FocusCDD / EDD & UBO
RegulatorReserve Bank of India
Role FitKYC & Compliance Ops
What Changed / Key Developments
- Regulated entities must keep customer identity, current address, and beneficial ownership records aligned with RBI Master Direction on KYC.
- Periodic KYC update intervals depend on customer risk classification (low, medium, high) rather than a single flat schedule.
- Digital onboarding flows (such as V-CIP) still require auditable maker-checker verification and clear tamper checks.
Why It Matters for Finance & Banking Teams
For KYC, CDD, and compliance analysts, audit exceptions rarely come from complex law—they happen when expired OVDs, mismatched UBO percentages, or missing escalation notes pass unchecked. Practising neutral gap notes and risk-based triage directly prepares freshers for onboarding interviews.
Primary ReferenceRBI Master Direction & KYC Notifications
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