not available and also after being fully satisfied about the
reasonableness of the case.
3 (A) Transaction Monitoring -Indicative Alert Indicators (Transaction Based):

3.1 On-going monitoring of customer transactions is an essential and integral
element of KYC procedure and AML standards. The extent of monitoring will
depend on the risk sensitivity of the account. There is an imperative need for
continuous monitoring of customer transactions and reporting of any instances
of suspicious transactions to the Principal Officer of the Bank.
3.2 Special attention needs to be paid to all complex and unusually large
transactions which has no economic purpose.
3.3 Transactions that involve large amounts of cash inconsistent with the normal
and expected activity of the customer shall also attract special attention. Very
high account turnover inconsistent with the size of the balance maintained
29
may indicate that funds are being 'washed' through the account. High-risk
accounts shall be subjected to intensive monitoring.
3.4 Suspicious activities such as multiple credits from different centers in cash and
simultaneous withdrawal from the account should be brought under
transaction monitoring. Typically, a fraudster opens an account with the bank
and makes a public advertisement in newspapers other media about Lottery /
employment / availability of cheap funds etc., and lures the gullible public to
deposit money in his account. As a result of this multiple credits are received in
the fraudster’s account from various centers and these are withdrawn
immediately through ATM and other channels.
3.5 FIU-IND has advised Banks that certain fraudsters have been using petrol pumps
for routing illegal income earned by defrauding people. The modus operandi
of these fraudsters is to make general public deposit money into their bank
accounts and thereafter remit the funds to the accounts of petrol pumps for
subsequent cash withdrawals through these petrol pumps. In view of this,
Branches are advised to closely monitor the transactions in the accounts of
their petrol pump customers and conduct enhanced due diligence while
carrying out transactions of these customers. Any activity giving rise to suspicion
should be reported to AML Cell for filing Suspicious Transaction Report (STR).
3.6 Branches should verify the records maintained by Cooperative Banks,
pertaining to issuance of ‘At Par’ Cheques covering, inter alia, applicant’s
name, account number, beneficiary’s details and date of issuance, should
there be any doubt. If any deviation / discrepancy / irregularity is observed,
branches should take appropriate action including recommending to AML Cell
for filing Suspicious Transaction Report (STR).
3.7 Accounts of Multi-level Marketing (MLM) Companies need special attention.
Such accounts may be misused for defrauding public by luring them into
depositing their money with the MLM Company by promising high return.
Hence, branches should closely monitor the transactions in accounts of MLM
companies. In cases where large number of cheque books are sought by the
company, there are multiple small deposits (generally in cash) across the
country in one account and where a large number of cheques are issued
bearing similar amounts/dates, the branch should carefully analyse such data
and in case they find such unusual operations in accounts, the matter should
be immediately reported to AML Cell at CPU, to enable them to file a
Suspicious Transaction Report (STR) in such cases. To facilitate reporting of STRs
by branches/locations, a link is made available at Intranet>>Other Links>>AML.
All details of the customer and reasons for raising suspicion should be entered in
this link and a confirmatory email should be sent to AML Cell (email id:
[email protected]) without fail. The information should be treated confidential
as per the requirement of Prevention of Money Laundering Act 2002 and not to
be disclosed to customers under any circumstances nor to be put up /
displayed in public domain.
3.8 Branch should ensure that any remittance of funds by way of demand draft,
mail/telegraphic transfer or any other mode and issue of travellers’ cheques for
30
value of Rupees fifty thousand and above should be effected by debit to the
customer’s account or against cheques and not against cash payment.
3.9 Branch should monitor all series of cash transactions integrally connected to
each other which have been individually valued below rupees ten lakhs or its
equivalent in foreign currency where such series of transactions have taken
place within a month and the monthly aggregate exceeds rupees ten lakhs or
its equivalent in foreign currency.
3.10 In case of transactions carried out by a non-account based customer, that is a
walk-in customer, where the amount of transaction is equal to or exceeds
rupees fifty thousand, whether conducted as a single transaction or several
transactions that appear to be connected, the customer's identity and address
should be obtained per table A. If there is a reason to believe that a customer
is intentionally structuring a transaction into a series of transactions below the
threshold of Rs.50,000/-, identity and address of the customer shall be verified
and filing a STR to FIU-IND may be considered.
3. (B) Indicative Alert Indicators- Behaviour based:

While Branches will be recommending to AML Cell for filling STR for any
transaction / suspicion as above, it is quite likely that ‘certain behaviour’ by
customer and general public might create doubt in the minds of branch
officials. Such of those behaviours should also be reported by branches by
following the above process.
FIU-IND has issued Red-flag Indicators (RFIs) to the Reporting Entities (REs) from
time to time for monitoring of transactions. These RFIs can broadly be
categorised as transaction based indicators (to be implemented in AML
software) and behaviour based indicators for monitoring by Branches / Dealing
verticals.
An indicative list of transaction and behaviour based indicators are given in
Appendix III.
Branches / units are advised to report any such alert indicative incident to AML
Cell.
4 Risk Management:
a. Bank is exposed to the Reputation, Compliance, Operational and Legal risks

arising out of Money Laundering activities and non-adherence of KYC
standards. For the purpose of effective implementation of KYC policy and AML
Standards, AML Cell headed by the Principal Officer monitors transactions in
all customer accounts on concurrent basis. Any transaction found to be
suspicious by the branches, shall immediately be reported to AML cell.
b. Whenever there is any suspicion of money laundering or terrorist financing or
when other factors give rise to a belief that the customer does not, in fact,
pose a low risk, full scale Customer Due Diligence (CDD) should be carried out
before opening an account.
c. Whenever there is any suspicion of money laundering or financing of the
activities relating to terrorism or where there is any doubt about the adequacy
31
or veracity of previously obtained customer identification data, the due

diligence measures should be again taken including verifying the identity of
the client and obtaining information on the purpose and intended nature of
the business relationship. Branches should report of the same to AML Cell
immediately in Suspicious Transaction Report (STR) format for onward
submission to FIU/RBI/MoHA.
d. Opening and/or holding of an account on behalf of a client/s by professional
intermediaries, like Lawyers and Chartered Accountants, etc., who are unable
to disclose true identity of the owner of the account/funds due to any
professional obligation of customer confidentiality is not allowed. Further,
professional intermediary, who is under any obligation that inhibits Bank's ability
to know and verify the true identity of the client on whose behalf the account
would be held or beneficial ownership of the account or understand true
nature and purpose of transaction/s, should not be allowed to open an
account on behalf of a client.
e. In the circumstances when it is believed that no longer Bank can be satisfied
that it knows the true identity of the account holder, an STR with FIU-IND shall
be filed.
f. Any inquiry in account received from regulators or police authorities, Cyber
Crime Department, Ministry of Corporate Affairs etc., should be immediately
followed by a field investigation of the accounts and the findings should be
kept on record.
5 Periodic updation of Customer Identification Data (CID)
5.1 Customer identification data (including photograph/s) shall be periodically

updated after the account is opened. As per RBI guidelines the periodicity of
such updation (obtaining Full KYC) shall not be less than once in ten years in
case of low risk category customers, not less than once in eight years in case of
medium risk categories and not less than once in two years in case of high risk
categories.
5.2 In case of no change in status with respect to their identities and addresses for
those customers who are categorised as ‘low risk’, Branches need not seek
fresh proofs of identity and address at the time of periodic updation. A self-
certification by the customer to that effect shall suffice in such cases as per
Annexure XIII. Branches may note that such facility is provided to the customer
through easy means such as reply to SMS and e mails received from the Bank
and giving a positive confirmation in Internet Banking. Branches should
popularize these channels so that the customers are not inconvenienced. In
case of change of address of such ‘low risk’ customers, they can merely
forward a certified copy of the document (proof of address) by mail/post, etc.
Branches need not insist on physical presence of such low risk customer at the
time of periodic updation. Low risk customers can also complete their KYC
updation through video KYC process.
5.3 Bank sends letters along with the ‘Customer Identification form’ as per
Annexure XIV to all customers who fall under the category as mentioned
32
above to update CID. The branch has to obtain a duly filled form from their
customers along with the required KYC documents, FATCA/CRS/CKYC
Declaration. The documents so obtained from the customers shall be sent to
the respective RPUs for updating the same in the system. Whenever the letters
sent by Bank are undelivered, the same shall be returned to the home branch
of the customer to enable them to contact the customer for obtaining KYC
details.
5.4 Other than sending letters, Bank also sends SMS on monthly basis to all
customers under Low Risk Category for submission of Re-KYC through SMS /
Web. Low risk customers also have option of updating KYC through Net
Banking option.
5.5 For easy identification of such accounts by the Branches, a pop up (“Periodic
KYC updation is pending for this Customer. Please obtain and update the KYC
on urgent Basis”) has been enabled in the system.
5.6 Region wise & zone wise summary of Customer IDs which are pending for
periodic updation of KYC is shared through e-mail with all controllers on daily
basis. Also data of accounts due for Re-KYC is uploaded & available on
weekly basis on Intranet >>Departments >> BOSPD >> Hotlinks >> Re-KYC Data.
It is mandatory for branches to download the data on re-kyc and take timely
action for periodic updation of KYC. Updation of re-KYC is an on-going activity
at branches. Branches should also educate customers on various option
available with them for updation of KYC as stated above. Non- adherence
/laxity to guidelines shall be viewed seriously.
5.7 RBI, has expressed its concerns about non-submission of KYC documents by
customers at the time of periodical updation which often leads to KYC non-
compliant accounts continuing to be operated and making them vulnerable
to money-laundering and terrorist financing activities. Where Branch is unable
to apply appropriate KYC measures due to non-furnishing of information and /
or non-cooperation by the customer, Branch shall consider closing the account
or terminating the banking/business relationship after issuing due notice to the
customer explaining the reasons for taking such a decision. Such decision
would be taken by the Branch Head. Branch shall be guided by the guidelines
given in the Customer Severance Policy hosted in intranet under BOSPD.
Branches shall capture appropriate closure reasons in core banking software
while closing such non KYC compliant accounts.
5.8 Branches are advised to follow-up with the customers at regular intervals for
periodic updation of KYC in their accounts to avoid any customer grievances.
Branches should ensure that once the periodic updation of KYC by customer is
completed, KYC related freeze if any should be removed from all the accounts
(Current, Savings as well as Fixed Deposits) tagged to customer id, in order to
avoid any customer service issues at a later date.
5.9 While the branch is revisiting the KYC of a Corporate Pay roll client under
Customer Identification Updation (CID) exercise, there would be no need to
obtain the signature of the employer subject to:
(a) Completing remaining KYC process as mentioned in Para 2.16 above (and)
33
(b) Branch Head confirming that the said client is still receiving salary from the
same employer.
5.10 The CID exercise can be complied with by the customer, by visiting any branch
of the Bank and not necessarily the home branch.
34
CHAPTER - III
Record Management
OBLIGATIONS UNDER PREVENTION OF MONEY LAUNDERING ACT 2002 (PMLA, 2002)
A. As per PMLA 2002 Banks, among other things, should ensure
1. Maintenance of records of transactions

2. Information to be preserved
3. Maintenance and preservation of record
4. Reporting to Financial Intelligence Unit – India
1. Maintenance of records of transactions: As per the PMLA, proper record of

transactions has to be maintained. Details of transactions required to be kept
under PMLA are as under:
a) All cash transactions of the value of more than Rs. 10.00 lakh or its
equivalent in foreign currency.
b) All series of cash transactions integrally connected to each other which
have been individually valued below rupees ten lakhs or its equivalent in
foreign currency where such series of transactions have taken place within
a month and the monthly aggregate value of such transactions exceeds
rupees ten lakhs or its equivalent in foreign currency.
c) All transactions involving receipts by non-profit organisations of value more
than rupees ten lakh or its equivalent in foreign currency.
d) All cash transactions where forged or counterfeit currency notes or bank
notes have been used as genuine or where any forgery of valuable
security or a document has taken place facilitating the transactions.
e) All suspicious transactions whether or not made in cash and by way of:
i. deposits and credits, withdrawals into or from any accounts in
whatsoever name they are referred to in any currency maintained by
way of :
• cheques including third party cheques, pay orders, demand
drafts, cashier’s cheques or any other instrument of payment of
money including electronic receipts or credits and electronic
payments or debits, or
• travellers cheques, or
• transfer from one account within the same banking company,
financial institution and
• intermediary, as the case may be, including from or to Nostro
and Vostro accounts, or
• any other mode in whatsoever name it is referred to;
ii. credits or debits into or from any non-monetary accounts such as
demat account, security account in any currency maintained by the
banking company, financial institution and intermediary, as the case
may be;
35
iii. money transfer or remittances in favour of own clients or non-clients

