Policies
KYC / AML
Policy
Naveen Finance Pvt. Ltd. is committed to implementing robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures in full compliance with applicable regulatory requirements.
The Company has implemented a Board-approved KYC/AML Policy that governs customer identification, verification, risk classification, transaction monitoring, and reporting obligations to prevent the use of financial services for money laundering or terrorist financing activities.
Regulatory Framework
The Company's KYC/AML Policy is aligned with the following regulatory requirements:
Customer Identification & Verification
Naveen Finance follows a comprehensive Customer Due Diligence (CDD) process involving the following identification and verification requirements:
PAN Verification
Permanent Account Number (PAN) verification is mandatory for all borrowers as per Income Tax Act and PMLA requirements.
Aadhaar / eKYC Verification
Aadhaar-based eKYC is used for digital identity verification through UIDAI-authorized channels with explicit customer consent.
Officially Valid Documents (OVDs)
Passport, Voter ID, Driving License, Aadhaar, NREGA card, or other documents as specified under RBI KYC Directions.
Address Verification
Proof of current and permanent address is verified through approved OVDs or utility bills as per applicable guidelines.
Mobile & Email Verification
Contact information is verified through OTP-based authentication to ensure reachability and identity confirmation.
Business / Entity Proof
For non-individual borrowers: Certificate of Incorporation, partnership deed, GST registration, and other applicable entity documents.
Risk-Based Customer Classification
Customers are classified into risk categories based on their profile, transaction patterns, and applicable regulatory guidelines:
Customers with stable income, established identity, low transaction volumes, and no adverse background indicators.
Customers requiring enhanced due diligence based on transaction patterns, geographic factors, or business complexity.
Politically Exposed Persons (PEPs), customers from high-risk jurisdictions, or those with adverse risk indicators requiring intensified monitoring.
AML Monitoring & Controls
The Company implements the following AML monitoring and control mechanisms to detect and prevent suspicious transactions:
Record Retention & Reporting
KYC and transaction records are maintained in accordance with applicable regulatory requirements:
FIU-IND Reporting
The Company files Suspicious Transaction Reports (STRs), Cash Transaction Reports (CTRs), and other mandatory reports with the Financial Intelligence Unit — India (FIU-IND) as required under PMLA and applicable regulations.