NCLT: Suspended Directors Who are Prospective Resolution Applicants Cann’t Access Valuation Reports  ||  Supreme Court Clarifies Test For Granting Bail to Accused Added at Trial under Section 319 CrPC  ||  SC: Fresh Notification For Vijayawada ACB Police Station not Required After AP Bifurcation  ||  SC: Studying in a Government Institute Does Not Create an Automatic Right to a Government Job  ||  NCLT Mumbai: CIRP Claims Cannot Invoke the 12-Year Limitation Period For Enforcing Mortgage Rights  ||  NCLAT: Misnaming Guarantor as 'Director' in SARFAESI Notice Doesn't Void Guarantee Invocation  ||  Jharkhand HC: Mere Breach of Compromise Terms by an Accused Does Not Justify Bail Cancellation  ||  Cal HC: Banks Cannot Freeze a Company's Accounts Solely Due To ROC Labeling a 'Management Dispute'  ||  Rajasthan HC: Father’s Rape of His Daughter Transcends Ordinary Crime; Victim’s Testimony Suffices  ||  Delhi HC: Judge Who Reserved Judgment Must Deliver Verdict Despite Transfer; Successor Can't Rehear    

Amendment to the Master Direction (MD) on KYC - Instructions on Wire Transfer- (Reserve Bank of India) (04 May 2023)

MANU/RMIC/0055/2023

Banking

1. This is with reference to the Master Direction (MD) on KYC dated February 25, 2016, as amended from time to time, in terms of which Regulated Entities (REs), inter alia, have to undertake certain measures while dealing with the Wire Transfer.

2. In this regard, on a review, it has been decided to amend the MD on KYC to update the instructions on Wire Transfer (Section 64 of the MD), also aligning the same with the relevant FATF Recommendation. The amended instructions of Section 64 of the MD on KYC are provided in the annexure for reference. Further, definitions of the relevant terms used in the amended Wire Transfer instructions are being added in Section 2 ("Definitions") of the MD on KYC.

3. The amended provisions shall come into force with immediate effect.

Tags : AMENDMENT   MASTER DIRECTION   KYC  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved