On Aug. 22, IND NSD issued circular re mobile number, email address.
IND NSD issued circular re same mobile number, email address for multiple accounts.
Unique Details
Participants must ensure that each client has unique mobile numbers, email addresses.
Under exceptional circumstances, such as clients from same family, the same mobile number or email can be used, upon receiving a specific written request from the client.
Reports are made available to help identify accounts with duplicated mobile numbers or email addresses, both within a single participant system and across all participants.
If accounts do not meet the family exception, participants must advise clients to update contact details; 15-day notice to be issued to clients, to become compliant.
Otherwise, they will be marked as KYC non-compliant and may be deactivated.
Participants are urged to develop policies to minimize occurrences of shared contact details and ensure no mixing of employee details in client accounts.
Regular reviews, monthly compliance reports are required to be submitted to NSD.
Participants must maintain records of attempts to update client details for audit purposes; compliance reports to be submitted monthly by 25th of the following month.
