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Extending Master Direction – Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies

RBI/2019-20/235
DOR.NBFC (HFC).CC.No.111/03.10.136/2019-20

May 19, 2020

To

Housing Finance Companies

Madam/ Sir,

Extending Master Direction – Know Your Customer (KYC) Direction, 2016 to Housing Finance Companies

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.

2. It has been decided to extend the Master Direction – Know Your Customer (KYC) Direction, 2016 to all Housing Finance Companies.

3. Instructions/ guidelines/ regulations contained in the circulars mentioned in the Appendix, issued by National Housing Bank (erstwhile regulator of Housing Finance Companies) stand repealed.

Yours faithfully,

(Manoranjan Mishra)
Chief General Manager


Appendix – List of circulars repealed

S.No.Circular numberDate of the circularSubject
1NHB(ND)/DRS/Pol-No.19/2006November 27, 2006Suggestions made by the participants at the meeting of principal officers at Bangalore on September 15, 2006 – Clarifications.
2NHB(ND)/DRS/Misc.Circular-1/ 2010January 25, 2010KYC Norms/ AML Standards/ CFT.
3NHB (ND)/DRS/Misc.Circular-No.4/2010-11May 06, 2011Guidelines on KYC & AML measures for HFCs.
4NHB(ND)/DRS/Pol-No.39/2010-11May 19, 2011List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999) and 1822 (2008) on Taliban/ AL-Qaida Organisation.
5NHB(ND)/DRS/Pol-No.42/2011-12October 11, 2011List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999) and 1989 (2011) on Taliban/ AL-Qaida Organisation.
6NHB(ND)/DRS/Pol-No.47/2011-12March 29, 2012List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999), 1988 (2011) and 1989 (2011) on Taliban/ AL-Qaida and Associated Individuals and Entities.
7NHB(ND)/DRS/Pol-No.52/2012-13September 26, 2012List of Terrorist Individuals/ Organisations – under UNSCR 1267 (1999), 1988 (2011) and 1989 (2011) on Taliban/ AL-Qaida and Associated Individuals and Entities.
8NHB(ND)/DRS/Pol.Circular No.59/2013-14January 24, 2014Central Know Your Customer Registry.
9NHB(ND)/DRS/Pol-No.68/2014-15January 14, 2015Inter-Governmental Agreement (IGA) with United States of America (US) under Foreign Accounts Tax Compliance Act (FATCA) – Registration.
10NHB(ND)/DRS/Policy Circular No.76/2016-17November 01, 2016Central Know Your Customer Registry (Corrected)
11NHB/ND/DRS/Policy Circular No.94/2018-19March 11, 2019Guidelines on KYC & AML Measures for HFCs.