The Reserve Bank of India has issued the Reserve Bank of India (Urban Co-operative Banks – Know Your Customer) Amendment Directions, 2025, effective immediately, 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, Urban Co-operative 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) obligations under the Directions.
Link – https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=13241&Mode=0
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