Know Your Customer Policy (KYC)

Broadly KYC policy consists of following four key elements

• Customer Acquisition Policy (CAP)
• Customer Identification Procedures (CIP)
• Monitoring of Transactions; and
• Risk Management

The circulars in vogue as on date and those issued in future will be implemented in the Company in their true letter and spirit and required due diligence in this regard will be done. Company shall obtain copy of at least two Officially Valid Documents (OVD) to identify and for proof of address of the customer.

The company shall be bound by all the rules and regulations of Reserve Bank Of India wrt Know Your Customer Policy is concerned. The companies shall ensure that the details of the customers are updated from time to time. This should, however, not result in unnecessary harassment of customers.

Company shall not do any transaction in Benami names. A latest photograph of the customer shall be obtained at the time of acceptance of customer.

There shall be a designated permanent director responsible for ensuring overall KYC compliance and for reporting KYC compliance to RBI.
Certified copy of any two of the following officially valid document) for Proof of Identity and Address will be obtained:

• Proof of Identity
• Aadhar card
• Pan Card
• Govt. employee card with DOB
• Passport
• Class X Board Certificate with DOB
• Birth certificate issued by municipal authority
• Proof of Address
• Aadhar card
• Passport
• Voter ID Card issued by Election Commission of India
• Utilities Bill (Electricity/water/telephone.
• Copy of registered Sale Deed/Lease Deed

Where ‘simplified measures’ are applied for verifying the identity of customers the following documents shall be deemed to be 'officially valid documents: Identity card with applicant's Photograph issued by Central/State Government Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, and Public Financial Institutions;

Letter issued by a gazetted officer, with a duly attested photograph of the person. Where ‘simplified measures’ are applied for verifying for the limited purpose of proof of address the following additional documents are deemed to be OVDs.

Utility bill which is not more than two months old of any service provider (electricity, telephone, postpaid mobile phone, piped gas, water bill);

Property or Municipal Tax receipt;

Bank account or Post Office savings bank account statement;

Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;

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;