The Reserve Bank of India issued amendment directions to its Small Finance Banks Know Your Customer Directions, 2025 to clarify which regulated entity is responsible for verifying customer identity and address when KYC records are uploaded to and downloaded from CKYCR. The amendment inserts an explanation in paragraph 66 stating that the regulated entity that last uploaded or updated the 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 records is not required to re-verify authenticity of identity and or address, provided the downloaded KYC records are current and compliant with the Prevention of Money-Laundering Act, 2002 and the related rules; however, the downloading bank remains responsible for all other aspects of customer due diligence and compliance with the directions. The amendment takes effect immediately.
Reserve Bank of India 2025-12-29
Reserve Bank of India amends small finance bank KYC directions to clarify CKYCR upload and download verification responsibility
The Reserve Bank of India amended its Small Finance Banks Know Your Customer Directions, 2025, clarifying that the entity last updating KYC records in CKYCR is responsible for verifying customer identity and address. Banks downloading these records are not required to re-verify them if they are current and compliant with the Prevention of Money-Laundering Act, 2002, but must ensure all other due diligence and compliance.