KYC & AML Policy

Know Your Customer (KYC) Policy

Swabhiman Pawan Nidhi Limited strictly implements Know Your Customer (KYC) guidelines as mandated by the Ministry of Corporate Affairs and broader financial regulations. The objective of our KYC framework is to prevent the company from being used, intentionally or unintentionally, by criminal elements for money laundering activities.

Mandatory Requirements for Membership

To become a shareholder-member and access our deposit or loan services, individuals must provide valid proof of identity and address. We require:

• Proof of Identity (PoI): PAN Card (mandatory for tax reporting and large transactions).
• Proof of Address (PoA): Aadhaar Card, Valid Passport, Voter ID, or recent Utility Bills.
• Photographs: Two recent passport-size photographs.
• Registered Account: Details of an active bank account in the member's name for digital disbursements and redemptions.

Anti-Money Laundering (AML) Standards

As a responsible financial institution, we maintain strict vigilance over transactions to counter money laundering and terrorist financing.

• Transaction Monitoring: All member accounts are subject to continuous monitoring. Unusual or high-value cash transactions are flagged for additional verification.
• Cash Transaction Limits: We comply strictly with the Income Tax Act regarding cash receipt and repayment limits. Members are encouraged to use digital channels (NEFT/RTGS/IMPS) for transactions.
• Record Keeping: Member identification records and transaction logs are maintained securely for the duration mandated by the regulatory authorities.