The Reserve Bank of India, vide six parallel notifications dated September 18, 2026 (RBI/2026-27/257 to 262), amended the Know Your Customer Directions, 2025 for Commercial Banks, Small Finance Banks, Local Area Banks, Regional Rural Banks, Urban Co-operative Banks, and Rural Co-operative Banks with immediate effect.
The amendment substitutes the relevant sub-paragraph of Paragraph 4(1)(v)/5(1)(v) across each set of Directions to extend the certified copy facility — hitherto available only to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) under FEMA 5(R) — to Foreign Portfolio Investors (FPIs). Going forward, banks may accept certified copies attested by: (a) authorised officials of overseas branches of Scheduled Commercial Banks registered in India; (b) branches of overseas banks with whom Indian banks maintain correspondent relationships; (c) a Notary Public abroad; (d) a Court Magistrate or Judge; or (f) the Indian Embassy or Consulate General in the country of the non-resident customer's residence. Banks are advised to update their KYC/AML policies, account-opening SOPs, and onboarding documentation to reflect the extended facility for FPI customers and communicate the same to their compliance, operations, and customer onboarding teams.
