**Executive Summary**
The Reserve Bank of India (RBI) issued amendment directions on December 29, 2025, to its "Know Your Customer" (KYC) Directions for Commercial Banks, originally issued on November 28, 2025. These amendments clarify the responsibility for verifying customer KYC records uploaded to and downloaded from the Central KYC Records Registry (CKYCR), in line with an office memorandum from the Department of Revenue, Government of India, dated September 18, 2025. The directions come into effect immediately.
**Key Points / Main Content**
* **Amendment Overview:**
* These directions are called the "Reserve Bank of India (Commercial Banks – Know Your Customer) Amendment Directions, 2025."
* The Amendment modifies the "Reserve Bank of India (Commercial Banks – Know Your Customer) Directions, 2025."
* These Directions come into force with immediate effect.
* **Clarification on KYC Verification Responsibility:**
* In paragraph 65, a new "Explanation" is added after sub-paragraph (10) of the original directions.
* The RE (Regulated Entity) that last uploaded or updated customer KYC records to CKYCR is responsible for verifying the customer's identity and/or address.
* A bank downloading and relying on current KYC records from CKYCR, compliant with the PML Act, 2002 / PML Rules, 2005, is not required to re-verify the authenticity of the customer's identity and/or address.
* The downloading bank remains responsible for all aspects of CDD (Customer Due Diligence) procedures except verification of identity and/or address.
**Impact Analysis**
**Commercial Banks**
* **Impact:** Clarifies KYC verification responsibilities when using CKYCR, potentially streamlining the onboarding process for new customers.
* **Action Required:** Ensure compliance with the amended directions regarding KYC verification and CDD procedures, especially when using CKYCR.
Key Entities Referenced
Reserve Bank of India (Commercial Banks – Know Your Customer) Directions, 2025: The primary directions being amended by the current document, which relate to KYC compliance for commercial banks.
Reserve Bank of India: The issuing authority of the directions.
Banking Regulation Act, 1949: Act that confers powers to RBI to issue the directions.
PML Act, 2002: Prevention of Money Laundering Act, compliance with which is referenced in the document.
CKYCR: Central KYC Records Registry; the directions clarify the responsibility of entities uploading/downloading customer 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