**Policy Summary:**
This circular, reference number RBI202122144 DOR.AML.REC.7414.01.001202122 dated December 30, 2021, issued by the Reserve Bank of India (RBI), extends the relaxation regarding periodic Know Your Customer (KYC) updation restrictions on account operations for non-compliance until March 31, 2022. This extension is in response to the ongoing uncertainty caused by new variants of COVID-19. The circular refers to the earlier circular DOR.AML.REC 1314.01.001202122 dated May 5, 2021, on the same subject. Regulated entities should take note of this extension. For further information, contact Prakash Baliarsingh, Chief General Manager, Department of Regulation, Central Office, Central Office Building, 13th Floor, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001. Phone: 022-22701203; Fax: 022-22701239; Email: cgmamlrbi.org.in; Website: www.rbi.org.in.
Key Entities Referenced
Covid19: Coronavirus disease 2019, a global pandemic.
RBI: Reserve Bank of India, the central bank of India
KYC: Know Your Customer, a process used by businesses to verify the identity of their clients.
DOR.AML.REC.7414.01.001202122: RBI Circular number related to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
DOR.AML.REC 1314.01.001202122: RBI Circular number related to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
Prakash Baliarsingh: Chief General Manager at the Reserve Bank of India (RBI).
Mumbai, Maharashtra: City in India, location of Central Office of Department of Regulation, Reserve Bank of India (RBI)
March 31, 2022: Date until which relaxation on KYC restrictions is extended.
RBI/2021-22/144
DOR.AML.REC.74/14.01.001/2021-22 December 30, 2021
The Chairpersons/ CEOs of all the Regulated Entities
Madam/Dear Sir,
Periodic Updation of KYC – Restrictions on Account Operations for Non-compliance
Please refer to our circular DOR.AML.REC 13/14.01.001/2021-22 dated May 5, 2021, on the
captioned subject.
2. In view of the prevalent uncertainty due to new variant of Covid-19, the relaxation provided in
the aforementioned circular is hereby extended till March 31, 2022.
Yours faithfully,
(Prakash Baliarsingh)
Chief General Manager
ब��कंग िवभाग, क��ीय कायालर् य, क��ीय कायार्लय भवन, 13व� मंिजल, शहीद भगत �संह मागर्, मुंबई – 400 001
फोन: 022-22701203, फैक्स: 022-22701239, ई-मेल: cgmaml@rbi.org.in, वेबसाइट: www.rbi.org.in
Department of Regulation, Central Office, Central Office Building, 13th Floor, Shahid Bhagat Singh Marg, Fort, Mumbai – 400 001
Phone : 022-22701203, Fax : 022-22701239, E-mail : cgmaml@rbi.org.in, Website : www.rbi.org.in
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