Foreign
Tourists can Change Money on the Basis of Passport Copy and Indian Immigration
Stamp Visa
This will Serve as both Proof of Name as well as Proof
of Address
[RBI
Circular No. 60 dated 22nd December 2011]
Sub:
Know Your Customer (KYC) norms/Anti-Money
Laundering (AML) standards / Combating the Financing of Terrorism (CFT)
Obligation of Authorised Persons under Prevention of Money Laundering Act,
(PMLA), 2002, as amended by Prevention of Money Laundering (Amendment) Act,
2009 – Money changing activities
Attention
of Authorised Persons is invited to F-Part-II of the Annex to the A.P. (Dir Series) Circular No. 17 [A.P. (FL/RL Series) Circular
No. 04] dated November 27, 2009.
2. In view of the
problems faced by the money changers while obtaining documents towards address
proof from foreign tourists, it has been decided to amend certain instructions
contained in the aforementioned Part. The amended instructions are given in the
Annex.
3. All the other
instructions contained in the A.P. (DIR Series) Circular No. 17 [A.P. (FL/RL
Series) Circular No. 04] dated November 27, 2009 shall remain unchanged.
4. Authorised
Persons may bring the contents of this circular to the notice of their
constituents concerned.
5. The directions
contained in this Circular have been issued under Sections 10(4) and 11(1) of
the Foreign Exchange Management Act, 1999 (42 of 1999) and non-compliance with
the guidelines would attract penal provisions of Section 11(3) of the Act ibid.
Annex
[Annex
to A.P. (DIR Series) Circular No.60 dated December 22, 2011
Customer
Identification Procedure
Features
to be verified and documents that may be obtained from customers
|
Extant Guidelines |
Revised Guidelines |
||
|
Features
|
Documents
|
Features
|
Documents
|
|
Transactions
With Individuals -
Legal name and any other names used |
(i)
Passport (ii) PAN card (iii) Voter's Identity Card (iv) Driving licence (v)
Identity card (subject to the AP's satisfaction) (vi) Letter from a
recognized public authority or public servant verifying the identity and
residence of the customer to the satisfaction of the AP. |
Transactions With
Individuals
-
Legal name and any other names used |
i)
Passport (ii) PAN card (iii) Voter's Identity Card (iv) Driving licence (v)
Identity card (subject to the AP's satisfaction) (vi) Letter from a
recognized public authority or public servant verifying the identity and
residence of the customer to the satisfaction of the AP. |
|
-
Correct permanent address |
(i)
Telephone bill (ii) Bank account statement (iii) Letter from any recognized
public authority (iv) Electricity bill (v) Ration card (vi) Letter from
employer (subject to satisfaction of the AP). (any one of the documents, which provides customer
information to the satisfaction of the AP will suffice). |
-
Correct permanent address |
(i)
Telephone bill (ii) Bank account statement (iii) Letter from any recognized
public authority (iv) Electricity bill (v) Ration card (vi) Letter from
employer (subject to satisfaction of the AP). (any one of the documents, which provides customer
information to the satisfaction of the AP will suffice). Note:
- In case of foreign tourists, copies of passport containing identification
particulars and address, may be accepted as documentary proof for both
identification as well as address. Further, a copy of the visa of
non-residents, duly stamped by Indian Immigration authorities may also be
obtained and kept on record. |