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Home > Furnishing Information > Overview
Overview of Reporting under PMLA
The Prevention of Money-laundering Act, 2002, and the rules thereunder require every banking company, financial institution and intermediary, to furnish to FIU-IND information relating to -
(A) All cash transactions of the value of more than rupees ten lakhs or its equivalent in foreign currency;
(B) All series of cash transactions integrally connected to each other which have been valued below rupees ten lakhs or its equivalent in foreign currency where such series of transactions have taken place within a month;
(BA) All  transactions involving receipts by non-profit organisations of  value  more than  rupees ten lakh, or its equivalent in foreign currency;*
(C) All cash transactions where forged or counterfeit currency notes or bank notes have been used as genuine or where any forgery of a valuable security or a document has taken place facilitating the transactions;*
(D) All suspicious transactions whether or not made in cash.
*modified by Notification No. 4/2007 dated 24-05-2007
Banking Company means a banking company or a co-operative bank to which the Banking Regulation Act, 1949 applies and includes any bank or banking institution referred to in section 51 of that Act. Banking Company includes
  • All banking companies namely nationalized banks, private Indian banks and private foreign banks,
  • All co-operative banks viz. primary co-operative banks, state co-operative banks and central co-operative banks,
  • State Bank of India and its associates and subsidiaries,
  • Regional Rural Banks.
Financial Institution means a Financial Institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) and includes a chit fund company, a co-operative bank, a housing finance institution and a non banking financial company. Financial Institution includes:
  • Financial Institutions as defined in Section 45-I of the RBI Act. RBI regulates and supervises 8 All- India Financial Institutions namely EXIM Bank, NABARD, NHB, SIDBI, IFCI Ltd., IDFC Ltd., IIBI Ltd. And TFCI Ltd.
  • Insurance companies,
  • Hire Purchase companies,
  • Chit fund companies as defined in the Chit Funds Act.
  • Co-operative banks.
  • Housing finance institutions as defined in the National Housing Bank Act such as HDFC.
  • Non-banking financial companies as defined in section 45-I of the RBI Act such as private finance companies - motor and general, hire purchase companies, leasing companies, investment companies etc.
  • Authorised person as defined in clause (c) of section 2 of the Foreign Exchange Management Act, 1999
Intermediary means a stock-broker, sub-broker, share transfer agent, banker to an issue, trustee to a trust deed, registrar to an issue, merchant banker, underwriter, portfolio manager, investment adviser and any other intermediary associated with securities market and registered under section 12 of the Securities and Exchange Board of India Act, 1992 (15 of'1992). Intermediary includes following persons registered under Section 12 of SEBI Act:-
  • Stock brokers
  • Sub-brokers
  • Share transfer agents
  • Bankers to an issue
  • Trustees to trust deed
  • Registrars to issue
  • Merchant bankers
  • Underwriters
  • Portfolio Managers
  • Investment advisers
  • Depositories and Depository Participants
  • Custodian of securities
  • Foreign institutional investors
  • Credit rating agencies
  • Venture capital funds
  • Collective investment schemes including mutual funds
*Inserted by Notification No. 13/2009 dated 12-11-2009
Top
Furnishing Information >> Cash Transaction Reports
Furnishing Information >> Suspicious Transaction Reports
Furnishing Information >> Counterfeit Currency Reports
Furnishing Information >> Methods of Filing
Furnishing Information >> Due Dates
Furnishing Information >> Reporting Formats
PMLA >> Section 12 - Obligations under PMLA
Notifications >> Notification No. 9/2005 - Rules for Record Keeping and Reporting
Notifications >> Notification No. 15/2005 - Amendment to Rules
Notifications >> Notification No. 13/2009 - Amendment to Rules
Related Acts >> Banking Regulation Act, 1949
Related Acts >> RBI Act, 1934
Related Acts >> SEBI Act, 1992
FAQs >> FAQs on Reporting Formats
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