**Executive Summary**
The Reserve Bank of India (RBI) issued Amendment Directions on December 29, 2025, to the Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Directions, 2025. These amendments clarify the responsibility for verifying customer identity and address when uploading and downloading customer records from the Central KYC Records Registry (CKYCR). The amendment directions take effect immediately.
**Key Points / Main Content**
* **Short Title and Commencement:**
* The amendment is named the "Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Amendment Directions, 2025."
* The directions come into force with immediate effect.
* **Amendment to Paragraph 59:**
* An "Explanation" is inserted after sub-paragraph (10) in paragraph 59.
* **Clarification of Responsibility for KYC Verification:**
* The RE that last uploaded or updated a customer's KYC records in the CKYCR is responsible for verifying the customer's identity and/or address.
* ARCs downloading and relying on these CKYCR records are not required to re-verify the authenticity of the identity and/or address if the downloaded records are current and compliant with the PML Act, 2002 / PML Rules, 2005.
* ARCs remain responsible for all other aspects of the Customer Due Diligence (CDD) procedure and provisions of the Directions, except for verifying identity and/or address.
**Impact Analysis**
**Impact**
**Reserve Entities (REs) that last uploaded or updated the KYC records:**
* The amendment specifies that these entities bear the responsibility for verifying the identity and/or address of the customer whose records are on the CKYCR.
**Action Required**
* Ensure that all KYC records uploaded or updated in the CKYCR are accurate and verified for identity and/or address.
**Impact**
**Asset Reconstruction Companies (ARCs) downloading KYC records from CKYCR:**
* ARCs are not required to re-verify identity and/or address if the downloaded records are current and compliant with PML regulations. However, they remain responsible for all other aspects of CDD.
**Action Required**
* Ensure that downloaded KYC records are current and compliant with PML regulations.
* Maintain adherence to all CDD procedures, excluding the re-verification of identity and/or address.
Key Entities Referenced
Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Amendment Directions, 2025: The primary subject of the document, amending existing KYC directions for Asset Reconstruction Companies.
Reserve Bank of India: The issuing authority of the directive and primary regulator.
Prevention of Money-Laundering Act, 2002: Refers to the Prevention of Money Laundering Act, which the Directions comply with.
Central KYC Records Registry (CKYCR): The central repository of KYC records, the use of which is being clarified.
Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Directions, 2025: The original directions being amended by this document.
RBI/2025-26/158
DOR.AML.REC.362/14.01.010/2025-26 December 29, 2025
Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer)
Amendment Directions, 2025
Reserve Bank had issued Reserve Bank of India (Asset Reconstruction Companies –
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 3, 9, 10, 12 and 12A of
the Securitisation and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 (54 of 2002) , 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
(FEMA), 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 (Asset Reconstruction
Companies – 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 (Asset Reconstruction
Companies – Know Your Customer) Directions, 2025 as under:(1) In paragraph 59, the following “Explanation” is being inserted after sub-paragraph
(10):
“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 ARC 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 ARC 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