Promoting Transparency and Security in Financial Transactions
Udaipur – HDFC Bank, one of India’s leading private sector banks, in collaboration with the Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI), a Government of India entity, successfully conducted a one-day awareness programme on Central KYC Record Registry (CKYCRR).
The initiative aimed at enhancing understanding of Know Your Client (KYC), Anti-Money Laundering (AML) practices, and the effective utilization of CKYCRR data, ensuring a secure and transparent financial ecosystem while mitigating risks associated with fraud and asset duplication.
CERSAI’s Role in Strengthening the Financial Infrastructure
Speaking on the occasion, Mr. Bhavesh Zaveri, Executive Director, HDFC Bank, highlighted the evolution of CERSAI as a central repository for customer KYC documents. He emphasized that CERSAI currently has over 7,000 registered reporting entities and serves as a single-point reference for nearly 100 crore customers, enabling financial institutions to leverage authentic KYC data for compliance and security. Mr. Zaveri also acknowledged the Reserve Bank of India (RBI) for its continuous support in CKYC adoption and implementation.
Mr. Umesh Kumar Singh, MD & CEO, CERSAI, elaborated on the process of record submission to CKYCRR and its role in streamlining customer identification. He also demonstrated how individuals can access their CKYC number via a missed call service or through the CERSAI website, ensuring greater convenience and accessibility. Mr. Singh expressed gratitude to HDFC Bank for hosting the event at Bank House, Mohali.
Participation from Key Financial Entities
The programme witnessed the participation of over 100 senior officials representing private, public, and co-operative banks, NBFCs, and various regulatory bodies, including:
✔ Government of India, Ministry of Finance
✔ Reserve Bank of India (RBI)
✔ Financial Intelligence Unit (FIU-IND)
✔ CERSAI and HDFC Bank
The discussions also covered operational challenges and clarifications related to record submission to CERSAI, aligning with the latest Master Direction on KYC and AML regulations issued by the RBI.
This initiative reaffirms HDFC Bank’s and CERSAI’s commitment to fostering a robust financial framework, promoting compliance, security, and efficiency in India’s financial sector.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
