The Reserve Bank of India issued the Reserve Bank of India (Urban Co-operative Banks – Know Your Customer) Amendment Directions, 2025, effective immediately, updating its November 2025 KYC framework for urban co-operative banks to clarify accountability for customer identity and address verification when KYC records are uploaded to and downloaded from CKYCR. The amendment inserts an explanation in paragraph 64 specifying that the RE that last uploaded or updated a customer’s KYC record in CKYCR is responsible for verifying the customer’s identity and or address, as applicable. Banks downloading and relying on CKYCR records are not required to re-verify identity and or address authenticity where 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, but remain responsible for all other aspects of customer due diligence and compliance with the Directions. The change is framed as aligning with a Department of Revenue office memorandum on “CKYCR and the ultimate responsibility of REs – reg.”
Reserve Bank of India 2025-12-29
Reserve Bank of India amends urban co-operative banks KYC Directions to clarify CKYCR verification responsibilities for uploaders and relying banks
The Reserve Bank of India amended the Reserve Bank of India (Urban Co-operative Banks – Know Your Customer) Directions, 2025, clarifying accountability for customer identity and address verification in CKYCR records. The amendment specifies that the entity last updating a customer's KYC record is responsible for verification, while banks relying on current CKYCR records are exempt from re-verification but must ensure compliance with other due diligence requirements.