from India or abroad and to third party beneficiaries in India or abroad
including transactions on its own account in any currency by any of
the following:-
• payment orders, or
• cashiers cheques, or
• demand drafts, or
• telegraphic or wire transfers or electronic remittances or transfers,
or
• internet transfers, or
• Automated Clearing House remittances, or
• lock box driven transfers or remittances, or
• remittances for credit or loading to electronic cards, or
• any other mode of money transfer by whatsoever name it is called;
iv. loans and advances including credit or loan substitutes, investments
and contingent liability by way of:
• subscription to debt instruments such as commercial paper,
certificate of deposits, preferential shares, debentures, securitized
participation, inter-bank participation or any other investments in
securities or the like in whatever form and name it is referred to, or
• purchase and negotiation of bills, cheques and other instruments,
or
• foreign exchange contracts, currency, interest rate and
commodity and any other derivative instrument in whatsoever
name it is called, or
• letters of credit, standby letters of credit, guarantees, comfort
letters, solvency certificates and any other instrument for
settlement and/or credit support;
v. Collection services in any currency by way of collection of bills,
cheques, instruments or any other mode of collection in whatsoever
name it is referred to.
f) All cross border wire transfers of the value of more than rupees five lakh or
its equivalent in foreign currency where either the origin or destination of
fund is in India;
g) All purchase and sale by any person of immovable property valued at fifty
lakh rupees or more that is registered by the reporting entity, as the case
may be.
2. Information to be preserved: As per the PMLA, all necessary information has to

be maintained properly, to permit reconstruction of individual transaction,
including the following information:
a) the nature of the transaction;
b) the amount of transaction and the currency in which it was
denominated;
c) the date on which the transaction was conducted; and
36
d) the parties to the transaction
3. Maintenance and Preservation of record: Records containing information of

all transactions including the records of transactions has to be maintained in
hard or soft format as per following criteria:
i. Data to be preserved in a manner that allows data to be retrieved easily
and quickly whenever required or when requested by the competent
authorities. Records to be maintained for at least five years from the
date of transaction between the bank and the client, all necessary
records of transactions, both domestic or international, which will permit
reconstruction of individual transactions (including the amounts and
types of currency involved if any) so as to provide, if necessary,
evidence for prosecution of persons involved in criminal activity.
ii. Records pertaining to the identification of the customer, beneficial
owner and his address (e.g. copies of documents like passports, identity
cards, driving licenses, PAN card, etc.) obtained while opening the
account and during the course of business relationship as well as
business correspondence, are properly preserved for at least five years
after the business relationship is ended . The identification records and
transaction data should be made available to the competent
authorities upon request.
iii. Record with regard to identity of clients and records in respect of
transactions can be maintained in hard or soft format.
iv. Background including all documents/office records/memorandums
pertaining to all complex, unusual large transactions and all unusual
patterns of transactions, which have no apparent economic or visible
lawful purpose and purpose thereof should, as far as possible, be
examined and the findings at branch as well as Principal Officer level to
be properly recorded. Such records and related documents should be
made available to help auditors, in their day-to-day work relating to
scrutiny of transactions and also to Reserve Bank/other relevant
authorities. These records are required to be preserved for five years as is
required under PMLA.
4. Reporting to Financial Intelligence Unit – India: Information relating to cash

and forged or counterfeit currency notes or bank notes and suspicious
transactions and all transactions involving receipts by non-profit organizations
of value more than rupees ten lakh or its equivalent in foreign currency and
cross border wire transfers of more than rupees five lakhs are required to be
reported to the Director, Financial Intelligence Unit-India (FIU-IND). For details
of reporting, Policy on KYC and AML may be referred.
37
CHAPTER – IV
1. Suspension and reactivation of suspended Customer Ids:

1.1 On review of the customer base of the Bank, the Customer IDs that either do not
have any account or have only closed accounts linked to them are suspended
in Finacle. Since customers do not have any active account with the Bank, it
may not be possible to collect revised KYC documents to activate their client IDs.
1.2 However there is a possibility of these customers approaching the Bank on a

future date to open new account/s. If such a request is received, the branch
should obtain revised KYC documents (Customer Information Updation Form for
KYC and Customer Profile Sheet, FATCA / CRS Declaration, CKYC Form, PAN) as
per extant guidelines on CID exercise and send the same to the respective RPU.
RPU, on receipt of the said CID form would activate the Customer ID, thereafter
only the account can be opened under the said client ID.
CHAPTER - V
General Check Points for Account Opening
1. It has been observed that Branches are providing welcome kits/express account
number to existing customers (with or without live accounts) Thereafter branches
request RPU to merge the new customer ID with old / existing customer ID. During
this conversion process the tagging of account manager, account sourcing
details on the new customer ID are lost, consequently affecting the MIS record of
the accounts under such client ID.
2. There are many avenues available to branches for processing of accounts for
existing customers such as scan based account opening, speed gate account
opening, DAO where RPU processes account on the same day without any
delays. Accordingly, branches should ensure the following:
• Branches should meticulously check MULCUS in letter and spirit
• Branches should not provide pre-opened (welcome kit & express
accounts) to existing customers or where customer ID already exist in
system.
• If existing customer ID is found in system with no LIVE account then the old
customer ID should be suspended ( if branch wishes to provide pre-
opened welcome kit or express account
• Whenever an account is closed at the branch level , branch should also
ensure that the customer ID is suspended ( with the roll out of Finacle 10x
now customer ID can-not be suspended / unsuspended at branch level &
only RPU can do the same). Accordingly in case of closure of account
branches should take-up with tagged RPU to ensure suspension of
customer ID ( may-be with BH approval , policy in this regard may be
framed )
• MIS with existing un-suspended Customer id(s) with No LIVE account(s)
should be derived by branches, for taking action as stated above. ROMs,
during their visits to branches should review the action taken by branches
on the same. It may also be noted that some customer IDs are required to
38
be maintained without active/live accounts; for eg. in case of SHG

members, surety / guarantors for loan account. Hence, branches may
review the same before sending request to RPU for suspension of customer
id.
3. The entities that are permitted to open Savings Account and those permitted to
open only Current Accounts are given in the Manuals of Instructions of the Bank.
Branches should be guided by the same before sending the AOF to their RPU.
Broadly business transactions are routed through current account and savings
transactions are routed through savings accounts.
4. Branches shall discuss with the client before account opening as to what
purpose the proposed savings account is being opened. If it was indicated / felt
that the proposed account is going to be used for routing business transactions,
the prospective client should be told to open a current account instead.
5. Branch should monitor all savings accounts, on an on-going basis and
proactively ensure that business transactions are not routed through savings
account. If they observe any such business transactions in savings account, they
should call such customer to the branch and advise him to refrain from routing
business transactions and advise account holder to open a separate current
account for his business transactions. Branch should also clearly indicate to the
client that the SOF of the Account opening form is presently having a provision to
freeze the account under such circumstances.
6. If the customer has not stopped using the said saving account for routing
business transactions, a letter may be issued to the customer drawing his
attention to the earlier discussion and asking him to refrain from using the savings
account for business purpose and open a current account instead.
7. If there is no positive response even for the said letter, a final letter would be
issued through Registered Post asking him to open a current account failing
which the bank shall be constrained to close the account by giving a date for
the same. It should be noted that since these are HNI clients, the efforts of the
branch should be to prevail upon and convince the client and make him open a
Current Account instead of closing the existing savings account.
8. Various miscellaneous important points related to opening of accounts are listed
in detailed in Manual of Instructions on Retail Banking, branches are advised to
adhere to the guidelines meticulously, some of the important points are also
listed below:
(i) AOF shall be complete in all respects and duly signed by the prospective
customer. An authorized officer of the branch should get a copy of
relevant documents and should compare the same with the original and
certify the same on the copies of such documents with narration “original
seen and verified” with full signature, name and EIN number. The round
stamp of the Branch shall be neatly affixed on such copies with narration
“submitted to IDBI Bank, ……… Branch for Account Opening” with name
and date.
(ii) MULCUS should be checked before onboarding the client. MULCUS should
also be checked before offering a new account under welcome kit,
39
express account and any other pre opened account and also any loan
account.
(iii) Name Scanning of customer on the UN list of Taliban / Al Qaida Terrorists
and UN Caution List on Iran’s nuclear and ballistic Missile Program and
ensure that the accounts of individuals / entities matching with the list is
not opened in the Bank. In case any resemblance with the individuals and
entities in the latest lists is found, branches should report of the same to
AML Cell immediately in Suspicious Transaction Report (STR) format for
onward submission to FIU/RBI/MoHA. The links for the same is available on
Intranet >> Departments >> BOSPD >> Hotlinks>>Updated list of UAPA
section 51A.
(iv) The CIN, so obtained, shall be updated by respective RPUs in finacle using
IBKLEI menu option for new & existing corporate customer.
(v) In case of retrieval of account opening form(soft / hard copy)at a future
date for various reasons such as demand from Police Authorities,
Enforcement Directors, RBI, Income tax department, internal references
etc, branches shall submit the request to RPU along with approval of ZOM
/RH of the Zone / Vertical.
(vi) For indenting Non-Individual account Welcome Kits through Welmast,
branches shall place the request along with RH/SRH approvals. No debit
card should be indented for RSGOV& RCGOV accounts.
(vii)BH / SOM should ensure that neither AOF nor any of the ISA/supporting
KYC shall bear the signature of outsourced staff.
(viii) Authorised Officials should scrutinize AOF & KYC documents for
compliance of extant KYC norms of the Bank and on being satisfied, shall
sign the Account Opening Memorandum (for other than legal entity
cases).
(ix) As a part of KYC compliance, branches should undertake tele-verification
of the prospective client.
(x) The space in account opening form seeking details of credit facilities
being obtained from any other bank should not be left blank or filled with
dash sign etc. It should be specifically mentioned as availing or not
availing.
(xi) Bank to allot a Unique Customer Identification Code (UCIC) while entering
into new relationships with Individual / Non -Individual customers as also
the existing Individual / Non-Individual customers by banks. UCIC for
individual is the existing customer ID as per finacle and in the case of non-
individuals, the approach was to recognize the need for multiple IDs (for
reasons such as need for internet banking, different officials operating
different account at different locations, existence of different divisions of a
company etc.) and then allot a UCIC. Thus in the case of non-individuals,
there will be two IDs, ie., Customer ID as per Finacle and one UCIC. The
option for adding, deleting and modification of a client ID to the existing
UCIC is available in IBNKUCIC menu option
40
(xii) The details of Beneficial Owner should be obtained during the normal
course of account opening and also at the time of KYC updation for legal
entity clients.
(xiii)Branches to ensure that all guidelines are meticulously followed while
establishing a relationship with a Politically Exposed Person (PEP) or where
the existing customer or BO becomes PEP. PEPs are subject to enhanced
monitoring / due diligence on an on-going basis.
(xiv)It is mandatory to obtain Beneficial Owner (BO) details for legal entity
accounts at the time of account opening and also at the time of KYC
updation of legal entity accounts. CKYC is also mandatory for BO.
(xv)Branch Official visit report is mandatory in case of Legal Entity customers,
to confirm the address of communication & having met the signatories of
account.
(xvi)KYC guidelines for Account Opening forms received from Corporate
Business Correspondence (BC) / Business Facilitators (BF)
CHAPTER - VI
Conclusion:
The banking business is built on the complete KYC of the customers with whom the
Bank is entering into a relationship. In order to avoid the pitfalls of operational,
compliance, legal and reputation risks and consequential losses, it is of paramount
importance to scrupulously adhere to laid down procedures while opening and
monitoring the conduct of customer accounts / transactions. Hence it is crucial that
all concerned, fully understand the rationale of KYC/ AML policies and implement
them in letter and spirit.
The contents of this circular may be brought to the notice of all concerned at the
branch for meticulous compliance. Any laxity / lapse in following the instructions will
be viewed seriously and staff accountability / disciplinary action as deemed fit, and
as appropriate will be taken against the Branch Head / SOM/ ASOM and concerned
staff. Non- adherence to KYC & AML directions or any rule/ procedure for that
matter shall invite strict disciplinary action against the erring officer. It is overall
responsibility of the Branch Head to ensure compliance of the above instructions.
Sd/-
R Venkatasubramaninan
IDBI Bank Ltd. General Manager
Mumbai Branch Operations Support and Policy Department
41
Annexure I
Customer Profile Format (Individuals)
Date:
1 Cust id
2 Account No.
3 Name
4 Residential status Resident / Non resident
5 Occupation Salaried Retired Self employed Housewife Student
Others
Pl specify___________________________
6 If in Salaried
Name of organization
7 If self-employed – nature of Trading
business Manufacturing
Since specify Services
Year Agriculture
Real estate
Other pl specify
8 If self-employed CA
professional Doctor
Lawyer
Stock broker
Consultant
Others Pl specify
9 Annual Income <50000 50000 to 1 lac
1 lac -3 lacs 3 – 5 lacs
5 – 7 lacs 7 – 10 lacs
10 – 15 lacs > 15 lacs
10 Expected transactions in
the account
11 Sources of Income Salary
Business
Agriculture
Others please specify
12 Residence Owned / Leased / Family / Company Provided

Others Pl specify
13 CUSTOMERS SIGNATURE
For Bank’s use
14 Level Level 1 Level 2 Level 3
15 Basis of Level
Categorization
16 SIGNATURE OF BRANCH
HEAD/SOM
42
Annexure II
Customer Profile Format (Non Individuals)
Date:
1 Cust id
2 Account No.
3 Account Title
4 Names and Address(es) of
proprietor/partners/directors
5 Purpose of opening account
6 Trading/Manufacturing/Services/
Nature of Business If Trading/Service please specify the nature of business
( _____________________________________________)
7 Date of Commencement of Registration No. IEC No.
Business / Incorporation Any other
8 Proprietorship/Partnership/Pvt. Ltd. Co/Public
Constitution Ltd.co/Society/Association/Club/HUF/FI/PSU/Trust/LLP/Govt
Dept/ Others pl specify
9
Registered Address
10 Office (Owned/ rented/

