SWIFT 6-POINTER KYC needs to be reconsidered by RBI

[Pratyush Khetan]

Hi all

How many of you have faced this problem of Investors sending FDI money without a 6-pointer KYC?

I have had several cases where in spite of telling the investors to key in 6 pointer KYC in SWIFT, their banks miss it. 

In my view, 6 Pointer KYC does not serve any purpose except it creates more confusion as it is a non-standard request. Out of the 6 questions, 3 are already answered in different fields. 

What is the view of the members?

Thanks!

PKASSO

Chartered Accountants

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[AAYUSH BANSAL]

Dear Sir,

I am currently facing this issue while take FDI from foreign country. The Bank of Foreign entity is not responding to the 6 Pointer KYC request sent by the bank of Indian Party. What is the way out for it? 

Thanks

Aayush Bansal 

[Pratyush Khetan]

Aayush

I will need a few details to understand where it might be stuck. My number is below. You can reach out to me tomo

PICASSO

Chartered Accountants

+91-9844542314

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