a) RBI vide notification no. RBI/2019-20/235 DOR.NBFC (HFC).CC.No.111/03.10.136/2019-20 dated May 19, 2020 has Extending Master Direction – Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies.
b) The Master Direction – Know Your Customer (KYC) Direction, 2016 issued by the Bank has consolidated directions on Know Your Customer (KYC), Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) and is applicable to all Regulated Entities of the Bank. In this connection, attention is invited to our Press Release no.2019-2020/419 dated August 13, 2019 on transfer of regulation of Housing Finance Companies to Reserve Bank of India.
c) It has been decided to extend the Master Direction – Know Your Customer (KYC) Direction, 2016 to all Housing Finance Companies.
d) Instructions/ guidelines/ regulations contained in the circulars mentioned in the Appendix, issued by National Housing Bank (erstwhile regulator of Housing Finance Companies) stand repealed.
e) The entire circular can be accessed online on portal of RBI.
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16 Jul 2020
10 May 2020