Functions and obligations of the KRA

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....) and issue the same to implement the requirements of these regulations. (b) KRA(s) shall have electronic connectivity and with other KRA(s) in order to establish inter-operability among KRAs. Explanation: Inter-operability means the ability of the KRA to determine whether the KYC documents of the client are in the custody of another KRA. (c) KRA shall have a secure data transmission link with ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... shall be disseminated by KRA to all intermediaries that avail of the services of the KRA in respect of that client. (g) KRA shall ensure that the integrity of the automatic data processing systems for electronic records is maintained at all times. (h) KRA shall take all precautions necessary to ensure that the KYC documents/records are not lost, destroyed or tampered with and that sufficient ba....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....shall be responsible for monitoring the compliance of the Act, rules and regulations, notifications, guidelines, instructions, etc., issued by the Board or the Central Government and for redressal of client's grievances. The compliance officer shall immediately and independently report to the Board any non-compliance observed by him. (n) KRA shall send a letter to each client after receipt of the....