HDFC Bank and CERSAI Conduct Awareness Programme on CKYCRR

HDFC Bank and CERSAI hosted an awareness event on CKYCRR, educating over 100 banking officials on secure KYC data utilization.

Feb 3, 2025 - 22:11
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HDFC Bank and CERSAI Conduct Awareness Programme on CKYCRR
HDFC Bank and CERSAI Conduct Awareness Programme on CKYCRR

Mohali. HDFC Bank in collaboration with the Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI), successfully conducted a one-day awareness programme on the Central KYC Record Registry (CKYCRR). The initiative aimed to enhance financial institutions' understanding of Know Your Client (KYC) protocols, Anti-Money Laundering (AML) measures, and the secure usage of KYC data available at CKYCRR.

The programme saw participation from over 100 senior officials representing private, public, and cooperative banks, as well as Non-Banking Financial Companies (NBFCs) across India. Key dignitaries from the Government of India, the Ministry of Finance, the Reserve Bank of India (RBI), the Financial Intelligence Unit, CERSAI, and HDFC Bank attended the event.

During the session, Mr. Bhavesh Zaveri, Executive Director – HDFC Bank, highlighted the evolution of CERSAI as a central repository for customer KYC data. He emphasized that CERSAI currently serves over 7,000 reporting entities and maintains records for nearly 100 crore customers, offering a robust framework for financial security. He also acknowledged the continued support of the RBI in the implementation and adoption of Central KYC (CKYC) solutions.

Mr. Umesh Kumar Singh, MD & CEO – CERSAI, elaborated on the process of submitting records under CKYC and its importance in customer identification. He also explained how customers can retrieve their CKYC number through a simple missed call or by following instructions on the CERSAI website. Expressing gratitude towards HDFC Bank, he commended their efforts in hosting the informative session at Bank House, Mohali.

The event also provided a platform for discussing recent updates in RBI’s Master Direction on KYC and AML compliance. Officials addressed operational challenges related to CKYCRR data submission and clarified best practices for ensuring transparency and fraud prevention in financial transactions.

By fostering awareness on CKYCRR, HDFC Bank and CERSAI reinforced their commitment to strengthening India’s financial ecosystem by mitigating risks associated with fraud and asset duplication while promoting regulatory compliance.

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