RBI Instruction on Unique Customer Identification Code

UBD.BPD (PCB) Cir. No. 54/14.01.062/2012-13

June 6, 2013

The Chief Executive Officer
All Primary (Urban) Co-operative Banks

Madam/Dear Sir,

Know Your Customer (KYC)/Anti-Money Laundering (AML)/Combating
of Financing of Terrorism (CFT) Guidelines – Unique Customer
Identification Code (UCIC) for banks™ customers in India Primary (Urban) Co-operative Banks

Please refer to our circular UBD.BPD (PCB) Cir. No. 14/ 14.01.062/2012-13 October 9, 2012 on the captioned subject, advising all Primary (Urban) Co-operative Banks to initiate steps for allotting UCIC to all their customers while entering into any new relationships for individual customers to begin with and to existing individual customers by end-May 2013.

2. Some banks have expressed difficulties in implementing UCIC for its customers for various reasons and have sought more time to allot UCIC to their existing account holders. Keeping in view the constraints, the time for completing the process of allotting UCIC to existing customers is extended up to March 31, 2014. We, however, reiterate that UCIC should be allotted to all customers while entering into new relationships.

Yours faithfully,

(A. K. Bera)
Principal Chief General Manager

Tags: Acute myeloid leukemiaCustomerIndiaKnow Your Customermoney launderingTerrorism financingUCICUrban

profile image

About eMinds Legal

eMinds Legal

eMinds Legal is a Corporate Law Firm based in Gurgaon, India specializing in Corporate Legal, Corporate Secretarial and Compliance. The Firm comprises of a team of Corporate Lawyers and Company Secretaries with in-depth subject matter knowledge and participative industry experience of over 15 years.

India’s Leading Compliance Software

India’s Leading Compliance Software

Get A Demo Today !

Corporate Law Referencer

Corporate Law Referencer

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates