The Reserve Bank of India issued the Reserve Bank of India (Asset Reconstruction Companies – Know Your Customer) Amendment Directions, 2025, modifying the ARC KYC Directions issued on 28 November 2025 to clarify responsibility for customer records uploaded to and downloaded from CKYCR. The amendments take effect immediately and follow a Government of India Department of Revenue office memorandum on “CKYCR and the ultimate responsibility of REs”. The amendment inserts an explanation in paragraph 59 stating that the regulated entity (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. An ARC that downloads and relies on those records is not required to re-verify the authenticity of identity and or address, provided the CKYCR records are current and compliant with the Prevention of Money-Laundering Act, 2002 and the related rules; the ARC remains responsible for all other aspects of customer due diligence and compliance with the Directions. The Amendment Directions are in force with immediate effect.
Reserve Bank of India 2025-12-29
Reserve Bank of India amends ARC KYC directions to clarify reliance on CKYCR records without re-verifying identity and address
The Reserve Bank of India amended the Asset Reconstruction Companies Know Your Customer Directions, 2025, clarifying that the entity that last updated a customer's KYC records in the Central KYC Records Registry is responsible for identity verification. Asset Reconstruction Companies relying on these records are exempt from re-verification if the records are current and compliant with the Prevention of Money-Laundering Act, 2002, but must ensure compliance with all other due diligence requirements.