We at Finakon track the regulatory changes. We also use AI to create a summary. We are providing a quick overview of the RBI circulars on a weekly basis on our website. The summary is neither exhaustive nor comprehensive. For accurate information, users shall refer to the original circular of the regulator. Finakon shall not be responsible for inferences drawn based on the summary provided.
Bank of Baroda Assigned Lead Role for Newly Formed Vav-Tharad District
The Government of Gujarat has officially notified the creation of a new district, Vav-Tharad, through Gazette Notification No. GHM/2025/210/M/RD/RCO/e-file/15/2025/5360/L1 dated September 24, 2025. In line with this, the Lead Bank responsibility for Vav-Tharad has been assigned to Bank of Baroda. The district has been allocated the District Working Code 02U.
There are no changes to the Lead Bank assignments for other districts in Gujarat.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13231
Phase 2 of Continuous Clearing in CTS Postponed
The Reserve Bank of India has announced an update on the Continuous Clearing and Settlement on Realisation in the Cheque Truncation System (CTS). While Phase 1 was implemented on October 4, 2025, the Phase 2 rollout has been postponed until further notice to provide banks additional time to streamline operations.
Additionally, session timings have been revised:
- Presentation session: 09:00 AM to 03:00 PM
- Confirmation session: 09:00 AM to 07:00 PM
This directive is issued under the Payment and Settlement Systems Act, 2007.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13232
RBI Clarifies KYC Responsibilities for All India Financial Institution
The Reserve Bank of India has issued the Amendment Directions, 2025 to the All India Financial Institutions – Know Your Customer (KYC) Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Any financial institution downloading these records from CKYCR does not need to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and associated rules.
However, the downloading institution remains responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13233
RBI Updates KYC Guidelines for Asset Reconstruction Companies
The Reserve Bank of India has issued the Amendment Directions, 2025 to the Asset Reconstruction Companies (ARC) – Know Your Customer (KYC) Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Any ARC downloading these records from CKYCR does not need to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and associated rules.
ARCs remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13234
RBI Updates KYC Responsibilities for Local Area Banks
The Reserve Bank of India has issued the Amendment Directions, 2025 to the Local Area Banks (LAB) – Know Your Customer (KYC) Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Any LAB downloading these records from CKYCR does not need to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and associated rules.
LABs remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13235
RBI Updates KYC Guidelines for NBFCs
The Reserve Bank of India has issued the Amendment Directions, 2025 to the Non-Banking Financial Companies (NBFC) – Know Your Customer (KYC) Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Any NBFC downloading these records from CKYCR does not need to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and related rules.
NBFCs remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13236
RBI Updates KYC Guidelines for Payments Banks
The Reserve Bank of India has issued the Amendment Directions, 2025 to the Payments Banks – Know Your Customer (KYC) Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Any payments bank downloading these records from CKYCR does not need to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and related rules.
Payments banks remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13237
RBI Updates KYC Guidelines for Regional Rural Banks
The Reserve Bank of India has issued the Amendment Directions, 2025 to the Regional Rural Banks – Know Your Customer (KYC) Directions, 2025.
The amendment specifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Any regional rural bank downloading these records does not need to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and related rules.
Regional rural banks remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13238
RBI Updates KYC Guidelines for Rural Co-operative Banks
The Reserve Bank of India has issued the Rural Co-operative Banks – Know Your Customer (KYC) Amendment Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Any rural co-operative bank downloading these records does not need to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and associated rules.
Rural co-operative banks remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13239
RBI Revises KYC Responsibilities for Small Finance Banks
The Reserve Bank of India has issued the Small Finance Banks – Know Your Customer (KYC) Amendment Directions, 2025.
The amendment specifies that the entity that last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Small finance banks that download these records are not required to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and related rules.
Banks remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These changes are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13240
RBI Updates KYC Guidelines for Urban Co-operative Banks
The Reserve Bank of India has issued the Urban Co-operative Banks – Know Your Customer (KYC) Amendment Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Urban co-operative banks downloading these records are not required to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and associated rules.
Banks remain responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These amendments are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13241
RBI Revises KYC Guidelines for Commercial Banks
The Reserve Bank of India has issued the Commercial Banks – Know Your Customer (KYC) Amendment Directions, 2025.
The amendment clarifies that the entity which last uploads or updates a customer’s KYC records in the Central KYC Registry (CKYCR) is responsible for verifying the customer’s identity and address. Commercial banks that download and rely on these records are not required to re-verify identity or address, provided the records are current and compliant with the PML Act, 2002 and related rules.
Banks continue to be responsible for all other aspects of Customer Due Diligence (CDD) and compliance under the Directions. These amendments are effective immediately.
https://www.rbi.org.in/Scripts/BS_CircularIndexDisplay.aspx?Id=13242