Leased
11 Estimated Annual Turnover
(Please Attach a copy of
Latest Annual Report
12 Transaction Profile based on
past trend i.e. Value of
Expected transactions likely to
be routed through the
account in a month/ quarter/
half year/ year. Latest Annual
report to be attached, In case
of new Firm, sales tax return of
the previous quarter to be
obtained or projected sales
may be accepted
13 Details of associate/allied
concerns and nature of their
business
14 Names and addresses of
clients. Details and nature of
foreign collaboration if any.
Pls attach a separate sheet if
required
I certify and declare that the information furnished herein are correct to the best of my knowledge.
15 CUSTOMERS SIGNATURE
(Authorises Signatories in
Account)
For Bank’s use
16 Level Level 1 Level 2 Level 3
17 Basis of Level Categorization
18 SIGNATURE OF BRANCH
HEAD/SOM
43
Annexure III
Customer Declaration for submitting Aadhaar linking/ seeding Aadhaar number and
receiving DBT benefits into the Bank account
D D M M Y Y Y Y
To
The Branch Head
IDBI Bank Ltd
Branch ____________
Dear Sir / Madam,

1. I would request you to please open my account and link my Aadhaar number to the
account for the purpose of receiving subsidies/benefits/services under Direct Benefit
transfer facility.
OR
I am maintaining Account no
and would like to link my Aadhaar number to the account for the purpose of
receiving subsidies/benefits/services under Direct Benefit transfer facility.
2. For the purpose of seeding my account for DBT facility, I have no objection for the
Bank to use my Aadhaar Details to authenticate me from UIDAI.
3. I have been explained about the nature of information that may be shared upon
authentication. I have been given to understand that my information submitted to
the Bank herewith shall not be used for any purpose other than mentioned above or
as per requirement of law.
4. I hereby declare that Aadhaar information has been voluntarily furnished by me and
is true, correct and complete.
Yours faithfully,
Signature / Thumb impression of Customer
Encl:
44
Annexure IV
व�रष्ठ नाग�रक द्वारा स्व-घोषणा / Self-Declaration by Senior Citizen
(न्यन
ू तम मल्
ू य के गैर-न्या�यक स्टांप पेपर पर �नष्पा�दत �कया जाए)
(To be executed on non-judicial stamp paper of minimum value)
मिजस्ट्रे ट/ नोटर� के सम� जन्म �त�थ/ स्थान बताते हुए शपथ-पत्र-नमूना

Specimen Affidavit sworn before a Magistrate/Notary stating date/place of birth
म� .................... सप
ु त्र
ु / पत्नी/ सप
ु त्र
ु ी .................... वतर्मान म� स्थान .......................... का �नवासी
एत�वारा �नम्न�ल�खत घोषणा करता/ करती हूँ :
मेरा जन्म ........... को ................... राज्य के ................. िजले के ……........................ स्थान पर हुआ
था. मेरे पास जन्म-तार�ख तथा स्थान के समथर्न म� कोई दस्तावेजी प्रमाण नह�ं है .
म� शपथ लेता/ लेती हूँ तथा सत्य�नष्ठा से घोषणा/ पुिष्ट करता/ करती हूँ �क मेरे द्वारा �दया गया उक्त
ब्योरा सह� है तथा म�ने �कसी तथ्य को �छपाया नह�ं है अथवा अन�ु चत ढं ग से प्रस्तत
ु नह�ं �कया है .
I …………………S/o W/o D/o ……………….. presently residing at ………………… hereby state
the following:
I was born on ………………. at ……………… situated in the district ………….. in the State
of……….……………….. I have no documentary proof in support of my place and date of
birth.
I take oath and solemnly declare/affirm that the particulars furnished by me above are
correct and that I have not concealed or misrepresented any facts.
स्थान/ Place …………

�दनांक/ Date …………..
वषर् ............. के माह ............... क� �दनांक ............... को सत्या�पत �कया जाता है �क उक्त शपथ-पत्र मेर�
सव�त्तम जानकार� एवं �वश्वास म� सत्य तथा सह� है और उसम� कोई जानकार� छुपाई नह�ं गई है .
Verified on this …………………… day of …………….. of the year …………….. that the contents
of my above affidavit are true and correct to the best of my knowledge and belief, and
nothing in material has been concealed there from.
उक्त शपथ-पत्र क� �वषय-वस्तु को मेरे सम� पढ़ा गया है .

The contents of the affidavit have been read out to me.
अ�भसा�ी/ Deponent
अ�भप्रमा�णत/ Attested
अ�भप्रमाणन प्रा�धकार� के हस्ता�र तथा उसक� आ�धका�रक मुहर/

Signature and official seal of attesting authority
नोट : शपथ-पत्र को मिजस्ट्रे ट/ नोटर� द्वारा अ�भप्रमा�णत �कया जाए (नोटर� के मामले म� नोटर� स्टांप अपे��त होगा)
Note: Affidavit to be attested by the Magistrate/Notary (In case of notary, notarial stamp would be
required)
45
Annexure –V
Self-declaration for current address proof from such customers whose address
as per Aadhaar and Account Opening Form differs
Date :
From : Shri / Smt
Address: :
To
: The Branch Head
: IDBI Bank Ltd
Branch :
Sub: Self - Declaration for Current Address
Dear Sir/Madam
I_____________________________________ desire to open account in your Branch, my current

address is different as stated in my Aadhaar card. I am unable to provide any document as
required by the Bank for proof of my current address because
___________________________________(reason).
My current address as stated in Account Opening form is:

Flat No.& Bldg.Name:
Road No./Name :
Area & Landmark :
City: PIN Code:
State: Country:
Phone:
I am residing at this address since _________ no of years/months.
I therefore request you to please open my account on the basis of this self-declaration for my
current address.
I hereby confirm that any change in address as mentioned above shall be informed by me
to the Bank within two weeks of such change.
Yours Faithfully,
__________________
__________________
46
Annexure VI
CUSTOMER DECLARATION FOR TRANSLATION OF DOCUMENTS THAT ARE IN FOREIGN

LANGUAGE
To,
The Branch Manager
IDBI Bank,
_____________ Branch
Dear Sir/Madam,
I, Mr/Ms. ____________________, wish to open an NRE/NRO/FCNR account with IDBI Bank Ltd.
for which I submit a copy of the following documents:
1. Passport
2. Visa
3. Other documents (please specify) ________________________
As the above documents are in foreign language that is not familiar to the Bank, I hereby
state the basic contents of the same for the information and records of IDBI Bank Ltd.
Particulars Passport Visa

Number
Date of Issue
Place of Issue
Date of Expiry
Type of Visa
I hereby state that by virtue of the above details mentioned/provided by me, I qualify to
attain the status of an NRI. I solemnly affirm that the above stated details are true, correct
and complete to the best of my knowledge and belief. I have not hidden any material
information from the bank to induce them to open the account at my request.
I am aware that the bank has agreed to open and allow me to operate the bank account
solely based on my affirmation as above. In consideration of IDBI Bank Limited agreeing to
open an NRI account in my name on the basis of the above declaration, I hereby keep IDBI
bank Limited, its successor and its officers saved against all losses and damages caused by
opening of the aforesaid NRI account on the basis of the above information provided by me.
Place:________________ Signature
______________________
Date:_________________
Name__________________________
47
Annexure VII
BRANCH OFFICIAL VISIT REPORT FOR FIELD VERIFICATION OF INDIAN

ADDRESS OF NRI CLIENT
I, ________________________________________________ (name and designation of the branch

official) have visited the Indian address mentioned in the account opening form of the NRI
customer___________________________________ (Name of the customer) and confirm that:
A. I have enquired with the NRI customer's family/relatives who have confirmed that the
customer resides at the address mentioned in the account opening form during his visit to
India.
OR
B. The house was locked. Have enquired with the neighbour

Mr./Ms____________________________ _____________________________________ (pl state their
names and addresses) who have confirmed that the customer resides at the address
mentioned in the account opening form during his visit to India.
(Signature of branch official who has met the customer)
Name of the official:

EIN no:
Name of the Branch:
48
Annexure VIII
Format for Self Declaration for Local / Correspondence Address

(Applicable only for Nepali Nationals coming to India for Employment
Date:________
To,
The Branch Head,
IDBI Bank Ltd,
Branch……………..
Sub: Self - Declaration for Local / Correspondence Address
Dear Sir/Madam
□ I_____________________________________ desire to open account in your Branch, and

have submitted ___________________________ document as proof of Permanent
Address to the Branch. I am unable to provide any document as required by the
Bank for proof of my Local / Correspondence address because
___________________________________(reason).
OR
□ I _____________________________________ holding account no._____________________ in
your ________________ Branch, would like to inform you that, my Correspondence
address as per the records of your Bank, has undergone a change and I am unable
to provide any document as required by the Bank for proof of my Local /
Correspondence address because _______________________________(reason).
My local / Correspondence address is:

Flat No.& Bldg.Name:
Road No./Name :
Area & Landmark :
City: PIN Code:
State: Country:
Phone:
I am holding _______________________________________ document (attached herewith) as

proof for above mentioned correspondence address and I am residing at this address since
_________ no of years/months.
I therefore request you to please open my account / update my correspondence address in

your records on the basis of this self-declaration for my local / correspondence address.
I hereby confirm that any change in address as mentioned above shall be informed by me
to the Bank within two weeks of such change.
Yours Faithfully,
__________________
__________________
49
Annexure IX
IDBI Bank Ltd Branch Date
Branch Official Visit Report (BOVR)
I …………………………………………………………………………………… EIN …….…..…………..

Designation ……………..………… have visited the prospective customer........................................
and confirm that:
The prospective customer resides at the address mentioned in the Account Opening
Form and document submitted in support of address proof
The prospective customer is conducting business at the address mentioned in the
Account Opening Form and document submitted in support of address proof
I have enquired with Mr. / Ms. / M/s

……………………………….………….……………………………
………………………………………………………………………..……….…………... (Address) who
have confirmed that the prospective customer is residing / conducting business for past
….. years / months.
My enquiries reveal that the prospective customer is engaged in
………………………………………….. (specify nature of business) and is in this line of
business for the past ………….. years / months.
Signature
*****************************************************************************************************
Confirmation on Televerefication
I………………………………………………… EIN ………..….. Designation ……………..………………

have made a tele-verification of the prospective customer at Phone Number
………………......…. At …………….. Hrs from Branch phone number on ………….…….
Signature
50
Annexure X
QUESTIONNAIRE ON KNOW-YOUR CUSTOMER / ANTI MONEY LAUNDERING / COMBATING

FINANCING OF TERRORISM FOR COOPERATIVE BANKS
I - General Information
1 Name of the Organization
2 Bank License No. & Date
3 License Issuing Authority
4 Address of Registered Office
5 Address of Head Office
6 Website
Name of Principal Officer
Telephone No
7
FAX
E-Mail
Name of the Supervisory
8
Organization
9 If publicly traded, name of
Exchanges
II - General KYC/AML/CFT Policies, Practices and Procedure
1 Do you have a legal and regulatory compliance program that includes a Yes/No/NA
designated compliance officer who is responsible for coordinating and
overseeing the AML program, on a day-to-day basis, which has been
approved by Senior Management?
2 Has your institution developed written policies documenting the processes Yes/No/NA
that they have in place to prevent, detect and report suspicious transactions
that has been approved by senior management/Board? If yes date of
establishment and its last review
3 In addition to inspections by the government supervisors/regulators, do you Yes/No/NA
have an internal audit function or other independent third party that assesses
AML policies and practices on a regular basis?
4 Does your institution have a policy prohibiting accounts/relationships with Yes/No/NA
shell banks? (A Shell bank is defined as a bank incorporated in a jurisdiction in
which it has no physical presence and which is unaffiliated with a regulated
financial group)
5 Does your institution have a policy covering relationships with politically Yes/No/NA
exposed persons consistent with industry best practices?
6 Does your institution have appropriate record retention procedures pursuant Yes/No/NA
to applicable law? If your answer is yes for how long?
7 Does your institution require that its AML policies and practices be applied to Yes/No/NA
all branches and subsidiaries?
8 Whether your AML policy prohibits your institution from opening an Yes/No/NA
anonymous account?
9 Has your Institution had any regulatory or criminal enforcement action Yes/No/NA
resulting from violation of AML laws or regulations
III - Risk Management
1 Whether your institution has a risk-focused assessment of its customer base Yes/No/NA
and transactions of its customers?
2 Does your institution determine the appropriate level of enhanced due Yes/No/NA
diligence necessary for those categories of customers and transactions that
the institution has reason to believe pose a heightened risk of illicit activities at
or through the institution?
3 Whether proper system is put in place to track transactions on the basis of risk Yes/No/NA
classification of countries and you do not entertain transactions with High Risk
51
Categorized Countries?
IV - Know Your Customer, Due Diligence and Enhanced Due Diligence
1 Has your institution implemented systems for identification of its clients, Yes/No/NA
including client information in case of recorded transactions, account
opening such as family name/ name of firm, activities/job, nationality, street
address, telephone number, country/state that issued it?
2 Does your institution have procedures to establish a record for each client Yes/No/NA
noting their respective identification documents and know your client
information collected at account opening? Are copies of identification
documents retained in your possession for reference? If so, how long are the
records retained?
3 Do you collect information and access your customer’s AML policies or Yes/No/NA
practices wherever applicable?
4 Does your institution take steps to understand the normal and expected Yes/No/NA
transactions of its customer’s base on its risk assessment of its customers?
V - Reportable transactions and prevention and detection of transactions with illegally
obtained funds
1 Does your institution have policies for the identification and reporting of Yes/No/NA
transactions that are required to be reported to the authorities?
2 Does your institution screen transactions to exercise Enhanced Due Diligence Yes/No/NA
in respect of Transaction of High Risk Customers?
3 Does your institution have procedures to identify transaction structured to Yes/No/NA
avoid large cash reporting requirements?
VI - Transaction Monitoring
1 Do you have a monitoring program for suspicious or unusual activity that Yes/No/NA
covers funds transfers and monetary instruments (such as traveller’s cheques,
money orders, etc)?
2 Do you have a process/procedure in place for identifying the walk-in Yes/No/NA
customers' and subsequent monitoring process to track their transactions
from Money laundering/ Terrorist Finance angle so as to report to the
regulator?'
3 Is your institution subject to regulatory laws for retention of records of Yes/No/NA
Suspicious Transaction Reports? If so for how long?
4 Within last one year has your institution reported to the regulatory authority Yes/No/NA
any case of money laundering or financing of terrorism?
VII - AML Training
1 Does your institution provide AML training to relevant employees that include Yes/No/NA
identification and reporting of transactions that must be reported to govt.
authorities, examples of different forms of money laundering involving the
bank products and services and internal policies to prevent money
laundering?
2 Do you retain records of training sessions including attendance records and Yes/No/NA
relevant training material used?
3 Does your institution communicate new AML related laws or changes to Yes/No/NA
existing AML related policies or practices to relevant employees?
4 Does your institution have an established audit and compliance review Yes/No/NA
function to test the adequacy of AML and terrorist financing procedures?
5 Do you employ agents to carry out some of your functions and if so do you Yes/No/NA
provide AML training to relevant agents that include identification and
reporting of transactions that must be reported to government authorities,
examples of different forms of money laundering involving your products and
services?
VIII - Documents to be enclosed in support
1 Bank License Yes/No/NA
52
2 Memorandum of Association Yes/No/NA

