Volume : V, Issue : IV, April - 2015

Know your Customer Compliance of Regional Rural Banks of South India

Rathi K. N. , Anooja C. V.

Abstract :

 Money laundering is a serious issue in India because they may be used for anti national activities or terrorism. Know Your Customer (KYC) compliance is a precaution taken by the Reserve Bank of India (RBI) 

for controlling the money laundering as per Prevention of Money laundering Act, 2002. The investigators conducted 
this as a qualitative study and the method used was Documentary analysis. The study was guided by the research 
questions related to the guidelines provided by RBI, the documents used by the Regional Rural Banks (RRBs) for KYC 
and how RBI penalizes the RRBs if they failed to comply with the guidelines. The collected data are analyzed and arranged in the systematic order here. RBI had been penalizing the banks which are failed to satisfy the norms. 

Keywords :

KYC   RBI   RRBs   South India  

Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

Rathi K. N., Anooja C. V. Know your Customer Compliance of Regional Rural Banks of South India Indian Journal of Applied Research, Vol.5, Issue : 4 April 2015


Number of Downloads : 467


References :