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Need help in finding RBI/Banking guideline of KYC for bearer cheque > Rs. 50,000

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Batman

Batman

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Hi again people,
I am filing RBI Ombudsman complaint for the Rs 75,000 fraudulent cheque case, and need your help in finding RBI/Banking guideline below:
If an individual’s bearer check is worth more than Rs. 50000, the bank will always request identification verification before disbursing cash. If the person delivering the check is not the account holder, this can happen.
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I have the links from Unacademy and Upstox websites, but I need this guideline on RBI/Gov/PNB website.

PNB did not verify ID of the scammer while cheque cashing, and I'm hoping this guideline strongly helps this case.

PS - I am making this temporary thread because the discussion in original thread has gone all sorts of places. I will get this thread deleted by mods once the purpose is served.
 

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Batman said:
Hi again people,
I am filing RBI Ombudsman complaint for the Rs 75,000 fraudulent cheque case, and need your help in finding RBI/Banking guideline below:

I have the links from Unacademy and Upstox websites, but I need this guideline on RBI/Gov/PNB website.

PNB did not verify ID of the scammer while cheque cashing, and I'm hoping this guideline strongly helps this case.

PS - I am making this temporary thread because the discussion in original thread has gone all sorts of places. I will get this thread deleted by mods once the purpose is served.
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Even withdrawal of more than 50k from own account requires pan card in branch .
In pnb
 
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its_karan said:
Ye lo Bhai


The highlighted point is your Target. Language kitaabi hai isliye breakdown kardeta hoon:
  • Customer Identification Prodceure= mini-KYC equivalent
  • Non-account based and walkin= Encash karne wala Bearer is not account holder

View attachment 54755
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Thank you bhai.

Isi page par I found something else too -
D. Walk-in Customer

In case of transactions carried out by a non-account based customer, that is a walk-in customer, where the amount of transaction is equal to or exceeds Rs. 50,000/-, whether conducted as a single transaction or several transactions that appear to be connected, the customer's identity and address should be verified.
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I hope this is good enough, since this is just a guideline and not a mandate to the banks.

Either way, I'll update my RBI complaint as well as write an email to circle head PNB.
 
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its_karan said:
Yes this argument HDFC also used in its Favour in another case
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Oh that is promising. Could you please share the link to that case? I'd like to read.

It'll probably give us tips to fight this case. Cause so far authorities have not taken any action. Not by RBI, not by police.

On my suggestion, the neighbour net a lawyer and they wrote a letter to SP. If there's no response by next mid-week, we're going to court.

Though, Public Grievance cell DGP has forwarded our email to RBI team and Jaipur BO. But no further response from anyone.
 
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Batman said:
Oh that is promising. Could you please share the link to that case? I'd like to read.

It'll probably give us tips to fight this case. Cause so far authorities have not taken any action. Not by RBI, not by police.

On my suggestion, the neighbour net a lawyer and they wrote a letter to SP. If there's no response by next mid-week, we're going to court.

Though, Public Grievance cell DGP has forwarded our email to RBI team and Jaipur BO. But no further response from anyone.
Click to expand...

Check D M
 
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Batman said:
I am making this temporary thread because the discussion in original thread has gone all sorts of places. I will get this thread deleted by mods once the purpose is served.
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I suggest, DON'T DELETE, it will come handy to someone's else in future. I don't see any strong reason for deletion once the purpose is served; @its_karan bro already given links, attached required screenshot and answered your concern.

Anyway, it's your call.
 
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Thank you for sharing this @its_karan bhai. Also, thanks @#aniket bhai.

Do you two think I should add the NCDRC order PDF present on this link in my complaint to RBI?

I mean, RBI should already know all these directives anyway. I can maybe quote this directive in text section.
 
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Batman said:
Thank you for sharing this @its_karan bhai. Also, thanks @#aniket bhai.
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Welcome bro.
Batman said:
Do you two think I should add the NCDRC order PDF present on this link in my complaint to RBI?
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Yes!
Batman said:
I mean, RBI should already know all these directives anyway.
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It's not necessary that RBI BO or any other official have this rules on tip of their tongues.
Batman said:
I can maybe quote this directive in text section.
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Yes you can, add links to that text or add it separately. If you feel attaching the PDF or unable to put links for some reason then, no harm on attaching the PDF as well.

E.g:

Master Circular – Know Your Customer (KYC) norms / Anti-Money Laundering (AML) standards/Combating Financing of Terrorism (CFT)/Obligation of banks and financial institutions under PMLA, 2002 dated July 1, 2015, 3.2.1 (b) (vi) states when carrying out transactions for a non-account based customer, that is a walk-in customer, where the amount involved is equal to or exceeds Rs. 50,000/-, whether conducted as a single transaction or several transactions that appear to be connected.
 
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#aniket said:
Yes you can, add links to that text or add it separately.
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Whaaaaat. It didn't look like hyperlinks could be attached to that text in RBI complaint.

It is a single block of text. No formatting, no paragraphs or indentation. No block/italics.

I'll check if I can add the PDF attachment for sure.
 
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ccdc said:
why bearer cheque in first place?
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Check out this thread for details. It wasn't a bearer's check originally.
www.technofino.in

Cheque Fraud: Rs 180 -> Rs 75,000 cashed out. Original text was overwritten. Please read the details and help.

This is an awful incident that happened to a neighbor. I am adding details for you all to read. Some of this may sound silly and stupid, but I am stating facts as they are. Please read and help. Scamster posed as Metlife Insurance employee who needed to collect "final installment" of Rs 180...
www.technofino.in www.technofino.in
 
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Batman said:
Whaaaaat. It didn't look like hyperlinks could be attached to that text in RBI complaint.

It is a single block of text. No formatting, no paragraphs or indentation. No block/italics.

I'll check if I can add the PDF attachment for sure.
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That's why I doubted and asked to put the links separately like this:


Links: https://www.rbi.org.in/commonperson/English/Scripts/Notification.aspx?Id=1581


Or else give refrence and attach PDF. PDF can be attached simply, no restrictions, at all.
 
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