3 Articles of Association Yes/No/NA
4 KYC / AML Policy Yes/No/NA
5 List of Shareholders with percentage Yes/No/NA
6 List of Directors Yes/No/NA
7 List of Top Management Official Yes/No/NA
53
Annexure XI
Format of Letter to Cooperative Bank
At Par Cheque Facility
IDBI Bank / / 2013-14
Date:
The Secretary / President

…. ………………Bank
Dear Sir
Client ID …… Account No:…….
As you are aware, we at IDBI Bank strive to provide the best of products and services to
esteemed clients like to you in the overall gamut of the regulatory guidelines. Your esteemed
Bank has been availing ‘At Par’ Cheque facility for your own use and also for your customer
and walk in customers for facilitating their remittance and payments.
Keeping in view the systemic and supervisory concerns that emanate from such an
arrangement, Reserve Bank of India (RBI) has advised that such facility should be used only
for the following purposes:
• For your own use.

• For your account holders who are KYC compliant provided that all transactions of `
50,000.00 or more should be strictly by debit to such customer’s account.
• For your walk-in customers against cash for less than ` 50,000.00 per individual.
We also request you to
• Maintain records pertaining to issuance of ‘At par’ cheques covering inter alia
applicant’s name and account number, beneficiary’s details and date of issuance of
the ‘At par’ cheque. You should also make available for inspection, records (in hard
and soft form) in relation to ‘At par’ facility upon a request in this regard is made by us
either in writing or otherwise.
• Maintain sufficient balances/drawing arrangements for purpose of honouring such
instruments.
• Ensure that all ‘At par’ cheques issued by you are crossed ‘account payee’
irrespective of the amount involved.
• Make use of more efficient means of remittances for the customers like NEFT or RTGS
by availing such services by becoming our sub-member as per regulations in this
regard issued by RBI from time to time.
This letter is issued to you in duplicate. We shall be thankful to you to sign in the duplicate of
this letter signifying your acceptance and compliance of the above.
We would like to place on record the value of your relationship and look forward for a
mutually beneficial relationship in the times to come.
Thanking you
Yours faithfully
Branch Head
54
Annexure XII
MANDATE LETTER
Date: -____________
The Branch Manager,
IDBI Bank Ltd.
________________Branch.
Dear Sir,
Mandate to operate Savings Bank/ Current Account No ____________________________

Of_____________________________________________________(names of Account Holders)
I/We hereby request you to honour all Cheques / Orders drawn on the said Account to the
extent of the amount lying in the said account and no overdraft to be permitted. If the same
is signed by Mr. / Ms. ________________________, Son/daughter/wife of
___________________________
I/We further authorize the said person on my / our behalf to make, draw, endorse, accept or
otherwise sign any Bills of Exchange, promissory Notes or other Negotiable Instruments and to
make, draw, endorse or sign cheques or any other negotiable instrument, provided such
investments are covered by the Regulations and are made in the manner provided in the
Regulations.
The Mandate holder shall however, while acting under this mandate ensure that he/she acts
in accordance with the instructions and directions that may be issued from time to time by
the Reserve Bank of India or the Government of India or any other body or authority.
I/We hereby ratify and bind myself / ourselves and confirm to all whatever instructions the
said person has given on my/our behalf. I / We agree to bear any losses or claims that may
arise directly or indirectly on account of the Bank acting on this instruction/mandate and the
instruction given thereof by the said person. I also indemnify and keep the Bank indemnified
from and against all suits, claims, actions, damages or losses that may be suffered or incurred
by the Bank in respect of any act, deed, matter or thing done by the Mandate holder in
respect of the Mandate.
The specimen signature of the Mandate Holder, who has been authorised to operate upon
the account, is given below and the signature has been duly verified by me/us.
This authority shall continue in force until I/We shall have expressly revoked it by a notice in
writing delivered to you.
Yours truly,
_____________________ ______________________ __________________________

(1) (2) (3)
Signature of Account Holder (s)
Signature of the Mandate Holder ______________________________

Name & Address of Mandate
Holder_______________________________________________________
55
Annexure XIII
CID Self Certification Individual
Annexure XIV
Customer Information Updation Form for KYC
56
Appendix I
RISK CATEGORISATION OF CUSTOMERS
Risk Code
(in Finacle) Risk Description
Low Risk (Level 1)

RL101 Individuals (Other than included in High and Medium Risk categories below)
RL102 Government departments and Government owned Companies, regulatory and
statutory bodies
RL103 NOPs / NGOs promoted by United Nations or its agencies
RL104 All other categories of accounts / customer not falling under High and Medium
Risk classifications.
RL105 Accounts of Government functionaries
RL131 Private Fin Corp (Banks-Pvt, Foreign, MF. Insurance)
RL140 Other Financial Coop Insti – DCCB / State Co-Op Bank
RL151 Proprietorship Concern
RL154 Joint Liability Groups
RL161 Self Help Groups
RL162 Other MFIs not engaged in promotion of SHGs
RL193 Non Profit Institute Serving Business Large Educational Institutions
Medium Risk (Level 2)
RL200 All not falling under High / Low moved from other risk
RL201 Non-Bank Financial Institution
RL202 Stock brokerage
RL203 Import/ Export
RL204 Gas Station
RL205 Car/ Boat/ Plane Dealership
RL206 Electronics (wholesale)
RL207 Travel agency
RL208 Used car sales
RL209 Telemarketers
RL210 Providers of telecommunications service, internet café, IDD call service, phone
cards, phone centre.
RL211 Dot-com company or internet business
RL212 Pawnshops
RL213 Auctioneers
RL214 Cash-intensive Businesses such as restaurants, retail shops, parking garages, fast
food stores, movie theatres, etc.
RL215 Sole Practitioners or Law firms (small, little known)
RL216 Notaries (small, little known)
RL217 Secretarial (small, little known)
RL218 Accountants (small, little known)
RL219 Venture capital companies
RL220 Non-resident customers and PIO customers
RL221 High net worth individuals
RL222 Partnership and Propreitorship firms
RL223 PACS, Farmers Service Society, Large Adivasi Society
RL232 Private Limited Company / Public Limited Company
RL240 Other Financial Co-op PCA, SCA RDBs,UCBs
RL252 Joint Families (HUF)
57

RL270 Non-financial Coop Hsg, Emp. Agri, Trade, Mkt Soc
RL293 Non Profit Institute Serving Business Large Educational Institutions
High Risk (Level 3)
RL305 Individuals/entities as per Regulators List
RL306 High-Customer Transaction/ Business Unusual to his Profile
RL307 Customers based in high risk countries/jurisdictions
RL308 Senior Political Party Officials, Members
RL309 Non-resident customers and foreign national
RL310 Embassies/ Consulates
RL311 Off-shore (foreign) corporation/business
RL312 Non face-to-face customers
RL313 High net worth individuals
RL314 Partnership Firms
RL315 Firms with ‘sleeping partners’
RL316 Walk-in-Customers
RL317 Companies having close family shareholding/beneficial ownership
RL318 Complex business ownership structures
RL319 Shell companies
RL320 Investment Management / Money Management Company/ Personal
Investment Company
RL321 Gatekeepers (Accountant/Lawyer/Professional)
RL322 Client Accounts managed by Professionals
RL323 Trusts, Charities, NGO’s/NPOs
RL324 Money Service Business
RL325 Business accepting third party cheque – except Retail Store
RL326 Gambling/gaming
RL327 Dealers in Precious Goods
RL328 Business which is associated with higher levels of corruption
RL329 Customers engaged in Nuclear / Explosives Activities
RL330 Multi-level marketing companies
RL331 Real Estate / Construction Activities and Similar Activities
RL332 Private Limited Company / Public Limited Company
RL333 DNFBP-Casinos, Lottery, Gaming, Betting-online & offline
RL335 PEP- Family Member Means A Parent, Child, Spouse
RL336 PEP-Ministers, Public Servants, Judicial/Defence Etc
RL337 Foreign PEP/International Organisation Etc
RL340 Other Financial Co-op PCA, SCA RDBs, UCBs
RL341 All Other Categories of Accounts / Customer not falling under High / Low
RL343 PACS, Farmers Service Society, Large Adivasi Society
RL344 Prepaid Cards Cash Card/Gift Card/World Currency Card (For CPU usage only)
RL345 Prepaid Cards – WORLD CURRENCY CARD (For CPU usage only)
RL352 Joint Families (HUF)
RL370 Non-financial Coop Hsg, Emp. Agri, Trade, Mkt Soc
RL381 Off-Shore (Foreign) Societies – Trade Missions
RL382 Non Ind Customers based in High Risk Countries / Jurisdictions or Locations
58
Appendix II
The 39 Members of the Financial Action Task Force (FATF)
Argentina
Australia
Austria
Belgium
Brazil
Canada
China
Denmark
European Commission
Finland
France
Germany
Greece
Gulf Cooperation Council*
Hongkong, China
Iceland
India
Ireland
Israel
Italy
Japan
Kingdom of Netherlands
Luxembourg
Malayasia
Mexico
New Zealand
Norway
Portugal
Republic of Korea
Russian Federation
Saudi Arabia
Singapore
South Africa
Spain
Sweden
Switzerland
Turkey
United Kingdom
United States
*The Gulf Cooperation Council (GCC) comprises of the following member countries
Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
59
Appendix III
Indicative list of Suspicious Transactions & Offline Indicative Alerts

