National Housing Bank (NHB) has issued guidelines on Know Your Customer (KYC) and Anti-Money Laundering (AML) vide its circular bearing NHB/ND/DRS/POL- No. 33/2010-11 dated October 11, 2010 advising Housing Finance Companies (HFCs) to ensure that a proper policy framework on ‘Know Your Customer’ and ‘Anti-Money Laundering Measures’ is put in place and to follow certain customer identification processes for opening of accounts and monitoring transactions of suspicious nature keeping in view the possibility of the use of money through these accounts for criminal and other unlawful purposes for which a new legislation namely Prevention of Money Laundering Act 2002 has been framed. HFCs were required to frame their own KYC & AML policy keeping in view the broad guidelines circulated by NHB in this regard, and implement the same after seeking the requisite Board approval. Accordingly, India Home Loans Limited (“Company”) has framed the following KYC & AML Policy.

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