Government of India Ministry of Communications, Department of Posts DIRECTORATE OF POSTAL LIFE INSURANCE Chanakyapuri Post Office Complex, New Delhi-110021 No 29-24/2020-LI (Vol-II) Dated 12.02.2024
Subject: Monitoring of PLI/RPLI Policies Transactions
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Reference: PLI Dte letter No. 29-24/2020-LI (Vol-II) dated 28.08.2023
In continuation of the guidelines outlined in the Master Circular regarding Anti Money Laundering (AML), Combating the Financing of Terrorism (CFT), and Money Laundering (ML) alerts for insurance services, the Directorate of Postal Life Insurance (PLI) has issued comprehensive instructions for reporting specific transactions. However, it has come to our attention that these transactions are not being reported at the Circle level as per the prescribed procedure.
It is, therefore, imperative that all concerned parties adhere to the instructions outlined in the Master Circular diligently. To ensure compliance, we request that necessary instructions be disseminated to all relevant personnel.
Additionally, we kindly request that all Circles submit a consolidated report for the month of January 2024 to the PMLA division at the earliest. Furthermore, going forward, all monthly reports should be forwarded directly to the PMLA division by the 5th of the succeeding month.
This directive is issued with the approval of the competent authority.
Mrinal Srivastava Additional General Manager (PLI) Copy to: PMLA (Division)
This article underscores the importance of monitoring PLI/RPLI policies transactions in compliance with AML/CFT/ML guidelines and emphasizes the need for timely reporting to the designated authorities.