Commercial Banking - Indicative Alert Indicators for Branches / Departments
Sr Source of Alert Alert Functional Alert Indicator Indicative Rule/ Scenario
No. Ref Classification
no.
1 Customer CV Customer Customer left Customer did not open
Verification 1.1 Due without opening account after being informed
Diligence account about KYC requirements.
2 Customer CV Customer Customer offered Customer gives false
Verification 2.1 Due false or forged identification / address
Diligence identification / documents or documents
address that appear to be
documents counterfeited, altered and
inaccurate.
3 Customer CV Customer Address found to Address provided by the
Verification 3.1 Due be non-existent or customer is found to be non-
Diligence wrong existent or wrong.
4 Customer CV Customer Difficult to identify Customer uses complex legal
Verification 4.1 Due beneficial owner structures or where it is
Diligence difficult to identify the
beneficial owner.
5 Customer CV Customer Multiple accounts Same Directors/authorised
Verification 4.2 Due by individual signatories/partners of a
Diligence customer/compan company, LLP or partnership
y under various open multiple accounts in
heads in a single the same branch without
branch proper rationale.
6 Law LQ Customer Customer is being Customer has been the
Enforcement 1.1 Due investigated for subject of inquiry from any
Agency Query Diligence criminal offences law enforcement agency
relating to criminal offences.
7 Law LQ Customer Customer is being Customer has been the
Enforcement 2.1 Due investigated for TF subject of inquiry from any
Agency Query Diligence offences law enforcement agency
relating to TF or terrorist
activities.
8 Media Reports MR Customer Adverse media Match of customer details
1.1 Due report about with persons reported in local
Diligence criminal activities media / open source for
of customer criminal offences.
9 Media Reports MR Customer Adverse media Customer did not complete
2.1 Due report about TF or transaction after queries such
Diligence terrorist activities of as source of funds etc.
customer
10 Employee EI 1.1 Customer Customer did not Customer did not complete
Initiated Due complete transaction after queries such
Diligence transaction. as source of funds etc.
11 Employee EI 2.1 Customer Customer is Customer is hurried or nervous
Initiated Due nervous or over / over cautious in explaining
60
Diligence cautious. genuineness of the

transaction.
12 Employee EI 2.2 Customer Customer provides Customer changes the
Initiated Due inconsistent information provided after
Diligence information. more detailed information is
requested. Customer
provides information that
seems minimal, possibly false
or inconsistent.
13 Employee EI 3.1 Customer Customer acting Customer has vague or no
Initiated Due on behalf of a third knowledge about the
Diligence party. transaction(s) in his/her
account; or, customer is
taking instructions from a third
party for conducting
transactions of which he/she
is not aware of.
14 Employee EI 3.2 Customer Multiple customers Multiple customers arrive
Initiated Due working as a together but pretend to
Diligence group. ignore each other.
15 Employee EI 4.1 Customer Customer avoiding Customer travels unexplained
Initiated Due nearer branches distances to open account or
Diligence conduct transactions.
16 Employee EI 4.2 Customer Customer wants to Customer makes inquiries or
Initiated Due avoid reporting tries to convince staff to
Diligence avoid reporting.
17 Employee EI 4.3 Customer Customer could Customer could not explain
Initiated Due not explain source source of funds satisfactorily.
Diligence of funds
18 Employee EI 5.1 Customer Transaction is Transaction is unnecessarily
Initiated Due unnecessarily complex for its stated
Diligence complex. purpose.
19 Employee EI 5.2 Transaction Transaction has no The amounts or frequency or
Initiated Due economic the stated reason of the
Diligence rationale. transaction does not make
sense for the particular
customer.
20 Employee EI 5.3 Transaction Transaction Transaction involving
Initiated Due inconsistent with movement of funds which is
Diligence business. inconsistent with the
customer's business.
21 Employee EI 6.1 Locker Frequent Locker Number of locker operations
Initiated Operations Operations. greater than [N] times in [Y]
Monitoring days.
22 Public PC Customer Complaint Complaint received from
Complaint 1.1 Due received from public for abuse of account
Diligence public for committing fraud etc.
23 Business BA Customer Alert raised by Alert raised against the
Associates 1.1 Due other customer by employed
Diligence agents/subsidiaries agents, business associates,
/associates/other overseas branches,
61
institutions subsidiaries, other institutions

or correspondent banks.
24 Risk RM Transaction Conversion of Conversion of financial assets
Management 4.1 Due financial assets to - single or multiple of value
Diligence a virtual currency. more than INR 5 lakhs in a
calendar month to a virtual
currency / currencies.
25 Typology TY 6.2 Customer Availing loan Fraudsters hand over
Due facility / OD counterfeit FDR to investor
Diligence (Overdraft) facility and subsequently within span
against FDR (Fixed of few days avail loan / OD
Deposit Receipt) facility against original FDR
within few days of and other forged documents.
creation
26 Typology TY Customer Customer Customer provided different
12.1 Due providing different IDs or Email ID, mobile
Diligence details to avoid number of Date of Birth at
linkage. different instances.
27 Typology TY Customer Multiple customers Accounts opened by multiple
12.2 Due working together unrelated customers linked
Diligence by a common PAN, address,
mobile number or email
address.
28 Typology TY Account Routing of funds Transactions greater than IN
12.3 Monitoring through multiple [X1] between more than [N]
accounts. accounts in the same bank
aggregating to more than
[X2] on the same day.
29 Typology TY Account Inward remittance Inward foreign remittance of
10.37 Monitoring of same value the same value from the
from same remitter same remitter (more than [N]
transactions in last [Y] days)
with a minimum transaction
value of each transactions
above [X]
30 Transaction TM Non High Forex Activity Many-to-one remittances
Monitoring 10.1 Customer Authorised Dealer from the perspective of the
Monitoring – Category II (AD clients of bank’s AD-
Cat-II) accounts Category II account holder,
which routes high value forex
remittances through the
bank.
31 Transaction TM Mutilated Transaction(s) Customer/non-account
Monitoring 11.3 Indian involving Mutilated holder attempts to deposit,
Currency Indian Currency exchange or adjudicate
Notes Notes mutilated Indian Currency
Notes at a Bank’s branch or
currency chest, aggregating
to greater that INR [X] value
in a month
32 Account TY 3.4 Typology Repeated small Cash withdrawals in amounts
Monitoring value withdrawals ranging between INR [X1] to
62
in sensitive [X2] greater than [N] times in

locations [Y] days in locations with
known terrorist incidents
33 Account TY Typology GST refund credits Banks should identify
Monitoring 14.1 more than INR [X] customer accounts primarily
and more than [Z] used for the purpose of
percent of total claiming GST refunds, where
account credits such refund credits constitute
during [Y] days. a major proportion of the
account transactions. The
scenario can be further
refined for such GST refunds
being followed by immediate
cash withdrawals/RTGS/NEFT
from the account. Such
accounts should be
monitored and subject to
appropriate due diligence
34 Non Customer TY 5.5 Typology Repeated small Cash withdrawals against
Monitoring value cash international card in amounts
withdrawals ranging between INR [X1] to
against [X2] greater than [N] times in
international card [Y] days in locations with
known terrorist incidents
35 Non Customer TM Transaction Foreign exchange Foreign currency transactions
Monitoring 9.1 Monitoring transactions for more than INR [X] conducted
non-account for non-account holders in a
holder transactions month
36 Non Customer TM Transaction Foreign exchange Foreign remittance
Monitoring 9.2 Monitoring transactions for transactions more than INR
non-account [X] conducted for non-
holder transactions account holders in a month.
37 Risk RM Overseas Non-submission of For ODI remittance(s) of
Management 5.5 Direct documentary value greater than USD [X] or
System Investment evidence by the equivalent where the
(ODI) Indian Party under remitting Indian
suspicious Party/customer has not
circumstances submitted documentary
evidence of the ODI to the
A.D. Bank within the RBI
stipulated timeline from the
date of ODI remittance
38 Customer Due WL Watchlist Established Fraud Reporting established fraud
Diligence 4.1 Cases cases: All fraud cases
including cyber fraud cases
by the bank's customer/third
party who is established to be
involved in the fraud of value
exceeding INR [X].
63
Guidelines on detecting suspicious transactions related to Terror Financing / NGO’s / FICN

Sr Source of Alert Ref Functional Alert Indicator Indicative Rule/ Scenario
No. Alert no. Classification
1 Typology TY 11.5 Account Reg. NGOs a)Any person receiving
Monitoring foreign contribution in its
account (not designated
as FCRA account) or
without obtaining prior
permission from MHA,
[Banks to refer this list as per
Orders issued by RBI (as
advised by MHA) from time
to time]
b) Transfers from a FCRA-

designated account of a
registered person to a Non-
FCRA designated account
of another person.
c) Receipt of foreign
contribution for credit to
any person in India, sent by
donor agencies mentioned
under ‘Prior reference
category’ without prior
permission from MHA.
[Banks to refer this list as per
Orders issued by RBI 9as
advised by MHA) from time
to time].
2 Typology TY 11.6 Account Reg. NGOs Receipt of funds in account
Monitoring of an NGO or payments
from account of an NGO
which is not in line with
stated activity of purpose of
NGO.
3 Typology TY 11.11 Terrorist Transaction involving Transaction involving a
Financing a location with location prior to or
terrorist incident. immediately after a terrorist
incident.
4 Typology TY 11.4 Terrorist Reg North East Bank accounts in which
Financing Insurgency (for money is received from
Nagaland, Assam & companies or firms, which
Manipur). are not linked to the
account holder by way of
business or other legitimate
activity.
5 Transaction TM 11.1 FICN Transaction(s) FICNs attempted to be
Monitoring involving fake India deposited in single/multiple
Currency Notes accounts of the customer
(FICN). greater than [N] FICN notes
64
in a month.
6 Transaction TM 11.2 FICN Transaction(s) FICNs attempted to be
Monitoring involving fake India deposited in single/multiple
Currency Notes accounts of the customer
(FICN). aggregating to greater
than INR [X] value in a
month.
Guidelines on detecting suspicious transactions related to finance components of Afghan drug

business
1 Typology TY 8.5 Afghan Drug Large funds are Round large value wire
Business received from or sent transfers (more than ‘X’
to Afghanistan as amount) received from /
advances for sent to Afghanistan as
export/import without advance for export/import
goods being without goods being
exported /imported. exported / imported.
2 Typology TY 8.6 Afghan Drug Students from other Students from other
Business countries (having countries (having Afghan
Afghan nationality) nationality) staying in India,
staying in India, maintaining more than one
maintaining more account and generating
than one account cash more than Rs.10 lakh
and generating cash in a year.
more than Rs.10 lakh
in a year.
3 Typology TY 8.7 Afghan Drug Person of Afghan Person of Afghan
Business nationality staying in nationality staying in India
India and sending and sending multiple
multiple maximum maximum permissible
permissible amounts amounts to Afghanistan.
to Afghanistan.
4 Typology TY 8.8 Afghan Drug Parties transacting in Parties transacting in goods
Business goods with with Afghanistan which are
Afghanistan which not in the normal line of
are not in the normal their declared business.
line of their declared
business.
5 Typology TY 8.9 Afghan Drug A company is used for A company is used for
Business making payments making payments under
under international international contracts for
contracts for delivery delivery of goods from India
of goods from India to to Afghanistan and the
Afghanistan and the company is not a contract
company is not a party.
contract party.
65
Indicative Alert Indicators for detecting suspicious transactions related to Trade Based Money
Laundering
1 Typology TY 10.31 Trade Based Advance for supply of Advance for supply of
Money goods or services is a goods or services is a major
Laundering major part / part / percentage of the
percentage of the total value of goods or
total value of goods services.
or services.
2 Typology TY 10.8 Trade Based Consignment size is Consignment size is
Money unreasonable unreasonable compared to
Laundering compared to customer profile /
customer profile / Capacity, size of business.
Capacity, size of
business.
3 Typology TY 10.10 Trade Based Underlying goods or Underlying goods or
Money services not in line services not in line with
Laundering with customer's profile customer's profile and
and declared declared business.
business.
4 Typology TY 10.12 Transaction Transactions related Transactions related to
Due to acquisition or sale acquisition or sale of
Diligence of intangibles like intangibles like specialized
specialized software, software, etc.
etc.
5 Typology TY 10.13 Trade Based High proportion of Enhanced Due Diligence
Money high sea for high sea
Laundering sales/merchanting sales/merchanting trades
trades above value [X]
6 Typology TY 10.14 Trade Based Transactions involving Transactions involving third
Money third parties which parties which may not be
Laundering may not be contract contract parties (consignee
parties (consignee and remitter are different)
and remitter are
different)
7 Typology TY 10.16 Trade Based Description of goods Description of goods or
Money or services provided is services provided is vague
Laundering vague
8 Typology TY 10.17 Trade Based Substantial Substantial
Money inconsistencies discrepancies/inconsistenci
Laundering between the es in the description of
information originally goods/services are noticed:
supplied and that a)between the trade
contained in the instrument (L/C etc.) and
documents the submitted trade
documents; or
b)within the trade
documents (when
compared with each
other); or
c)substantial discrepancies
66
are seen in airway bills and

bills of lading in particular
9 Typology TY 10.19 Trade Based Import payments Import payments being
Money being made against made against old bills after
Laundering old bills after lapse of lapse of considerable
considerable period period of time from import
of time from import of of goods, without
goods, without appropriate justification
appropriate and documentation.
justification and
documentation.
10 Typology TY 10.21 Trade Based Receipt of multiple Receipt of multiple
Money payments via internet payments via internet
Laundering payment service payment service provider
provider like Paypal like Paypal etc.
etc.
11 Typology TY 10.22 Transaction Originator/beneficiary Originator/beneficiary
Due information missing in information missing in wire
Diligence wire transfers transfers received by a
customer for more than [N]
times in [Y] days
12 Typology TY 10.23 Trade Based Frequent changes in Frequent changes in
Money payment instructions payment instructions at the
Laundering at the last minute of last minute of the use of
the use of repeatedly repeatedly amended or
amended or frequently extended letters
frequently extended of credit without
letters of credit reasonable justification or
without reasonable for reasons like changes of
justification or for beneficiary or location.
reasons like changes
of beneficiary or
location.
13 Typology TY 10.24 Trade Based Importer of goods or Importer of goods or
Money services not from the services not from the same
Laundering same country from country from where wire
where wire (payment (payment for import)
for import) originated. originated.
14 Typology TY 10.25 Trade Based Routing of import Routing of import payments
Money payments above [X] above [X] value through
Laundering value through India India by a foreign based
by a foreign based entity having operations
entity having and customer base outside
operations and India
customer base
outside India
15 Typology TY 10.26 Trade Based Booking of ticket High value remittances for
Money abroad and frequent ticket/tour
Laundering subsequent packages booked by tour
cancelling and operators
payment made to
third party
67
16 Typology TY 10.27 Trade Based A customer deviates A customer deviates

