The Reserve Bank of India has issued the Non-Banking Financial Companies – Know Your Customer (KYC) Amendment Directions, 2025, effective immediately, to clarify responsibility for customer KYC records stored in the Central KYC Records Registry (CKYCR). The amendment aligns the NBFC KYC framework with the Department of Revenue’s clarification on ultimate responsibility under the Prevention of Money-Laundering regime. It specifies that the regulated entity which last uploaded or updated a customer’s KYC information in CKYCR shall be responsible for verifying the customer’s identity and/or address. As a result, NBFCs that download and rely on such KYC records are not required to re-verify identity or address, provided the records are current and compliant with the PML Act and Rules. However, the NBFC relying on CKYCR data continues to remain responsible for all other customer due diligence and compliance obligations under the KYC Directions. The amendment seeks to eliminate duplication, enhance operational efficiency, and ensure clear accountability without diluting AML safeguards.
RESERVE BANK OF INDIA
RBI/2025-26/160
DOR.AML.REC.364/14.01.003/2025-26 | Dated: December 29, 2025
Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Amendment Directions, 2025
Reserve Bank had issued Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Directions, 2025 dated November 28, 2025 (hereinafter referred to as the Directions) in compliance of the provisions of the PML Act, 2002 and the Rules made thereunder. There is a need to amend the Directions to clarify the responsibility of entities uploading customer records to and downloading the same from CKYCR, based on the office memorandum (OM) titled “CKYCR and the ultimate responsibility of REs – reg.” issued by the Department of Revenue, Govt of India, dated September 18, 2025.
2. Accordingly, in exercise of the powers conferred by sections 45JA, 45K, and 45L of the Reserve Bank of India Act, 1934, section 10(2) read with section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007), section 11(1) of the Foreign Exchange Management Act (FEMA), 1999, section 30A of the National Housing Bank Act, 1987, Rule 9(14) of the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, and all other enabling laws in this regard, the Reserve Bank being satisfied that it is necessary and expedient in the public interest so to do, hereby issues the Amendment Directions hereinafter specified.
3. Short Title and Commencement
(1) These Directions shall be called the Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Amendment Directions, 2025.
(2) These Directions shall come into force with immediate effect.
4. These Amendment Directions modify the Reserve Bank of India (Non-Banking Financial Companies – Know Your Customer) Directions, 2025 as under:
(1) In paragraph 63, the following “Explanation” is being inserted after sub-paragraph (9):
“Explanation: The RE that has last uploaded or updated the customer’s KYC records in the CKYCR shall be responsible for verifying the identity and / or address of the customer, as applicable. Accordingly, any NBFC downloading and relying on such records from the CKCYR shall not be required to re-verify the authenticity of the customer’s identity and / or address, provided the KYC records downloaded from CKYCR are current and compliant with the PML Act, 2002 / PML Rules, 2005. The NBFC downloading and relying on KYC records downloaded from the CKCYR shall remain responsible for all aspects of CDD procedure and provisions of these Directions, except verification of identity and / or address of the customer.”
(Veena Srivastava)
Chief General Manager
