**Executive Summary**
This document contains amendment directions issued by the Reserve Bank of India (RBI) on December 29, 2025, to the "Reserve Bank of India (All India Financial Institutions – Know Your Customer) Directions, 2025." The amendments clarify the responsibility of entities uploading and downloading customer KYC records from the Central KYC Records Registry (CKYCR). These directions take immediate effect.
**Key Points / Main Content**
* **Amendment Title:** Reserve Bank of India (All India Financial Institutions – Know Your Customer) Amendment Directions, 2025.
* **Effective Date:** Immediate effect.
* **Modification:** The Amendment Directions modify the Reserve Bank of India (All India Financial Institutions – Know Your Customer) Directions, 2025.
* **Amendment Detail:**
* In paragraph 62, after sub-paragraph (9), an "Explanation" is inserted regarding KYC record verification responsibilities.
* **Explanation**: The RE (Regulated Entity) that last uploaded or updated customer KYC records in CKYCR is responsible for verifying the identity and/or address of the customer.
* AIFIs (All India Financial Institutions) that download and rely on KYC records from CKYCR are not required to re-verify the authenticity of the customer's identity or address, provided the downloaded records are current and compliant with the PML Act, 2002 / PML Rules, 2005.
* AIFIs downloading and relying on KYC records from CKYCR remain responsible for all aspects of CDD (Customer Due Diligence) procedure and provisions of these Directions, except for the verification of identity and/or address of the customer.
**Impact Analysis**
**All India Financial Institutions (AIFIs)**
* **Impact:** AIFIs downloading KYC records from CKYCR now have a clarified understanding of their verification responsibilities. They are not required to re-verify customer identity and address if the records are current and PML Act compliant.
* **Action Required:** AIFIs must update their KYC procedures to reflect the clarified verification responsibilities when downloading and relying on KYC records from CKYCR, ensuring compliance with CDD requirements.
**Regulated Entities (REs) Uploading to CKYCR**
* **Impact:** REs that upload or update customer KYC records to CKYCR carry the responsibility of KYC verification.
* **Action Required:** The REs that last uploaded the KYC are required to maintain up-to-date KYC practices for the purposes of upload to the CKYCR.
Key Entities Referenced
Reserve Bank of India (All India Financial Institutions – Know Your Customer) Amendment Directions, 2025: The primary subject of the document: amendment directions issued by the Reserve Bank of India regarding KYC norms for All India Financial Institutions.
Reserve Bank of India (All India Financial Institutions – Know Your Customer) Directions, 2025: The original directions that are being amended by the new directions.
Prevention of Money-Laundering Act, 2002: Referenced act establishing legal framework related to prevention of money laundering.
Banking Regulation Act, 1949: Referenced act establishing legal framework related to banking regulation.
Foreign Exchange Management Act, 1999: Referenced act establishing legal framework related to foreign exchange.
RBI/2025-26/157
DOR.AML.REC.361/14.01.011/2025-26 December 29, 2025
Reserve Bank of India (All India Financial Institutions – Know Your Customer)
Amendment Directions, 2025
Reserve Bank had issued Reserve Bank of India (All India Financial Institutions – Know
Your Customer) Directions, 2025 dated November 28, 2025 (hereinafter referred to as the
Directions) in compliance of the provisions of the PML Act, 2002 and the Rules made
thereunder. There is a need to amend the Directions to clarify the responsibility of entities
uploading customer records to and downloading the same from CKYCR, based on the
office memorandum (OM) titled “CKYCR and the ultimate responsibility of REs – reg.”
issued by the Department of Revenue, Govt of India, dated September 18, 2025.
2. Accordingly, in exercise of the powers conferred by sections 35A of the Banking
Regulation Act, 1949, the Banking Regulation Act (AACS), 1949, read with section 56 of
the Act ibid, sections 45JA, 45K, and 45L of the Reserve Bank of India Act, 1934, section
10(2) read with section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007),
section 11(1) of the Foreign Exchange Management Act, 1999, Rule 9(14) of the
Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, and all other
enabling laws in this regard, the Reserve Bank being satisfied that it is necessary and
expedient in the public interest so to do, hereby issues the Amendment Directions
hereinafter specified.
3. Short Title and Commencement
(1) These Directions shall be called the Reserve Bank of India (All India Financial
Institutions – Know Your Customer) Amendment Directions, 2025.
(2) These Directions shall come into force with immediate effect.
4. These Amendment Directions modify the Reserve Bank of India (All India Financial
Institutions – Know Your Customer) Directions, 2025 as under:(1) In paragraph 62, the following “Explanation” is being inserted after sub-paragraph
(9):
“Explanation: The RE that has last uploaded or updated the customer’s KYC records
in the CKYCR shall be responsible for verifying the identity and / or address of the
customer, as applicable. Accordingly, any AIFI downloading and relying on such
records from the CKCYR shall not be required to re-verify the authenticity of the
customer’s identity and / or address, provided the KYC records downloaded from
CKYCR are current and compliant with the PML Act, 2002 / PML Rules, 2005. The AIFI
downloading and relying on KYC records downloaded from the CKCYR shall remain
responsible for all aspects of CDD procedure and provisions of these Directions, except
verification of identity and / or address of the customer.”
(Veena Srivastava)
Chief General Manager