(11)(a)The regulator referred to in clause (c) of sub-rule (10) shall issue instructions or guidelines to,-(i)incorporate the requirements of reporting and due diligence procedure specified under rules 114F to 114H;(ii)provide the procedure and manner of maintaining the information by the reporting financial institution; and(iii)ensure the availability of the information referred to in sub-rule (1) with the reporting financial institution for meeting its reporting obligation, if such information is not maintained by it under any rule or regulation issued by the regulator.(b)Every reporting financial institution shall maintain information in respect of financial accounts in accordance with the procedure and manner as may be specified by its regulator from time to time so as to enable reporting of information prescribed under this rule and perform due diligence procedure specified under rule 114H.
