PNB Hosts 19th Awareness Programme on CKYCRR

Punjab National Bank (PNB) successfully hosted the 19th Awareness Programme on Central KYC Records Registry (CKYCRR) for Reporting Entities in Gurugram. Organized by CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India), the event served as a critical platform for senior financial officials to align on the latest regulatory standards for identity verification and anti-money laundering efforts.

The seminar emphasized the importance of a unified KYC database in creating a "Circular Economy" of data, where a customer’s verified identity can be safely used across multiple financial institutions without repeated document submissions.

Key Highlights and Participation

• Dignified Leadership: The event featured top regulators including Sh. Umesh Kumar Singh (MD & CEO, CERSAI), Sh. Honey Pataudi (Dy. Director, FIU-INDIA), and Sh. Anmol Chopra (DGM, RBI), who shared insights on strengthening the national financial security grid.

• Keynote Address: PNB Executive Director, Sh. B P Mahapatra, delivered the keynote, stressing that robust compliance is not just a regulatory requirement but the foundation of financial integrity.

• Wider Attendance: Over 300 senior officials from various banks, mutual fund houses, and insurance companies participated to discuss operational challenges and collaborative solutions.

Strategic Objectives of the Programme

1. Enhancing Data Quality: Training entities to ensure that KYC records uploaded to the central registry are accurate, legible, and compliant with updated RBI and PMLA (Prevention of Money Laundering Act) guidelines.

2. Combating Financial Crime: Strengthening the role of the Financial Intelligence Unit (FIU-INDIA) by providing a cleaner database to track and prevent money laundering and identity theft.

3. Customer Convenience: Reinforcing the use of the 14-digit CKYC Identifier, which allows customers to open accounts across the financial sector using a single registration.