Regulatory
PML Record Maintenance Rules 2023: KYC and CDD Obligations
30 October 2026 · FIU-IND
The PML (Maintenance of Records) Rules require banking companies, financial institutions and intermediaries to maintain transaction records, conduct client due diligence and share information with FIU-IND. The 2023 amendment updates definitions and the Central KYC Records Registry framework.
Points to Remember
- Rules framed under Section 73 read with Sections 11-A and 12-AA of PMLA, 2002
- Designated Director ensures overall compliance with Chapter IV obligations
- Central KYC Records Registry stores KYC records in digital form
- Rule 9B provides for RBI inspection of compliance
Why it matters
Knowing who the Designated Director is and what CDD requires helps branches stay compliant during audits and FIU-IND reporting.
Part of the October 2026 digest.
Back to Regulatory Updates