CTR Submission on FIU v2

RULE 3 PML (MAINTAINENCE OF RECORDS) RULES ,2005 (Maintanience of records of transections)

(1) Every reporting entity shall maintain the record of all transactions including, the record of:

(A) all cash transactions of the value of more than ten lakhs’ rupees or its equivalent in foreign currency;

(B) all series of cash transactions integrally connected to each other which have  been individually valued below rupees ten lakhs or its equivalent in foreign currency where such series of transactions have taken place within a month and the monthly aggregate exceeds an amount of ten lakh rupees or its equivalent in foreign currency.

(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

(E) all cross border wire transfers of the value of more than five lakh rupees or its equivalent in foreign currency where either the origin or destination of fund is in India;

RULE 8 PML (MAINTAINENCE OF RECORDS) RULES ,2005 (Furnishing of Information to the director)

(1) The Principal Officer of a reporting entity shall furnish the information in respect of transactions referred to in clauses (A), (B), (BA), (C) and (E) of sub-rule (1) of rule 3 every month to the Director by the 15th day of the succeeding month.  

12-11-2024