Section 5(3) in The Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the .. of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005
(3)It shall be the duty of every banking company, financial institution and intermediary, as the case may be, to observe the procedure and the manner of maintaining information as specified by the Reserve Bank of India or the 1[Securities and Exchange Board of India or the Insurance Regulatory and Development Authority], as the case may be, under sub-rule (1).the Prevention of Money-laundering(Maintenance of Records of the Nature and Value of Transactions, the Procedureand Manner of Maintaining and Time for Furnishing Information and Verificationand Maintenance of Records of the Identity of the Clients of the BankingCompanies, Financial Institutions and Intermediaries) Rules, 2005
