APAC · India RBI
RBI Master Directions on Know Your Customer (10 sector-specific directions)
Master DirectionIn Force
- Issuing authority
- RBI penalties under Banking Regulation Act
- Effective date
- New framework effective 28 November 2025 replaces 2016 Master Direction
- Scope
- RBI penalties under Banking Regulation Act
Key requirements
Major change in late 2025. India replaced its single 2016 KYC Master Direction with 10 sector-specific Master Directions — one each for commercial banks, NBFCs, payment banks, cooperative banks and other regulated entities. Key points: Aadhaar (India's national ID) is no longer mandatory for KYC; low-risk customers have until 30 June 2026 to update their KYC; V-CIP (Video Customer Identification Procedure) tightened; banking correspondent-led KYC formalised.
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