Quick Summary
Shri. M. Nagaraju, Secretary, Department of Financial Services (DFS) chaired a meeting at Manthan, DFS to discuss the revamp of the Central KYC Records Registry (CKYCR) and key issues related to Know Your Customer (KYC) compliance with the objective of making life of citizen comfortable while availing Financial Services. The meeting included senior officials from concerned Ministries/Departments, financial sector regulators, financial institutions, and other stakeholders. In the meeting,Shri.
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FAQ :
Shri. M. Nagaraju, Secretary of the Department of Financial Services (DFS), chaired the meeting.
The main objective was to discuss the revamp of the Central KYC Records Registry (CKYCR) and address key issues related to Know Your Customer (KYC) compliance to make financial service access easier for citizens.
Senior officials from concerned Ministries/Departments, financial sector regulators, financial institutions, and other stakeholders attended the meeting.
Discussions covered the modernisation of CKYCR, streamlining the KYC process, challenges for individuals and regulated entities, measures taken by the government and regulators, and proposed steps to enhance efficiency, reduce redundancy, and improve security.
Yes, numerous suggestions were received from stakeholders which will be considered for further easing the KYC process.
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