Money significantly from its significantly from its
Laundering historical pattern of historical pattern of trade
trade activity (i.e. in activity (i.e. in terms of
terms of markets, markets, monetary value,
monetary value, frequency of transactions,
frequency of volume, or merchandise
transactions, volume, type)
or merchandise type)
17 Typology TY 10.28 Customer Transacting parties Transacting parties appear
Due appear to be to be affiliated, conduct
Diligence affiliated, conduct business out of a residential
business out of a address or provide only a
residential address or registered agent’s address
provide only a
registered agent’s
address
18 Typology TY 10.29 Trade Based The LC contains non- The LC contains non-
Money standard clauses or standard clauses or phrases
Laundering phrases or has or has unusual
unusual characteristics
characteristics
19 Typology TY 10.7 Trade Based Amount of advance is Amount of advance is not
Money not in line with normal in line with normal
Laundering international trade for international trade for the
the kind of goods or kind of goods or services
services
20 Typology TY 10.9 Trade Based Underlying goods or Underlying goods or
Money services involved in services involved in the
Laundering the trade transaction trade transaction are of
are of sensitive nature sensitive nature and/or the
and/or the Value/Quantity of goods or
Value/Quantity of services is not easily
goods or services is ascertainable
not easily
ascertainable
21 Typology TY 10.11 Trade Based Transactions not in line Transactions not in line with
Money with normal normal international trade
Laundering international trade for for the given kind of goods
the given kind of & line of business of the
goods & line of parties involved
business of the parties
involved
22 Typology TY 10.20 Trade Based Circuitous route of Circuitous route of
Money shipment/ shipment of shipment/ shipment of
Laundering goods inconsistent goods inconsistent with
with normal normal geographic trade
geographic trade
23 Typology TY 10.30 Trade Based Import of goods from Import of goods from
Money countries where countries where underlying
Laundering underlying goods are goods are not
not manufactured manufactured
68
24 Typology TY 10.15 Trade Based Inward remittance Inward remittance received

Money received from from Exchange House for
Laundering Exchange House for the purpose of trade
the purpose of trade settlements
settlements
25 Typology TY 10.18 Trade Based Over/under invoicing Over/under invoicing of
Money of goods or services goods or services
Laundering
26 Typology TY 10.32 Trade Based Many proprietorship Many proprietorship firms
Money firms importing from importing from same
Laundering same exporter from a exporter from a foreign
foreign land land
27 Typology TY 10.33 Trade Based Advance waivers Advance waivers provided
Money provided or pre- or pre-accepted
Laundering accepted discrepancy (s) by the
discrepancy (s) by the applicant and/or the
applicant and/or the applicant is over-keen to
applicant is over-keen waive discrepancy
to waive discrepancy
28 Typology TY 10.34 Trade Based Re-presentation of Re-presentation of third-
Money third-party party trade/official
Laundering trade/official document immediately
document after a turn-down for
immediately after a discrepancy
turn-down for
discrepancy
29 Typology TY 10.35 Trade Based Submission / payment Submission / payment of
Money of round figure bills round figure bills
Laundering
30 Typology TY 10.36 Trade Based Outward remittance Outward foreign
Money to same overseas remittance to a single
Laundering party unrelated overseas party in
amounts ranging between
INR [X1] to [X2] greater the
[N] times in [Y] days
Guidelines on detecting suspicious transactions related to Shell Companies

Sr. Source of Alert Ref Functional Alert Indicator Indicative Rule/Scenario
No Alert No Classification
1 Typology TY 13.1 Shell Generally no physical Generally no physical

Company presence (other than presence (other than a
Identification a mailing address). mailing address).
2 Typology TY 13.2 Shell Directors are persons Directors are persons of very
Company of very low means – low means – individually
Identification individually they have they have nil or low net
nil or low net worth worth and do not have any
and do not have any substantial source of
substantial source of income.
income.
69
3 Typology TY 13.3 Shell Payments have no Payments have no stated

Company stated purpose, do purpose, do not have
Identification not have reference to reference to goods or
goods or services, or services, or identify only a
identify only a contract or invoice number.
contract or invoice
number.
4 Typology TY 13.4 Shell Transacting businesses Transacting businesses i.e.
Company i.e. entities doing entities doing business with
Identification business with the the company share the
company share the same address or there are
same other address-related
address or there are inconsistencies
other address-related
inconsistencies.
5 Typology TY 13.5 Shell Funds are transferred Funds are transferred from
Company from the company to the company to an
Identification an unusually large unusually large number and
number and different different kind of
kind of beneficiaries beneficiaries (from different
(from different sectors/ businesses)
sectors/ businesses)
6 Typology TY 13.6 Shell Little or no withdrawal Little or no withdrawal from
Company from account for account of a company for
Identification business purposes/no business purposes/no
recurrent business recurrent business expenses.
expenses.
7 Typology TY 13.7 Shell Rotation of funds Transfer of funds between
Company between accounts of account of companies
Identification companies having having nominal authorised
same authorised share capital and having
signatory. same authorised signatory.
Guidelines on detecting suspicious transactions related to Third Party Products (TPD) – Insurance Business
Sl. Indicator No. Alert Indicator Indicative Scenario
No.
1 1 Customer insisting on Customer is reluctant to provide identifying
anonymity information or providing minimal information.
2 2a Transactions involving INR Customer not showing inclination to route the
50000/- and above transaction through his / her account but offers to
pay cash.
3 2b Requirement of PAN Customer requests to be exempted from PAN
requirement.
4 3 Surrender of policy Frequent free look surrenders by customers, Unusual
terminating of policies and refunds.
5 4 Assignment without Assignments to unrelated parties without valid
consideration consideration.
6 5 Request for Policy for higher Request for a purchase of policy in amount
amounts considered beyond his apparent need.
70
7 6 Place of Purchase of policy Purchase of Policy from a place where he does not
reside or is employed.
8 8 Change in Address Frequent request for change in addresses
9 9 Borrowing against the Policy Borrowing the maximum amount against a policy
soon after buying it
10 11 Overpayment of Premium Overpayment of premiums with a request for a
refund of the amount overpaid
Guidelines on detecting suspicious transactions related to Transactions in Demat Accounts.

Sl. Indicator No. Alert Indicator Indicative Scenario
No.
1 27a Non-cooperative clients / Clients whose identity verification seems difficult or
Difficulty in verification. clients that appear not to cooperate.
2 27b Source of funds is not clear / Asset management services for clients where the
not consistent with business source of the funds is not clear or not in keeping with
activity. clients’ apparent standing /business activity.
3 27c Clients based in high risk Clients based in high risk jurisdictions.
jurisdictions.
4 27d Unrelated Transactions Attempted transfer of investment proceeds to
apparently unrelated third parties.
5 27e Transactions with offshore Unusual transactions by CSCs and businesses
banks/financial services undertaken by offshore banks/financial services,
businesses reported to be in the nature of export-
import of small items.
71
Appendix IV
RBI Directions on VKYC and Detailed process on VKYC
No RBI Directions on VKYC Compliance

In case of offline verification of Aadhaar using an
XML file or Aadhaar Secure QR Code, Checks for Aadhaar XML -
1 it shall be ensured that the XML file or QR code 3 days old, Signature
generation date is not older than 3 days validation
from the date of carrying out V-CIP.”
Bank shall ensure to redact or blackout the Aadhar number masking
2
Aadhaar number in terms of Section 16.” is done
Checks PAN capture and
PAN details should be verified from the database
3 auto-verification with
of the issuing authority.
issuing authority.
Live location of the customer (Geotagging) shall
Checks Video Geo
4 be captured to ensure that customer is physically
Tagging
present in India
The official of the Bank shall ensure that
photograph of the customer in the Aadhaar/PAN Checks Face Match with
details matches Aadhaar /PAN
5
with the customer undertaking the V-CIP and the verification with issuing
identification details in Aadhaar/PAN shall match authority.
with the details provided by the customer.
The official of the Bank shall ensure that the
Checks liveliness of
sequence and/or type of questions during video
6 customer, records video
interactions are varied in order to establish that the
of customer
interactions are real-time and not pre-recorded.
All accounts opened through V-CIP shall be made
Checking shall be done
7 operational only after being subject to concurrent
by DVU
audit, to ensure the integrity of process.
Bank shall ensure that the process is a seamless, Fully encrypted call,
real-time, and secured, end-to-end encrypted internet speed check,
audiovisual interaction with the customer and the AI-based liveliness check
quality of the communication is adequate to allow
8
identification of the customer beyond doubt. Bank
shall carry out the liveliness check in order to guard
against spoofing and such other fraudulent
manipulations.
The audiovisual interaction shall be triggered from A call is originated from
9 the domain of the Bank itself, and not from third domain of the Bank
party service provider.”
The activity log along with the credentials of the Proper maintenance of
official performing the V-CIP shall be preserved. Logs along with call
10 Bank shall ensure that the video recording is stored recordings Check for
in a safe and secure manner and bears the date Aadhaar XML - 3 days
and time stamp.” old, Signature validation
72
VKYC Detailed Process
a) VKYC is applicable to individual customers, who have given their consent for
the same.
b) This is applicable only to individual who shall become customer of the Bank
for the first time. VKYC facility is not available to existing customers of the
Bank. On onboarding of customer, system shall do the de-duping check.
c) Accounts of individuals (self-operated account) only will be opened under
VKYC.
d) The individual can chose the branch where he wishes to open his account.
e) For this purpose, the customer will have to fill up an application form online
f) The individual should have both PAN and Aadhaar for opening his account
under VKYC and should be able to sign.
g) The individual should be holding the same mobile phone number which is
recorded with UIDAI and linked to his aadhaar (to get OTP for validating his
aadhaar)
h) The VKYC shall be performed centrally by VKYC cell for all the branches.
Initially the same is housed in Corporate Center
i) The individual starts with filling up account opening form and provides
declarations digitally using the link made available through Bank’s website
/email/ SMS. The individual, during the course of filling up the form shall verify
his mobile number and aadhaar through OTP. After filling up the form the
customer has an option to start a video call or schedule the same later.
j) Once the VKYC officer connects with the individual, his photo, PAN card and
signature shall be captured and required checks on face matching, Pan
matching shall be run in background. Customer shall also undertake liveliness
check wherein he shall answer certain questions of the Bank official. After
completion of VKYC, the digital application along with the KYC recording
shall be sent to DVU for audit. It is estimated that one video call shall take
approximately 5 minutes.
k) After the application and KYC details are checked by DVU, the same shall be
moved to RPU for creation of customer, account, deliverables indent,
signature, photo upload, CKYC and FATCA upload in Finacle.
l) Application form and data is stored digitally for easy retrieval.
m) VKYC officer & Auditor shall have the final authority to accept/reject a KYC
application.
n) The following are the requirements from the Individuals for opening the
account under V-CIP
• Aadhaar
• Phone number linked to the Aadhaar
• Original PAN Card
• White Paper (for signing in the presence of the Bank officials during
video session)
• Black / Blue ink pen
• Individual should be physically present in India.
73
• Good internet network (WIFI or mobile) on smart phone /Laptop/

desktop
o) It could be possible that the individuals might face technical issues, such as
his phone not supporting a video call, Browser incompatibility, Low
bandwidth, Aadhaar – phone number not linked, Damaged / old PAN card
etc. To obviate these issues and to make the customers aware of the
requirement of the Bank, Frequently Asked Questions (FAQ) have been
prepared and hosted in the website of the Bank.
74
Appendix V
List of Circulars consolidated by this Master Circular
Sr Circular No Date Subject
No
1 IDBI BANK/2020- 21 /657 /CO 25.03.2021 Know You Customer (KYC) and Anti Money
/AML / 28 Laundering (AML) - Introduction of New Risk
Level Codes.
2 IDBI BANK/2020- 08.01.2021 Customer Risk Calculator (i-Risk Calculator)
21/514/CO/AML/21
3 IDBI BANK/2020-21/355 /CO /AML 16.10.2020 Anti-Money Laundering – Revised Indicative
/11 Alert Indicators for Branches / Departments
4 IDBI BANK/2020- 01.10.2020 Periodic updation of customer identification

21/328/RBG/BOSPD-145 (Re KYC) - Hosting Data on Intranet
5 IDBI BANK/2019-20/653/CO/CO- 16.03.2020 Anti Money Laundering - Indicative Alert
57 Indicators for Branches / DepartmentsAnti
Money Laundering - Indicative Alert
Indicators for Branches / Departments
6 IDBI BANK/2019- 11.03.2020 Implementation of Section 51A of Unlawful
20/645/RBG/BOSPD-242 Activities Prevention Act (UAPA), 1967-
Updated to ISIL (Da'esh) & Al-Qaida Sanctions
List.Implementation of Section 51A of Unlawful
Activities Prevention Act (UAPA), 1967-
Updated to ISIL (Da'esh) & Al-Qaida Sanctions
List.
7 IDBI BANK/2019- 29.02.2020 Clients / Account Opening Forms
20/618/RBG/BOSPD-226 simultaneously due for Recreation and Re-
KYC Revised ProcessClients / Account
Opening Forms simultaneously due for
Recreation and Re-KYC Revised Process
20/617/RBG/BOSPD-225 Activities Prevention Act (UAPA), 1967 -
Removal of two entries from 1267
listImplementation of Section 51A of Unlawful
Activities Prevention Act (UAPA), 1967 -
Removal of two entries from 1267 list
20/616/RBG/BOSPD-224 Activities Prevention Act (UAPA), 1967-
Addition of one new entry to 1533
Democratic Republic of the Cango (DRC)
Sanctions ListImplementation of Section 51A
of Unlawful Activities Prevention Act (UAPA),
1967- Addition of one new entry to 1533
Democratic Republic of the Cango (DRC)
Sanctions List
10 IDBI bank/2019- 11.02.2020 Implementation of Section 51A of Unlawful
Updated to ISIL (Da’esh) & Al-Qaida
Sanctions List
11 IDBI bank/2019- 06.02.2020 Implementation of Section 51A of Unlawful
Updated to ISIL (Da’esh) & Al-Qaida
Sanctions List
12 IDBI Bank/2019- 30.01.2020 Amendment to RBI Master Directions (MD) on
20/557/RBG/BOSPD-206 KYC Accounts opened with Aadhaar as one
75
of Officially Valid Documents - Self

