"5. Procedure and manner of maintaining information
(1) Every banking company, financial institution and intermediary, as the case may be, shall maintain information in respect of transactions with its client referred to in rule 3 in hard and soft copies in accordance with the procedure and manner as may be specified by [its Regulator]* from time to time.

(2) Every banking company, financial institution and intermediary, shall evolve an internal mechanism for maintaining such information in such form and at such intervals as may be specified by [its Regulator]* from time to time.

(3) It shall be the duty of every banking company, financial institution and intermediary, as the case may be, to observe the procedure and the manner of maintaining information as specified by [its Regulator]* under sub-rule (1)."

*Substituted for 'the Reserve Bank of India or the Securities and Exchange Board of India [or the Insurance Regulatory and Development Authority, as the case may be' vide Notification No. 13/2009 dated 12-11-2009