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SB Order 12/2023 Corrigendum: Revision of KYC / AML /CFT norms in respect of POSB

SB Order No. 12/2023 Corrigendum: Subject: Revision of Know Your Customer (KYC) / Anti Money Laundering (AML) / Combating the Financing of Terrorism (CFT) norms in respect of POSB — Reg.


Download SB Order 12/2023 Corrigendum in PDF


No. FS-10/22/2023-FS-DOP Govt. of India Ministry of Communications Department of Posts (F.S. Division) Dak Bhawan, New Delhi — 110001 Dated: 29.05.2023


To All Heads of Circles / Regions

Subject: Revision of Know Your Customer (KYC) / Anti Money Laundering (AML) / Combating the Financing of Terrorism (CFT) norms in respect of POSB — Reg.


Kindly refer the SB Order No. 12/2023 dated 25.05.2023 issued in connection with the subject cited above. In para 2.4.1 (iii) of the Master Circular No. 2 attached with the said order, “does not exceed” may be read as “exceeds”.

2. Accordingly, para 2.4.1 (iii) may be read as High Risk - Where the customer opens account or applies for purchase of certificates or applies for credit of maturity/prematurity value of any existing savings instrument with an amount exceeding  10 lakh and balance in all accounts and certificates exceeds Rs. 10 lakh.

3. This may be circulated to all the concerned.

4. This is issued with the approval of Competent Authority.


(TC VIJAYAN)

Asst. Director (SB-I)


Copy to:-

1. Sr. PPS to Secretary (Posts)

2. PS to Director General Postal Services.

3. PPS/ PS to Addl. DG (Co-ordination)/Member (Banking)/Member (O)/Member (P)/ Member (Planning & HRD)/Member (PLI)/Member (Tech)/AS & FA

4. Addl. Director General, APS, New Delhi

5. Chief General Manager, BD Directorate / Parcel Directorate / PLI Directorate

6. Sr. Deputy Director General (Vig) & CVO) / Sr. Deputy Director General (PAF)

7. Director, RAKNPA / GM, CEPT / Directors of all PTCs.

8. Director General P & T (Audit), Civil Lines, New Delhi

9. Secretary, Postal Services Board/ All Deputy Directors General

10. All General Managers (Finance) / Directors Postal Accounts / DDAP

11. The Under Secretary, MOF (DEA), NS-II Section, North Block, New Delhi.

12. The Joint Director & HOD, National Savings Institute, ICCW Building, New Delhi-110002.

13. All recognized Federations / Unions / Associations

14. Guard File



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