Prevention of Money Laundering (Amendment) Act, 2012.- Designated Director - Money Laundering - DNBR.PD.CC.NO.022/03.10.042/2014-15,

CIRCULAR DNBR.PD.CC.NO.022/03.10.042/2014-15, Dated 16-3-2015 Please refer to our Circular DNBS (PD).CC.No.378/03.10.42/2013-14 dated May 29, 2014 wherein NBFCs were advised to nominate a Director on their Boards as Designated Director to ensure compliance with the obligations under the Prevention of Money Laundering (Amendment) Act, 2012. 2. In this connection, it is clarified that NBFCs can also designate a person who holds the position of senior management or equivalent as a Designated Director . However, in no case, the Principal Officer should be nominated as the Designated Director .