Know Your Customer (KYC) Policy
1. Introduction
Mahaguru Ayurveda Pvt. Ltd. is committed to conducting its business in compliance with all applicable laws and regulations This Know Your Customer (KYC) Policy outlines the procedures and requirements for verifying the identity of our customers and conducting due diligence on their business activities.
2. Purpose
The purpose of this KYC Policy is to:
- Establish procedures for the collection and verification of customer information.
- Identify and assess the risks associated with our customers and their business activities.
- Ensure compliance with applicable laws and regulations governing KYC requirements.
3. Customer Information Requirements
In order to become a customer of Mahaguru Ayurveda Pvt. Ltd. individuals and entities are required to provide the following information:
- Name: Full legal name as it appears on government-issued identification documents.
- Mobile Number: Active mobile phone number for communication purposes.
- Address: Residential or business address, including street address, city, state, and postal code.
- Email Address: Valid email address for correspondence and account verification purposes.
- Business Transfer Details: Information related to the transfer of funds or products, including bank account details and transaction history.
4. Customer Due Diligence (CDD)
Mahaguru Ayurveda Pvt. Ltd. will conduct customer due diligence (CDD) based on the risk profile of each customer. This may include:
- Verifying the identity of the customer using reliable and independent sources, such as government-issued identification documents.
- Assessing the nature and purpose of the customer's business relationship with Mahaguru Ayurveda Pvt. Ltd.
- Conducting ongoing monitoring of customer transactions and activities to detect suspicious behavior.
5. Risk Assessment
Mahaguru Ayurveda Pvt. Ltd. will assess the risk associated with each customer based on factors such as their geographic location, business activities, transaction volume, and reputation. Enhanced due diligence (EDD) will be conducted on customers identified as high-risk.
6. Record Keeping
Mahaguru Ayurveda Pvt. Ltd. will maintain accurate and up-to-date records of customer information, including copies of identification documents and transaction history. Records will be retained for the period required by applicable laws and regulations.
7. Training and Awareness
All employees involved in customer onboarding, account management, and compliance functions will receive training on the KYC Policy and procedures. Employees will be regularly updated on changes to regulations and industry best practices.
8. Compliance Oversight
Compliance with this KYC Policy will be overseen by the Compliance Officer, who will periodically review the effectiveness of the policy and procedures. Any identified deficiencies will be addressed through corrective action.
9. Amendments and Updates
This KYC Policy may be amended or updated as necessary to reflect changes in laws, regulations, and business practices. Any amendments will be communicated to employees and customers in a timely manner. Still you want to update any of the personal details below mentioned supporting are to be provided.
- Name: Full legal name as it appears on government-issued identification documents.
- Mobile Number: Active mobile phone can only be changed by your registered Email ID
- Address: Residential or business address, including street address, city, state, and postal code as it appears on government-issued identification documents.
- Email Address: Only when sent from a registered email account can an email address be changed or revoked.
- Business Transfer Details: Information related to the transfer business or its any details is allowed only in family blood relation with valid documentation.