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  • KYC - Modified Criteria For Storing Aadhaar Documents.

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    The document provides modified criteria for storing Aadhaar documents according to directions from the RBI. Branch heads are responsible for uploading and keeping KYC documents. They must verify the original Aadhaar document, upload an unmasked copy, and file a copy with the first 8 digits of the ID number masked except for the last 4 visible digits. Regional and area managers must verify branches are following these instructions and reject documents that are not redacted properly.

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    KYC -Modified criteria for storing Aadhaar documents.

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    The document provides modified criteria for storing Aadhaar documents according to directions from the RBI. Branch heads are responsible for uploading and keeping KYC documents. They must verify the original Aadhaar document, upload an unmasked copy, and file a copy with the first 8 digits of the ID number masked except for the last 4 visible digits. Regional and area managers must verify branches are following these instructions and reject documents that are not redacted properly.

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    4 views1 page

    KYC - Modified Criteria For Storing Aadhaar Documents.

    Uploaded by

    sprobin6
    The document provides modified criteria for storing Aadhaar documents according to directions from the RBI. Branch heads are responsible for uploading and keeping KYC documents. They must verify the original Aadhaar document, upload an unmasked copy, and file a copy with the first 8 digits of the ID number masked except for the last 4 visible digits. Regional and area managers must verify branches are following these instructions and reject documents that are not redacted properly.

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    CO/CIR/OPS: 23/104

    13/07/2023
    To All MMFL Branches/RM/ZM

    KYC -Modified criteria for storing Aadhaar documents.

    Direction from RBI on KYC mandates that the Regulated entity shall ensure to redact or
    blackout the Aadhaar number, whenever the same is collected and stored as an officially
    valid document. Masked Aadhaar number implies replacing the first 8 digits of Aadhaar
    number with some characters like “xxxx-xxxx” while only the last 4 digits of the Aadhaar
    number are visible.
    The responsibility is being given to the Branch heads regarding the uploading and keeping of
    the KYC documents in the branch. Only scanned copies of the KYC document should be
    uploaded.

    Branch Head must do the following steps:-

     First step-Verify the Aadhaar document copy with the original document and BH
    shall write “Verified with Original” in the uploading copy which shall bear the BH &
    customer signature along with the company seal.

     Second step - Upload the verified Aadhaar scanned copy of both the sides of the
    document including the side having the customer's address without masking the
    digits.

     Third step- For Aadhaar, the first 8 digits of the ID number shall be masked using a
    black marker. Only the masked Aadhaar document copy shall be filed. The copy
    should be kept in the KYC file and only the last 4 digits should be visible in the KYC
    register of the system (IT department will make necessary modifications).

    The Regional Manager / Area Manager on verification of the uploaded KYC document shall
    verify that the branches have uploaded the KYC documents as per the above instructions
    and if not followed, such documents shall be rejected and the same has to be re-uploaded
    as instructed.

    The AM, RM, Auditors & Vigilance during their visits shall confirm the adherence of
    instructions, including filing of the hard copies of redacted (masked) aadhaar and there will
    be stern action against the employees concerned in case of non-compliance.

    This will be applicable from Monday (17.07.2023) onwards.

    SENMON P V
    Deputy Chief Operating Officer

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