**Executive Summary**
The Reserve Bank of India (RBI) has issued amendment directions, effective immediately on December 29, 2025, modifying its "Know Your Customer (KYC)" directions for commercial banks. These changes clarify responsibilities for uploading and downloading customer KYC records from the Central KYC Records Registry (CKYCR), pursuant to the Prevention of Money Laundering Act (PMLA) and related guidelines. The amendment aims to streamline the KYC process and reduce redundant verification efforts.
**Key Points / Main Content**
* **Amendment Overview:**
* The amendment modifies the Reserve Bank of India (Commercial Banks - Know Your Customer) Directions, 2025.
* **Responsibility for KYC Verification:**
* The RE (Regulated Entity) that last uploaded or updated a customer's KYC records in the CKYCR is responsible for verifying the identity and/or address of the customer.
* **Reliance on CKYCR Records:**
* Banks downloading and relying on KYC records from CKYCR are not required to re-verify the authenticity of the customer's identity and/or address, provided the downloaded records are current and compliant with the PML Act, 2002 / PML Rules, 2005.
* **CDD (Customer Due Diligence) Obligations:**
* Banks downloading KYC records from CKYCR remain responsible for all other aspects of the CDD procedure, except for the verification of identity and/or address.
**Impact Analysis**
**Commercial Banks**
* **Impact:** Reduced burden of re-verifying customer identity and address when using current and compliant CKYCR records.
* **Action Required:** Update internal processes and procedures to align with the revised KYC guidelines, specifically regarding reliance on CKYCR records and responsibility for CDD compliance.
**Regulated Entities (REs) uploading data to CKYCR**
* **Impact:** Continued responsibility for verifying the accuracy of initial KYC information uploaded to the CKYCR.
* **Action Required:** Ensure robust procedures for verifying customer identity and address before uploading or updating KYC records to the CKYCR.
Key Entities Referenced
Reserve Bank of India (Commercial Banks – Know Your Customer) Amendment Directions, 2025: The primary subject of the document, outlining amendments related to KYC norms for commercial banks.
PML Act, 2002: Prevention of Money Laundering Act, 2002, compliance with which is crucial to the directions.
Reserve Bank of India: The issuing regulatory body of the amendment directions.
Banking Regulation Act, 1949: The Act under which the Reserve Bank of India derives its authority to issue directions.
CKYCR: Central KYC Records Registry; the directions clarify responsibilities related to uploading and downloading KYC records from CKYCR.
RBI/2025-26/166
DOR.AML.REC.370/14.01.002/2025-26 December 29, 2025
Reserve Bank of India (Commercial Banks – Know Your Customer) Amendment
Directions, 2025
Reserve Bank had issued Reserve Bank of India (Commercial Banks – 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 section 35A of the Banking
Regulation Act, 1949, section 10(2) read with section 18 of Payment and Settlement
Systems Act, 2007, section 11(1) of the Foreign Exchange Management Act, 1999, Rule
9(14) of 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 (Commercial Banks –
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 (Commercial Banks –
Know Your Customer) Directions, 2025 as under:(1) In paragraph 65, 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 bank 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 bank 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