**Executive Summary**
This document is the Reserve Bank of India (RBI) Amendment Directions, 2025, issued on December 29, 2025. It amends the Reserve Bank of India (Payments Banks – Know Your Customer) Directions, 2025, dated November 28, 2025, to clarify responsibilities regarding customer record uploads and downloads from the Central KYC Records Registry (CKYCR). The amendment takes effect immediately.
**Key Points / Main Content**
* **Purpose:** To clarify the responsibility of entities uploading and downloading customer KYC records from CKYCR.
* **Authority:** Issued under sections 35A of the Banking Regulation Act, 1949, and other relevant laws.
* **Amendment:**
* A new “Explanation” is added to paragraph 65 of the RBI (Payments Banks – KYC) Directions, 2025.
* **Explanation Content:** The RE that last uploaded or updated a customer’s KYC record in the CKYCR is responsible for verifying the identity and/or address. Banks downloading and relying on current, compliant KYC records from the CKYCR are not required to re-verify identity or address. Banks remain responsible for all other aspects of CDD procedures and provisions of the Directions.
**Impact Analysis**
**Reporting Entities (REs) uploading to CKYCR**
* **Impact:** REs that last updated the customer's KYC information are responsible for the verification of identity and/or address.
* **Action Required:** Ensure all KYC records uploaded to CKYCR are current and compliant with the PML Act, 2002 / PML Rules, 2005.
**Banks downloading KYC records from CKYCR**
* **Impact:** Banks downloading KYC records can rely on KYC records for verification of identity and/or address from KYC records which are current and compliant.
* **Action Required:** Ensure downloaded KYC records are current and compliant with the PML Act, 2002 / PML Rules, 2005. Banks must continue to fulfill all other aspects of CDD procedure.
Key Entities Referenced
Reserve Bank of India (Payments Banks – Know Your Customer) Amendment Directions, 2025: The primary subject of the document, outlining amendments to KYC norms for payments banks.
Reserve Bank of India (Payments Banks – Know Your Customer) Directions, 2025: The original directions being amended by the new directions.
PML Act, 2002: Prevention of Money-Laundering Act, 2002. The Directions are issued in compliance with this act.
Banking Regulation Act, 1949: Act that empowers the Reserve Bank of India to issue the directions.
CKYCR: Central KYC Records Registry, relevant to the clarification of responsibilities regarding uploading and downloading customer records.
RBI/2025-26/161
DOR.AML.REC.365/14.01.009/2025-26 December 29, 2025
Reserve Bank of India (Payments Banks – Know Your Customer) Amendment
Directions, 2025
Reserve Bank had issued Reserve Bank of India (Payments 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 sections 35A of the Banking
Regulation Act, 1949, 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 (Payments 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 (Payments 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