TMI BlogPrevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) 3rd Amendment Rules, 2010.X X X X Extracts X X X X X X X X Extracts X X X X ..... aundering - Money Laundering - PMLA - Notifications - PMLA - Ministry of Finance Department of Revenue Notification New Delhi, the Dated 16-12-2010 G.S.R. 980(E),- In exercise of the powers conferred by sub-section (1) read with clauses (h), (i), (j) and (k) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003) , the Central Governm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... force on the date of their publication in the Official Gazette. 2. In the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of India or any other document as may be required by the banking companies, or financial institution or intermediary shall be substituted; (iii) after clause (fa), the following clause shall be inserted, namely:- (fb) small account means a savings account in a banking company where- (i) the aggregate of all credits in a financial year does not exceed rupees one lakh, (ii) the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s the case may be, in his presence; (ii) a small account shall be opened only at Core Banking Solution linked banking company branches or in a branch where it is possible to manually monitor and ensure that foreign remittances are not credited to a small account and that the stipulated limits on monthly and annual aggregate of transactions and balance in such accounts are not breached, before ..... X X X X Extracts X X X X X X X X Extracts X X X X
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