**Executive Summary**
This document, issued by the Reserve Bank of India on December 29, 2025, contains amendment directions to the "Reserve Bank of India (Payments Banks – Know Your Customer) Directions, 2025". It clarifies the responsibility of entities uploading and downloading customer records from the Central KYC Records Registry (CKYCR) and comes into effect immediately.
**Key Points / Main Content**
* **Amendment Scope:**
* These directions are called the "Reserve Bank of India (Payments Banks – Know Your Customer) Amendment Directions, 2025."
* These directions modify the "Reserve Bank of India (Payments Banks – Know Your Customer) Directions, 2025".
* **Amendment Details:**
* An Explanation is being inserted after sub-paragraph (10) of paragraph 65 to clarify responsibility for KYC verification.
* The RE that last uploaded or updated the customer's KYC records in CKYCR is responsible for verifying the customer's identity and address.
* Banks downloading and relying on KYC records from CKYCR are not required to re-verify identity or address if the records are current and compliant with the PML Act, 2002 / PML Rules, 2005.
* Downloading banks remain responsible for all other aspects of CDD procedure and provisions of these Directions, except verification of identity and/or address.
**Impact Analysis**
**Reserve Bank of India (Payments Banks)**
* **Impact:** Must adhere to the amended directions regarding KYC verification and responsibility for CKYCR records.
* **Action Required:** Implement the changes to their KYC procedures as per the clarification provided in the Amendment Directions.
**Entities uploading/downloading customer records to/from CKYCR**
* **Impact:** Clarification of responsibilities regarding KYC verification depending on whether they are the uploading or downloading entity.
* **Action Required:** Adhere to the explanation provided, by only uploading updated records and trusting uploaded records that comply with the PML act.
Key Entities Referenced
Reserve Bank of India (Payments Banks – Know Your Customer) Amendment Directions, 2025: The primary subject of the document, these are amendment directions issued by the Reserve Bank of India concerning KYC procedures for payment banks.
Reserve Bank of India (Payments Banks – Know Your Customer) Directions, 2025: The directions that the amendment directions are modifying.
Reserve Bank of India: The regulator issuing the amendment directions.
Banking Regulation Act, 1949: The act that grants RBI power, under section 35A, to issue the amendment directions.
Prevention of Money-Laundering (Maintenance of Records) Rules, 2005: Rules that empower the RBI to issues amendment directions.
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