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Inter-Face of FIU- India with the Principal Officers of the HFCs

Inter-Face of FIU- India with the Principal Officers of the HFCs
NHB(ND)/DRS/AML-KYC Meet./          /2010
January 22, 2010

All Registered HFCs

Dear  Sir, Inter-Face of FIU- India with the Principal Officers of the HFCs As you are aware, in view of the increasing importance of the KYC and AML measures, the National Housing Bank has issued Guidelines for being followed by the Housing Finance Companies (HFCs). National housing Bank has also been coordinating closely with the FIU-IND in this regard, in order to ensure smooth implementation of the provisions of the PMLA by HFCs.

2. The Director, FIU-IND expressed certain concerns in the matter of registering STR/CTR by HFCs at the Meeting with the Principal Officers of housing finance companies held in September 19, 2008. FIU-India also desired an interaction with HFCs to review the system in place to monitor transactions and to identify transaction required to be reported as Suspicious Transactions and to share the new development in this regard.

3. It has, accordingly, been decided to convene meetings of the FIU-IND with the Principal Officers of housing finance companies to appreciate and address the concerns of the FIU–India. The meeting would discuss, inter alia, the following issues:

  • Requirements under Prevention of Money Laundering Act, 2002.
  • System in place to identify CTR by HFCs.
  • System in place to identify STR under the PMLA.
  • New Developments under PMLA Act.
  • Other relevant issues regarding compliance to PMLA by HFCs.

4.The meetings have been scheduled to be held as per details given below-

S.No. Date and Time Venue Participant HFCs
1 January 8, 2010  at 11.00 AM Deck Suite, IHC, New Delhi. North, North East and Eastern India based HFCs
2  January 18, 2010  at 10.30AM South Side Lounge, Ground Floor, MVIRDC World Trade Centre, Centre-I, Cuffe Parade, Mumbai-400 001 Western India based HFCs
3 February 4, 2010 at 11.00 AM “IMAGE” MRC Nagar, R.A. Puram (opposite Chettinad Vidyashram School- behind MRC Nagar Ayppan Temple) , Chennai- 600 028 (Tel: 044-24955600) Southern India based HFCs and other HFCs, who have not attended the earlier meetings.

5.All HFCs are requested to inform the name of the participant Principal Officers to Ranjan Kumar, Manager, ( DRS, NHB, New Delhi for necessary action.

6.The meeting will be addressed by the senior officers FIU-IND. We solicit your participation in the meeting to make the deliberations effective and meaningful.

Yours faithfully,

General Manager

Department of Regulation and Supervision