The Reserve Bank of India (RBI) has issued six parallel amendment directions, 2026, amending the Know Your Customer (KYC) framework applicable to commercial banks, small finance banks, local area banks, regional rural banks, urban co-operative banks and rural co-operative banks. Effective from 18 September 2026, the amendments extend the existing alternative certified-copy mechanism, previously available to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs), to Foreign Portfolio Investors (FPIs). Accordingly, FPIs may submit original certified copies of specified KYC documents certified by recognised authorities, including authorised officials of overseas branches of Scheduled Commercial Banks registered in India, branches of overseas banks having relationships with Indian banks, Notary Publics abroad, Court Magistrates, Judges, or Indian Embassies/Consulates General. The amendment facilitates overseas KYC documentation for FPIs while retaining the underlying customer identification and verification requirements applicable to regulated entities.
