India to launch common KYC for banks, insurers in August
India's banks and insurers will roll out a common customer-identification system in August, with mutual funds and brokerages joining later in 2026, sources told Reuters. Under Central Know-Your-Customer 2.0, institutions will fetch a customer's details from a Central Registry with only their consent, sparing people from resubmitting ID documents. The RBI, SEBI and the insurance regulator are jointly executing the project.