Jammu Kashmir Bank Hosts First-Ever CKYC Awareness Programme | Kashmir Life

SRINAGAR: Reinforcing its commitment to strengthening compliance frameworks and regulatory awareness in the financial sector, Jammu Kashmir Bank on Monday hosted the 23rd Awareness Programme on the Central KYC Record Registry (CKYCRR) at its Corporate Headquarters here.

The programme was conducted by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) and marked the first-ever awareness programme on Central Know Your Customer (CKYC) held in the Union Territory of Jammu and Kashmir.

The initiative aimed to provide detailed insights into KYC and Anti-Money Laundering (AML) compliance, the effective use of CKYC data available at the CKYCRR platform, and the operational processes that regulated financial entities are required to follow.

The inaugural session was chaired by the bank’s Executive Director, Sudhir Gupta. Senior officials from the regulatory and financial ecosystem attended the programme, including Deputy Director of the Financial Intelligence Unit – India G. Anand, Deputy General Manager and Chief Technology Officer of CERSAI Vijendra Pal Singh, and the bank’s General Manager and Group Compliance Officer Peer Masood Ahmad. Senior representatives from banks and financial institutions operating across the Union Territory also participated.

Officials from the Reserve Bank of India, including AGM Anmol Chopra and his team, joined the programme virtually from the RBI Central Office in Mumbai.

Addressing the gathering, Sudhir Gupta highlighted the increasing importance of robust compliance mechanisms in the evolving digital financial landscape.

“The rapid expansion of digital transactions has increased exposure to risks such as cyber fraud, identity theft, mule accounts, money laundering and terror financing. In such an environment, strengthening Know Your Customer and Anti-Money Laundering frameworks becomes extremely important to safeguard the integrity and credibility of the financial system. This is where the Central KYC Records Registry assumes great significance,” he said.

Gupta added that the bank has taken consistent steps to integrate CKYCRR processes into its internal systems and digitise KYC records across its branch network, while also investing in staff training and capacity building to ensure effective implementation of evolving compliance requirements.

Earlier, welcoming the participants, Peer Masood Ahmad said the programme was timely, given the rapidly evolving financial landscape in India.

“We are honoured to host CERSAI’s 23rd such programme—and the first on CKYC in the Union Territory of Jammu and Kashmir. The presence of top executives and experts underscores the importance of this gathering,” he said.

Highlighting the significance of compliance frameworks, he said KYC and AML systems form the “first line of defence” for the integrity and stability of India’s financial system.

“By adopting proper KYC and AML practices, we can stop the misuse of banking channels by terrorists, money launderers or narcotic traders,” he added.

The programme saw participation from over 200 officers representing various regulated entities across the Union Territory.

During the event, expert presentations were delivered by officials from the RBI, FIU-India and CERSAI on subjects including the KYC–AML regulatory framework, AML and counter-terror financing compliance, and operational aspects of the CKYCRR platform.

The sessions were followed by an interactive question-and-answer segment where participants engaged with experts on operational and regulatory issues related to KYC and AML compliance.

The programme concluded with a vote of thanks by the bank’s AGM (KYC-AML) Noorul Ameen, who thanked the dignitaries and participants for their engagement and acknowledged CERSAI for conducting the awareness programme in Jammu and Kashmir.