The Reserve Bank of India has issued the Reserve Bank of India (Local Area Banks – Know Your Customer) Amendment Directions, 2025, which have come into force with immediate effect, to clarify responsibilities relating to the Central KYC Records Registry (CKYCR). As per the amendment, the regulated entity (RE) that last uploads or updates a customer’s KYC records in CKYCR shall be responsible for verification of the customer’s identity and/or address. Accordingly, Local Area Banks downloading and relying on such KYC records are not required to re-verify identity or address, provided the records are current and compliant with the PML framework, while continuing to remain responsible for all other customer due diligence (CDD) requirements under the Directions.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13235&Mode=0
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