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Home > Maintenance of Records > Retention of Records
Retention of Records
Rule 6 of the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005 provide for retention of records for a specified time. Accordingly, the records should be maintained for a period of ten years from the date of cessation of the transactions.

"6. Retention of records - The records referred to in rule 3 shall be maintained for a period of ten years from the date of cessation of the transactions between the client and the banking company, financial institution or intermediary, as the case may be."
Maintenance of Records >> Overview
Maintenance of Records >> Obligations
Maintenance of Records >> Records containing information
Maintenance of Records >> Procedure and Manner
Notifications >> Notification No. 9/2005 - Rules for Record Keeping and Reporting
Notifications >> Rule 3 - Maintenance of records of transactions
Notifications >> Rule 4 - Records containing information
Notifications >> Rule 5 - Procedure and manner of maintaining information
Notifications >> Rule 6 - Retention of Records
Notifications >> Notification No. 15/2005 - Amendment to Rules
PMLA 2002 >> Section 12 - Obligations under PMLA
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