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Simplification of Know Your Customer (KYC) Norms Creating Public awareness

November, 25th 2014
RBI/2014-15/314 DPSS.CO.AD.No.890/02.27.005/2014-15 November 24, 2014 All Payment System Providers, System Participants and Prepaid Payment Instrument Issuers Madam/Dear Sir, Simplification of Know Your Customer (KYC) Norms – Creating Public awareness Please refer to our circulars/instructions issued from time to time on the captioned subject. In this regard, we enclose a copy of circular DBOD.AML.No.3356/14.01.001/2014-15 dated September 4, 2014 issued by Department of Banking Operations and Development, Central Office, on the same. 2. The Payment System Operators may note the contents of the circular regarding creating public awareness about simplification of KYC norms. They may initiate steps to create awareness regarding the poster and booklet indicated therein and ensure strict adherence to the instructions in the circular. Yours faithfully, (Sangeeta Lalwani) General Manager Encl: As above