RBI Issues a Circular in Regard to the Amendment of the Master Direction on KYC

On 28th April 2023, the Reserve Bank of India (RBI) issued a circular in regard to the amendment to the Master Direction (MD) on KYC.

This circular was issued in reference to the Master Direction (MD) on KYC issued on 25th February 2016, which is amended from time to time, in terms of which Regulated Entities (REs) have to undertake Customer Due Diligence (CDD), as per the process laid out therein, for their customers