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The Reserve Bank of India ("RBI") by way of Notification No. RBI/2025-26/166 dated 29.12.2025 notified the Reserve Bank of India (Commercial Banks – Know Your Customer) Amendment Directions, 2025 ("KYC Amendment Directions")1 to amend the Reserve Bank of India (Commercial Banks – Know Your Customer) Directions, 2025 ("KYC Directions").
RBI inserted an Explanation after sub-paragraph (10) of paragraph 65 (CDD Procedure and sharing KYC information with Central KYC Records Registry ("CKYCR")) of the KYC Directions.
- The Regulated Entity ("RE") which last uploaded or updated the customer's KYC records in CKYCR shall be responsible for verifying the identity and / or address of the customer, as applicable.
- Any bank downloading and relying on KYC records from the CKYCR shall not be required to re-verify the authenticity of the customer's identity and / or address, provided that such KYC records are current and compliant with the Prevention of Money Laundering Act, 2002 and the Prevention of Money Laundering Rules, 2005.
- The bank downloading and relying on KYC records from the CKYCR shall remain responsible for compliance with all aspects of the Customer Due Diligence procedure and provisions of the KYC Directions, except verification of the identity and / or address of the customer.
RBI has notified similar amendments to the KYC Directions applicable to Urban Co-operative Banks, Small Finance Banks, Rural Co-operative Banks, Regional Rural Banks, Payments Banks, Non-Banking Financial Companies, Local Area Banks, Asset Reconstruction Companies, and All India Financial Institutions on 29.12.2025. The KYC Amendment Directions shall come into force from 29.12.2025.
Footnote
1 Reserve Bank of India (Commercial Banks – Know Your Customer) Amendment Directions, 2025.
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