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ARTICLE · 28 OCTOBER 2025

KYC Simplified: RBI's Customer Centric KYC Amendment Explained

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In 2025-26 budget speech, Finance Minister Ms. Nirmala Sitharaman highlighted the government's commitment to simplifying the Know Your Customer (KYC) process through the rolling out of revamped Central KYC Registry

IndiaFinance and Banking
Anuradha Gandhi
Anuradha Gandhi
Rachita Thakur
Rachita Thakur
Abhishekta Sharma
Abhishekta Sharma
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Introduction

In 2025-26 budget speech, Finance Minister Ms. Nirmala Sitharaman highlighted the government's commitment to simplifying the Know Your Customer (KYC) process through the rolling out of revamped Central KYC Registry. She also announced the introduction of streamlined system for periodic KYC Updates.1 With over 103 crore individuals already registered with the Central KYC Record Registry (CKYCR), the government has urged Regulated Entities (hereinafter referred to as REs) to actively utilize this data for seamless customer onboarding.2

Further advancing this initiative, the Reserve Bank of India (hereinafter referred to as 'RBI') on June 12, 2025 issued three interlinked circulars3 marking a significant reform in KYC framework.

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