Repco home finance | Interest Rates | Documents | Eligibility

Repco home finance: Get Details on Repco Dream Home Loan Finance Schemes, Eligibility, EMI, Documents, Charges online. Loans for the purpose of construction or purchase of a property.
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NHB had vide their Circular NHB (ND)/DRS/POL.13/2006 dated April 10, 2006 framed the guidelines on KYC & AML for all HFCs”. Now NHB has vide letter no. NHB (ND)/DRS/Pol-No. 33/2010-11 dated October 11 ,2010 advised all HFCs to amend their existing policy framework. This KYC Policy is amended in pursuance of the letter cited above.

As required by NHB guidelines, Repco Home Finance Limited is required to have a KYC Policy. The four elements comprising this policy are:

(i) Customer Acceptance Policy

(ii) Customer Identification Procedure

(iii) Monitoring of transactions

(iv) Risk Management

For the purpose of KYC policy, a ‘Customer’ may be defined as:

a person or entity that maintains an account and/or has a business relationship with the HFC;
one on whose behalf the account is maintained (i.e. the beneficial owner);
beneficiaries of transactions conducted by professional intermediaries, such as Stock Brokers, Chartered Accountants, Solicitors, etc. as permitted under the law, and
any person or entity connected with a financial transaction which can pose significant reputation or other risks to the Company, such as a wire transfer or issue of a high value demand draft as a single transaction.
These guidelines would be applicable to lawyers and valuers empanelled with Repco Home Finance Limited.

 

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