Declaration for Current Address
13 IDBI Bank/2019- 06.01.2020 KYC Non-Compliant Accounts - Strict
20/525/RBG/BOSPD-195 Adherence by Branches
14 IDBI Bank/2019- 31.12.2019 Updating of Company Identification Number
20/510/RBG/BOSPD-195 (CIN) in Core Banking Software (CBS)
15 IDBI BANK/2019- 17.12.2019 Freeze removal process for Re-KYC identified
20/487/RBG/BOSPD-177 accounts
16 IDBI BANK/2019-20/362/CO/CO- 03-10-2019 RBI Circular - Implementation of Section 51-A
48 of Unlawful Activities Prevention Act (UAPA),
1967- Updates to ISIL (Da?esh) & Al-Qaida
Sanctions List
17 IDBI BANK/2019- 27.09.2019 Changes in e-KYC Aadhaar Authentication
20/338/RBG/BOSPD-46 Software
18 IDBI BANK/2019- 25-09-2019 Updating of Company Identification Number
20/328/BOSPD/BOSPD-42 (CIN) in Core Banking Software
(CBS)Updating of Company Identification
Number (CIN) in Core Banking Software (CBS)
19 IDBI BANK//295/BOSPD/BOSPD-39 31--08-2019 Modification of cash register - Physical & E-
Register
20 IDBI BANK/2019-20/293/CO/CO- 30-08-2019 Due Diligence to be carried out by Branches -
38 Monitoring of accounts of Petrol PumpsDue
Diligence to be carried out by Branches -
Monitoring of accounts of Petrol Pumps
21 IDBI BANK//288/BOSPD/BOSPD-36 29-08-2019 Identification of Beneficial Owner (BO) -
Exemption for Proprietorship Firms
22 IDBI BANK/2019- 24-08-2019 Policy on Know Your Customer (KYC) Norms
20/322/BOSPD/CO-41 and Anti Money Laundering (AML) Measures
23 IDBI BANK/2019-20/248/CO/CO- 02-08-2019 Detecting suspicious transactions related to
32 finance components of Afghan drug business
24 IDBIBANK/220/BOSPD/BOSPD-30 19-07-2019 Non Compliance with KYC / AML Regulations
of RBI
25 IDBI BANK/2019- 03-06-2019 Process for the scanning of customer data for
20/132/BOSPD/CO-21 CKYC (Central KYC Registry)Process for the
scanning of customer data for CKYC (Central
KYC Registry)
26 IDBI BANK/2018- 16.03.2019 KYC & AML Guidelines – Strict Adherence
19/543/BOSPD/BOSPD-57
27 IDBI BANK/2018- 14-12-2018 Strict compliance of KYC/AML guidelines -
19/404/BOSPD/CO-44 reporting of "Attempted Suspicious
Transactions (AST)" by the branches
28 IDBI BANK/2018- 16-11-2018 KYC Documentation - Accounts of Self Help
19/365/BOSPD/BOSPD-38 Group Opened under Deendayal Antyodaya
Yojana- National Rural Livelihoods Mission
(DAY-NRLM)
29 IDBI BANK/2018- 30-10-2018 Use of Aadhaar for opening Bank Accounts
19/337/BOSPD/BOSPD-36 and Aadhaar authentication - Operational
process to be followed by branches after the
judgment of Honorable Supreme Court of
India
30 IDBI BANK/2018-19 15-10-2018 Opening of Current Account by Banks - Need
/314/BOSPD/BOSPD-35 for Discipline Diversion of funds by Borrowers
through Current Account with other Banks
31 IDBI BANK2018- 31-07-2018 Operational Procedure - Uniform Customer
19/195/BOSPD/BOSPD-31 Identification Code (UCIC)
32 IDBI BANK/2018- 14-05-2018 Prohibition on dealing in Virtual Currencies
76
19/85/BOSPD/BOSPD-24 (VCs)
33 IDBI BANK/2018- 17-04-2018 Introduction of New Account Opening Form
19/47/BOSPD/BOSPD-21 (AoF) for Resident Individuals
34 IDBI BANK/2018- 06-04-2018 FIU- India Guidance note on effective process
19/29/BOSPD/BOSPD-18 of STR Detection and reporting in SHELL
Companies
35 IDBI BANK/2017- 27-02-2018 Risk Categorisation of Customers
18/569/BOSPD/BOSPD/44
36 IDBI BANK/2017- 17-01-2018 Making Aadhaar and Permanent Account
18/466/BOSPD/BOSPD/35 Number (PAN) mandatory for establishing
relationship - Amendment to PML Act
37 IDBI BANK/2017- 09-11-2017 Operationalisation of Central KYC Registry

18/359/BOSPD/BOSPD/32 (CKYCR)
38 IDBI BANK/2017- 29-08-2017 Linking of ADHAAR and PAN in authorized

18/269/BOSPD/BOSPD/30 signatories of Non-Individual accounts
39 IDBI BANK/2017- 08.08.2017 Documentation for Nepali Nationals coming
18/242/BOSPD/BOSPD/28 to India for Employment.
40 IDBI BANK/2017- 12-07-2017 Mandatory Aadhar and PAN linkage to
18/199/BOSPD/BOSPD/25 Accounts
41 IDBI BANK/2016- 07-03-2017 BSBDA-SMALL ACCOUNTS (RELAXED KYC) -
17/536/RBG/PBG/188 IMPOSITION OF SYSTEMIC RESTRICTIONS
42 IDBI BANK/2016- 20-12-2016 Compliance to provisions of Master Direction
17/432/BOSPD/BOSPD/58 on Know Your Customer (KYC).
43 IDBI BANK/2016- 13-12-2016 Amendment to Master Direction (MD) on
17/418/BOSPD/BOSPD/54 KYC
44 IDBI BANK/2016- 08-12-2016 Requirement of customer due diligence and
17/414/BOSPD/BOSPD/52 need for maintenance of records
45 IDBI BANK/2016- 19-09-2016 Report of Accounts without PAN
46 IDBI BANK/2016- 27-07-2016 Registered Mobile Number
47 IDBI BANK/2015- 06-02-2016 REPORTING REQUIREMENTS UNDER FOREIGN ACCOUNT
16/541/BOSPD/BOSPD-39 TAX COMPLIANCE ACT (FATCA) AND COMMON
REPORTING STANDARDS (CRS)
48 IDBI BANK/2015- 29-10-2015 REPORTING REQUIREMENTS UNDER FOREIGN ACCOUNT
16/381/BOSPD/BOSPD-32 TAX COMPLIANCE ACT (FATCA) AND COMMON
REPORTING STANDARDS (CRS)
49 IDBI BANK/2015- 23-07-2015 REVISION IN GUIDELINES ON KNOW YOUR CUSTOMER
16/205/BOSPD/BOSPD-25 (KYC) - AMENDMENT IN COMPANY?S ACT -
DOCUMENTS FOR OPENING ACCOUNTS OF COMPANIES
50 IDBI BANK/2015- 16-06-2015 REVISION IN GUIDELINES ON KNOW YOUR CUSTOMER
16/153/BOSPD/BOSPD-22 (KYC) - AMENDMENT TO PREVENTION OF MONEY
LAUNDERING (MAINTENANCE OF RECORDS) RULES,
2005 - ADDITIONAL DOCUMENTS FOR THE LIMITED
PURPOSE OF "PROOF OF ADDRESS"
51 IDBI BANK/2014- 18-12-2014 Changes in Documentation related to
15/498/BOSPD/BOSPD-47 Opening of Account of Private/ Public Limited
accounts due to introduction of Companies
Act 2013
52 IDBI BANK/2014- 02-12-2014 Opening Accounts of Unincorporated
15/468/BOSPD/BOSPD-45 Association or Body of Individuals
53 IDBI BANK/2014- 18-11-2014 Opening Private Limited Company accounts
15/433/BOSPD/BOSPD-44 of One Person Company (OPC)
54 IDBI BANK/2014- 18-11-2014 Clarification of Foreign Address Proof for Non
77
15/432/BOSPD/BOSPD-43 Resident Indian (NRI) Accounts

55 IDBI BANK/2014- 07-11-2014 Clarifications on periodic updation of KYC of
15/410/BOSPD/BOSPD-40 low risk customers and partial freezing of KYC
non-compliant accounts
56 IDBI BANK/2014- 25-08-2014 Introduction of e-KYC - Online Aadhaar
15/269/BOSPD/BOSPD-36 Authentication Software
57 IDBI BANK/2014- 12-08-2014
Revision in Documentation for NRI Accounts
58 IDBI BANK/2014- 30-07-2014 Revision in Guidelines on Know Your Customer
15/224/BOSPD/BOSPD-33 (KYC) Norms /Anti-Money Laundering (AML)
Standards/ Combating of Financing of
Terrorism (CFT)/Obligation of banks under
Prevention of Money Laundering Act (PMLA),
2002 Obligation of banks - Amendment to
Prevention of Money-laundering
(Maintenance of Records) Rules 2013
59 IDBI BANK/2014-15/197/RBG/CO- 15-07-2014 Attempted Suspicious Transactions (indicative
66 list of Alerts)
60 IDBI BANK/2014- 05-07-2014 Clarification on Deviations / Approvals-
15/180/BOSPD/BOSPD-30 Master Circular on KYC and AML dated April
01,2014
61 IDBI BANK/2014- 05-07-2014 Change in Form numbers due to subsequent
15/179/BOSPD/BOSPD-29 changes in Companies Act, 1956 to 2013
62 IDBI BANK/2014- 03-07-2014 Accounts of Trust- Modification in requirement
15/173/BOSPD/BOSPD-27 of Documentation of TASC accounts
63 IDBI BANK/2014- 03-07-2014 Accounts of Foreign Companies having
15/172/BOSPD/BOSPD-26 operations in India - Account Opening
Documents
64 IDBI BANK/2014- 17-06-2014 Clarification on Documentation for
15/136/BOSPD/BOSPD-23 Partnership Accounts
65 IDBI BANK/2014- 17-06-2014 Clarification on Proof of Address
66 IDBI BANK/2013- 6/3/2014 Acceptance of E-Aadhaar as Officially Valid
2014/728/BOSPD/BOSPD-391 Document for opening of accounts under
PML Rules
67 IDBI BANK/2013- 28/01/2014 Legal Guardianship Certificates issued under

2014/645/BOSPD/BOSPD-340 the Mental Health Act, 1987 and National
Trust for the Welfare of Persons with Autism,
Cerebral palsy , Mental Retardation and
Multiple Disabilities Act,1989
68 IDBI BANK/2013- 31/12/2013 Revised Guidelines – Additional documents
2014/581/BOSPD/BOSPD-306 acceptable to identify the age of Senior
Citizens
69 IDBI BANK/2013- 31/12/2013 Revised Guidelines – Additional documents
2014/580/BOSPD/BOSPD-305 acceptable to identify the entity of
Partnership accounts
70 IDBI BANK/2013- 5/12/2013 Capturing Information of ‘Beneficial Owner’
2014/527/BOSPD/BOSPD-273 (BO) in Account Opening Form & Finacle
71 IDBI BANK/2013- 16/11/2013 Change of Name of Clients – Operational
2014/483/BOSPD/BOSPD-262 Process
72 IDBI BANK/2013- 16/11/2013 Revised Guidelines on Branch Head Visit
2014/482/BOSPD/BOSPD-261 Report Requirement & Tele-verification
73 IDBI BANK/2013- 16/11/2013 Due Diligence in Correspondent Banking
2014/480/BOSPD/BOSPD-259 Relationship
74 IDBI BANK/2013- 21/10/2013 Introduction of Account Opening
78
14/427/BOSPD/BOSPD-236 Memorandum for Account Opening

