KYC & AML Policy

Jay Finance Private Limited ("the Company") has adopted this Know Your Customer (KYC) and Anti-Money Laundering (AML) Policy in accordance with the Reserve Bank of India's Master Direction on KYC, and the Prevention of Money Laundering Act, 2002 (PMLA) and rules made thereunder, as applicable to Non-Banking Financial Companies.

This policy aims to prevent the Company's platform from being used, intentionally or unintentionally, for money laundering or terrorist financing, by establishing robust customer identification and verification procedures.

The Company undertakes customer identification and verification for every applicant prior to onboarding. Identity and address verification is primarily conducted through Aadhaar-based e-KYC, along with PAN and other officially valid documents as applicable, in accordance with RBI norms.

• Verification of customer identity using reliable, independent sources of identification.
• Collection of information on the purpose and nature of the loan relationship.
• Periodic updation of KYC information in line with the customer's risk category and RBI-prescribed timelines.

Customers are categorized as low, medium, or high risk based on factors such as identity, source of income, and nature of transactions, with enhanced due diligence applied to higher-risk customers.

The Company monitors transactions on an ongoing basis to identify unusual patterns or activity inconsistent with the customer's stated profile, and takes appropriate action where discrepancies are identified.

Customer identification records and transaction data are maintained for the period prescribed under the PMLA and RBI guidelines, and are made available to competent authorities upon lawful request.

Mr. Krishan Bansal has been designated as the Company's Principal Officer responsible for compliance with KYC/AML obligations, including the reporting of cash and suspicious transactions to the Financial Intelligence Unit – India (FIU-IND), as required under the PMLA.

Employees involved in customer onboarding and account monitoring are trained to identify suspicious transactions and to implement this policy effectively.

This policy is reviewed periodically by the Board of Directors to ensure continued alignment with RBI directions and amendments to the PMLA and related rules.

For questions regarding this policy, please contact us at info@quikloans.in or call +91 8448118306.