The Reserve Bank of India has issued amendment directions to its Rural Co-operative Banks – Know Your Customer Directions, 2025 to clarify which entity is responsible for verifying customer identity and or address when KYC records are uploaded to and downloaded from CKYCR. The changes are framed as a clarification aligned to a Government of India Department of Revenue office memorandum on the “ultimate responsibility” of REs. An explanation has been inserted in paragraph 64 to specify that the RE that last uploaded or updated a customer’s KYC records in CKYCR is responsible for verifying the customer’s identity and or address, as applicable. A bank downloading and relying on those CKYCR records is not required to re-verify the authenticity of the customer’s identity and or address, provided the downloaded records are current and compliant with the Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, while remaining responsible for all other aspects of the CDD procedure and the directions.
Reserve Bank of India 2025-12-29
Reserve Bank of India amends rural co-operative banks KYC directions to clarify CKYCR upload and reliance responsibilities
The Reserve Bank of India amended its Rural Co-operative Banks – Know Your Customer Directions, 2025, clarifying responsibility for verifying customer identity and address when KYC records are managed via CKYCR. The entity that last updated the KYC records is responsible for verification, while banks downloading these records are exempt from re-verification if the records are current and compliant with anti-money laundering regulations.