NIFTY FUTURE TIPS | Mumbai: The RBI Thursday said an announcement by the government naming the entity, which will function as the Central KYC document Registry (CKYCR), is wonted Soon.

CKYCR would receive, store, safeguard and retrieve the 'Know Your Customer" documented in digital form of a Consumer, for which necessary amendments to the related rules have been declared.

The KYC records acknowledged and stored by the CKYCR could be retrieved online by any reporting entity across the financial stratum.

"A formal declaration by the Gov. naming the entity which will function as the CKYCR is expected shortly,"RBI said in a statement.

It advised banks, payment system patriarch, system participants and prepaid payment gadget issuers, and others to "be in readiness to share the KYC records" with the CKYCR once the CKYCR is notified by the gov.

In order to facilitate collating and reporting the KYC records to the introdused CKYCR, RBI said the templates have been finalized in deliberation with other regulators and CBDT (separate for solos and legal entity).

In case of starting of 'Small Accounts', only personal details together with the full records would be acquire in the template.

RBI further said the KYC records captured by the template also fulfill the reporting demand under Overseas Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS).