The National Bank for Agricultural Rural Development (NABARD) on May 30, 2023, issued an Amendment to the Master Direction (MD) on KYC.
The following has been amended namely: -
• RBI has amended/ incorporated/ updated certain instructions in the Master Direction on KYC in light of the following:
i. Recent amendments carried out in the Prevention of Money Laundering (Maintenance of Records) Rules, 2005
ii. Government of India orders on Procedure for Implementation of Section 12A of the Weapons of Mass Destruction (WMD) and their Delivery Systems (Prohibiting of Unlawful Activities) Act, 2005
iii. FATF Recommendations
iv. Internal review by RBI
• The copies of the RBI amendments and the complete Master Direction on KYC updated as on May 04, 2023, are attached to the document.
[Notification No. EC No. 108/DoS-30/2023]
