Periodic Updation definition

Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews of existing records at periodicity prescribed by the Reserve Bank.

Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews of existing records at periodicity prescribed by the Reserve Bank. The process followed by the Company for periodic updation is explained in this document.

Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews of existing records at periodicity prescribed by RBI and/or NHB.

Examples of Periodic Updation in a sentence

• Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews of existing records at periodicity prescribed by the National Housing Bank.

• A Company shall carry out Periodic Updation at least once in every 2 (Two) years for high risk Customers, once in every 8 (Eight) years for medium risk Customers and once in every 10 (Ten) years for low risk Customers.

• The Company shall adopt a risk-based approach for Periodic Updation of KYC.

• However, Periodic Updation shall be carried out at least once in every two years for high risk Customers, once in every eight years for medium risk Customers and once in every ten years for low risk Customers from the date of opening of the account / last KYC updation.

More Definitions of Periodic Updation

Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant

Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews of existing records at periodicity prescribed by NHB. The Company shall carry out periodic KYC updation as under:

Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews of

Periodic Updation means steps taken to ensure that documents, data or information collected under the CDD process is kept up-to-date and relevant by undertaking reviews ofexisting records at periodicity prescribed by the RBI.

Periodic Updation means steps taken to ensure that documents, data or information collected under the Customer Due Diligence process is kept up-to-date and relevant by undertaking reviews of existing records at periodicity specified by the Authority.

Periodic Updation means steps taken to ensure that the documents, data or information collected under Customer Due Diligence is kept up to date and relevant by undertaking reviews of existing records at periodicity prescribed by NHB.