RBI Update - Reserve Bank of India (All India Financial Institutions – Know Your Customer) Amendment Directions, 2025

The Reserve Bank of India has issued the Reserve Bank of India (All India Financial Institutions – Know Your Customer) Amendment Directions, 2025, which have come into force with immediate effect, to clarify responsibilities relating to the Central KYC Records Registry (CKYCR). Under the amendment, the regulated entity (RE) that last uploads or updates a customer’s KYC records in CKYCR shall be responsible for verification of the customer’s identity and/or address. Consequently, AIFIs downloading and relying on such KYC records are not required to re-verify identity or address, provided the records are current and compliant with the PML framework, while remaining responsible for all other customer due diligence (CDD) obligations under the Directions. Link - View Circular