75 IDBI BANK/2013- 30/09/2013 Opening of Accounts of Foreign Students
14/391/BOSPD/BOSPD-224 studying in India – Revised Guidelines
76 IDBI BANK/2013- 19/09/2013 Risk Categorization of Clients engaged in
14/372/BOSPD/BOSPD-217 Real Estate / Building Construction / Activities
of similar nature, Real Estate Agents and
Brokers
77 IDBI BANK/2013- 6/8/2013 KYC & AML – Document Verification &
2014/277/RBG/BO-171 Attestation- Revised Guidelines
78 IDBI BANK/2013- 3/8/2013 Seeding of Aadhar number – Revised
2014/273/RBG/BO-168 Guidelines
79 IDBI Bank/2013-14/265/ 1/8/2013 Risk rating of Products and Services from
RBG/CO/163 Money Laundering (ML)/ Terrorist Financing
(TF) angle
80 IDBI BANK/2013- 30/07/2013 Periodical Updation of KYC (Know Your
2014/257/RBG/BO-157 Customer) – Revised Guidelines
81 IDBI BANK/2013- 27/07/2013 Enhanced Due Diligence on the Accounts of
2014/247/RBG/BO-152 Cooperative Banks
82 IDBI BANK/2013- 20/07/2013 Address Change by Customers – Revised
83 IDBI BANK/2013- 27/06/2013 Revised Guidelines – Documentation
2014/181/RBG/BO-109 requirement for opening accounts of Limited
Liability Partnership (LLP)
84 IDBI BANK/2013-14/142/RBG/BO- 10/6/2013 Revision in description of Risk code RL 323
91 relating to Trust / NGOs / NPOs/ Unregistered
Clubs / Organisations receiving donations
85 IDBI BANK/2013-14/141/RBG/BO- 10/6/2013 Capturing Information of Power Attorney
90 Holder (POA) & Mandate Holder (MH) in
Finacle
86 IDBI BANK/2013-14/93/RBG/BO-65 14/05/2013 Seeding of Aadhaar number / data to
Operative Accounts of Customers
87 IDBI BANK/2013-14/55/RBG/BO-47 26/04/2013 Process flow for reactivation of suspended
Customer Ids
88 IDBI BANK/2013-14/44/RBG/BO-39 22/04/2013 Small Account – Opening of Basic Banking
Account and Accounts under Financial
Inclusion
89 IDBI BANK/2012- 11/03/2012 Misuse of Savings Bank Account for non-
2013/663/RBG/BO-374 savings purposes – Actionable by branches
90 IDBI BANK/2012- 09/03/2013 Capturing Information of ‘Beneficial Owner’
2013/660/RBG/BO-371 (BO) in Account Opening Form & Finacle
91 IDBI BANK/2012- 01/03/2013 Modification in KYC documentation for
2013/645/RBG/BO-362 Corporate Payroll Accounts
92 IDBI BANK/2012- 01/03/2013 Obtaining of Permanent Account Number
2013/645/RBG/BO-361 (PAN) while Opening of Accounts & while
Customer Information Updation Exercise
93 IDBI BANK/2012- 01/03/2013 Witnessing of the Accounts opened by
2013/645/RBG/BO-360 Illiterate person(s) using Thumb Impression
94 IDBI BANK/2012- 01/03/2013 Updation of Area code in the customer
2013/640/RBG/BO-358 Master Data
95 IDBI BANK/2012- 06/02/2013 Clarification on Documentation required for
2013/600/RBG/BO-337 Opening of Accounts
96 IDBI BANK/2012- 06/02/2013 Modifications in existing provisions on Know
2013/599/RBG/BO-336 Your Customer (KYC) norms
97 IDBI BANK/2012- 17/12/2012 Opening of Accounts of Foreign National who
2013/559/RBG/BO-319 come to country for Employment
98 IDBI BANK/2012- 17/12/2012 Modifications in existing provisions on Know
79
2013/504/RBG/BO-286 Your Customer (KYC) norms

99 IDBI BANK/2012- 04/12/2012 Processing of Miscellaneous Requests at
2013/482/RBG/BO-272 Branches
100 IDBI BANK/2012- 07/11/2012 Opening of Savings bank account by Self
2013/441/RBG/BO-244 Help Groups (SHGs)
101 IDBI BANK/2012- 06/11/2012 Clarifications – Accounts held in joint names
2013/436/RBG/BO-242 of Illiterate persons
102 IDBI BANK/2012- 13/09/2012 Periodical Updation of Customer
13/335/RBG/CO/189 Identification Data Know Your Customer
(KYC) norms/Anti Money Laundering (AML)
Measures
103 IDBI BANK/2012- 11/09/2012 Modifications of Product feature and change
13/325/RBG/PBG/182 of Nomenclature in Sabka Basic Saving
Account & Sabka Savings Account
104 IDBI BANK/2012- 16/08/2012 Opening of Accounts Foreign Students
2013/265/RBG/BO-145 Studying in India, Foreign Nationals on tour to
India & Foreign National who come to
country for Employment
105 IDBI BANK/2012- 08/08/2012 Accounts of Migrant Labour, Street Hawkers
2013/252/RBG/BO-139 and other poorer sections of the society -
Simplified Uniform Savings Bank Account
opening form
106 IDBI BANK/2012- 06/08/2012 Unincorporated Joint Ventures – Opening of

2013/248/RBG/BO-135 Accounts and Precautions
107 IDBI BANK/2012- 13/07/2012 Checking of Proposed customers name in
2013/209/RBG/BO-109 Caution Advice list of RBI & IBA
108 IDBI BANK/2012- 0907/2012 Obtaining of Aadhaar Number issued by
2013/201/RBG/BO-103 Unique Identification Authority of India (UIADI)
in existing and new Client IDs
109 IDBI BANK/2012- 14/06/2012 Online Verification of Permanent Account
2013/144/RBG/BO-70 Number (PAN) at time of Acceptance of
Account Opening Form at Branches
110 IDBI BANK/2012- 12/06/2012 Multiple Customer Id Identification process –

2013/140/RBG/BO-69 Finacle Menu
111 IDBI BANK/2012- 10/05/2012 Aadhaar Enabled Bank Accounts (AEBA) –
13/87/RBG/PBG/48 Aadhaar Enabled Payment System (AEPS)
112 IDBI BANK/2012-2013/88/RBG/BO- 10/05/2012 Intra –Bank Deposit Account Portability
49
113 IDBI Bank/ 2012-13/ 46/RBG/ CO/ 18/04/2012 Know your Customer (KYC) Guidelines-
28 Accounts of Proprietary Concerns
114 IDBI BANK/2011- 26/03/2012 Risk Categorization of Customers – Capturing
12/491/RBG/CO/246 in Finacle
115 IDBI BANK/2011- 2/3/2012 Relaxation on KYC & AML and Power to
2012/454/RBG/BO-222 Accept Alternate Documents
116 IDBI BANK/2011- 28/02/2012 Relaxation in KYC Norms – Accounts of
2012/449/RBG/BO-218 Proprietary Concerns, Provident Fund Trusts of
Large Corporates, Trusts promoted by Large
Corporates and accounts of Private and
Public Limited Companies
117 IDBI BANK/2011- 2/2/2012 Deviation Matrix on (KYC) & (AML) - revised
118 IDBI BANK/2011- 15/11/2011 Accounts of Migratory Workers - Relaxation in
2012/300/RBG/BO-143 KYC Norms
119 CPU/2011-12/234 11/10/2011 RBI Inspection 2011- Adherence to KYC/AML
80
norms
120 IDBI BANK/2011- 10/10/2011 Know Your Customer guidelines – Revised
2012/226/RBG/BO-105 guidelines on acceptance of letter issued by
Unique Identification Authority of India
(Aadhaar letter)
121 CPU/2011-12/77 28-09-2011 KYC requirements and facilitating opening/
operation of accounts of the bank customers.
122 IDBI BANK/2011- 16/08/2011 Certificate of Commencement of Business for
2012/174/RBG/BO-75 Companies – Clarifications
123 IDBI BANK/2010- 25/02/2011 Compliance of KYC guidelines
2011/416/RBG/BO-193
124 CPU/2010-11/74 7/1/2011 Screening of customer name against List of
Terrorist Individuals / Organisation under
UNSCR on Taliban / Al-Qaida Organisation
125 IDBI BANK/2010- 25/02/2011 Proprietorship Accounts – Requirement of Two
2011/415/RBG/BO-192 documents in the name of Proprietary
Concern for Entity / Establishment Proof.
126 IDBI BANK/2010- 25/02/2011 Opening of Salary Accounts-Obtaining
2011/414/RBG/BO-191 Additional Document
127 IDBI BANK/2010-2011/7/RBG/BO-3 5/4/2010 Prevention of Money-laundering Amendment
Rules, 2009 – Obligation of banks / Financial
Institutions
128 IDBI BANK/2009-10 /228/RBG/BO- 20/11/2009 Adherence to KYC/AML guidelines while
96 opening and conduct of the accounts of
Multi-Level Marketing firms
129 CPU/2010-11/72 9/11/2009 KYC / AML Norms
130 CPU/2009-10/71 4/5/2009 KYC Norms compliance for e-UBSBU Branches
131 CPU/2008-09/69 29-09-2008 Compliance with Know Your Customer [ KYC ]
Norms
132 CPU/2008-09/68 1/7/2008 Know Your Customer [ KYC ] AML Master
Circular
133 CPU/2008-09/67 9/6/2008 RBI circular dated 22/05/08 AML Act 2002 -
Obligation of Banks
134 CPU/2007-08/63 18-02-2008 RBI Letter on KYC Norms
135 CPU/2007-08/62 8/2/2008 Review of KYC Guidelines
136 CPU/2007-08/52 24-09-2007 UN caution list on Iran’s nuclear and ballistic
missile program
137 CPU/2007-08/51 19-09-2007 Customer Profiling and Risk Categorisation
138 CPU/2007-08/50 19-09-2007 List of Al-Qaida and Taliban terrorist
139 IDBI BANK/2006-07 /176/RBG/BO- 6/2/2007 Registration under Shops & Establishment Act
34
140 IDBI BANK/2006-07 /79/RBG/BO- 26/09/2006 KYC And AML Compliance
22
141 IDBI BANK/2006-07 /28/RBG/BO- 19/05/2006 Compliance with KYC and Anti Money
10 Laundering Guidelines.
142 CPU/2005-06/41 10/03/2006 Prevention of Money Laundering Act 2002 -
reporting obligations
143 Circular No 123 29/03/2005 HUF as Partner
144 Circular No 116A 01/10/2004 KYC & Anti-Money Laundering Compliance
145 Circular No 116 02/12/2004 Requirement of Photo in bank accounts
146 Circular No 111 03/09/2004 Anti-Money Laundering - Report for
Monitoring
147 Circular no 99 29/05/2004 Anti-Money Laundering Guidelines
148 Circular no 98 29/05/2004 Know your Customer (KYC)-compliance
81

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IDBI BANK/2021-22/01/RBG/BOSPD/01 April 01, 2021

Dear Sir / Madam

Master circular on Know Your Customer (KYC) norms and

Banks around the world are increasingly recognizing the importance of

Instructions issued by Statutory Authorities / Government of India / RBI / other

A. This master circular is an attempt to present the operational guidelines and

Know your customer is important aspect in terms of legislative and Regulatory

A. For the purpose of KYC, a ‘Customer’ is defined as :

2. A ‘Beneficial Owner’ (BO). Procedure to identify BO in different types of

1. Customer Acceptance Policy (CAP)

Branches KYC to be certified by

2. Customer Identification Procedure (CIP)

2.2 Sufficient information needs to be obtained to the satisfaction of the Bank,

2.4 CIP needs to be carried out in the following cases: -

2.6 For customers that are legal persons or entities –

2.8 Although customer has to be identified by using reliable, independent source

Table – A Acceptability as Proof for

vii. Excise & Customs Dept

2.9 Aadhaar can be accepted as a voluntary identity document, subject to the

2.10 PAN of the authorised signatories in non- individual accounts should be

2.11 Documentation for Individual Accounts:

under Section 7 of Aadhaar (Targeted delivery of Financial & other subsidies,

Provided further that in case biometric e-KYC authentication cannot be performed

(b) From an individual who is going to establish an account based relationship

Bank shall carry out Aadhaar authentication / offline- verification of an individual

Accordingly, branches are advised to accept self-declaration as per Annexure- V

Stage 2 : VKYC with the Bank Employee

(c) Documentation from an Individual who is a beneficial owner:

(d) Documentation from an Individual who is a Manager, Officer, or other employee,

(e) In Case an Individual is a prisoner in Jail:

i. There must be a specific consent from the customer for authentication

2.12 Documentation for Minor Accounts (operated by Guardian – Natural or Legal)

i. Pan or Form 60 of the Guardian

2.13 Documentation for Minor Accounts (self-operated by Minor)

i. Latest coloured Photograph of Minor

2.14 Documentation for Illiterate Accounts

2.15 Documentation for Senior Citizen Account

iv. Latest coloured Photograph of Individual

2.16 Documentation for Corporate Payroll account

2.18 Documentation for NRI Accounts Opened through branch

• Person of Indian Origin (PIO) card or Overseas Citizen of India (OCI)

2.20 Documentation for Acceptance of Self Attested documents in case of

(iii) Special Instructions:

Resident Account with Label Code FRNATEMP (Any type of operative

2.23 Documentation for Nepali Nationals coming to India for Employment

• copy of the identity card of the employee duly attested by the

2.24 Documentation for HUF Accounts

i. PAN or Form 60 of the Trust.

ix. An Officer of the Branch shall undertake contact point verification

2.26 Documentation for Unincorporated Association or body of individuals.

Unregistered trusts/partnership firms shall be included under the term

2.27 Documentation for Self Help Groups (SHGs)

i. A certified copy of any one of the OVDs containing details of identity

Opening of Savings account of Federation of SHGs at village, Gram Panchayat,

2.28 Documentation for Sole Proprietorship

i. For opening an account in the name of a sole proprietary firm, identification

the proprietary concern by any professional body incorporated under

2.29 Documentation for Partnership Accounts