KYC Policies (Know Your Customer)
The objective of KYC guidelines is to prevent the Company from being used, intentionally or unintentionally, by criminal elements for money laundering activities or terrorist financing activities. KYC procedures shall also enable the Company to know and understand its Customers and its financial dealings better which in turn will help it to manage its risks prudently. Thus, the KYC policy has been framed by the Company for the following purposes:
1. To prevent criminal elements from using Company for money laundering activities;
2. To enable Company to know and understand its customers and their financial dealings better which, in turn, would help the Company to manage risks prudently;
3. To put in place appropriate controls for detection and reporting of suspicious activities in accordance with applicable laws/laid down procedures;
4. To comply with applicable laws and regulatory guidelines;
5. To ensure that the concerned staff is adequately trained in KYC/AML/CFT procedures. This KYC Policy is applicable to all customers of the Company and is to be read in conjunction with related operational guidelines issued from time to time.