For many customers today, the first encounter with a bank or financial institution is no longer a branch visit – it is a video call, a document upload and a selfie. Digital onboarding has become the industry’s new front door, and in India it is a door that millions walk through: cumulative e-KYC transactions crossed […]
In the context of risk management; the infamous epistemology of uncertainty – “there are known knowns, known unknowns, and unknown unknowns” is well understood. This maps seamlessly with the unsettling precision onto the world of Know Your Customer (KYC) compliance in Indian financial services. The known knowns are the KYC documents we collect. The known […]
The Central KYC Records Registry (CKYCRR) has made significant strides in digitizing Know Your
Customer (KYC) records across India. As on date, CKYCRR holds approximately 112 crore digitized CKYC
records against India’s population. While this represents a landmark achievement, the challenge of
legacy data compliance among Reporting Entities (REs) remains a substantive concern that requires
immediate attention and structured remediation.
We often obsess over the visible giants of the Indian economy, such as UPI, adoption of digital transactions and the rapid growth of the financial ecosystem. Yet, the real engine of our economic explosion seems to be invisible. It is a silent digital handshake happening millions of times a day between a central registry and a financial institution.
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.
This is to inform you about a new feature in CKYCRR that will enable reporting entities (REs) to flag KYC
records of deceased customers.
The framework governing the quality of KYC records uploaded to the CKYCRR is already prescribed/published on the CKYC website under the operating documents/guidelines tab & REs are advised to follow these parameters reiterated in a compiled form.
A new module has been rolled out to manage the deactivation of duplicate KYC records that are observed in CKYCR. It’s designed to help reporting entities (REs) in reporting, merging & deactivating duplicate KYC records.
This is to inform that in compliance with the order dated April 30, 2025, of Honorable Supreme Court regarding “Accessibility to Digital KYC process to Differently Abled Persons”, the following details shall be collected by CKYCRR:
Further to communique CKYC/2024/10 dated December 24, 2024, REs are hereby informed of process for claiming incentives for eligible transactions carried out
in CKYCRR. Effective January 1, 2025, REs shall be eligible to claim incentives as per the following rates mentioned in the document.