RBI to NBFCs: Appoint officials for ensuring PMLA compliance

The RBI today asked NBFCs to appoint a senior person for ensuring compliance with the obligations under the prevention of money laundering regulations.

NBFCs were advised to nominate a senior person to ensure compliance with the obligations under the Prevention of Money Laundering (Amendment) Act (PMLA), 2012, RBI said in a notification.

They can also designate a person who holds the position of senior management or equivalent as a "designated director".

"However, in no case, the principal officer should be nominated as the designated director," it said.