Functions and obligations of the KRA

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....tion with other KRA(s) 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 d....

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.... Any information updated about a client 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, destro....

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....im. (m) KRA shall appoint a compliance officer who 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....