Srinagar, Mar 17: Reinforcing its commitment to strengthening compliance frameworks and promoting regulatory awareness across the financial sector in the region, J&K Bank today hosted the 23rd Awareness Programme on Central KYC Record Registry (CKYCRR) conducted by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) at its Corporate Headquarters here.
Notably, this was the first-ever such programme on CKYC held in the Union Territory of Jammu & Kashmir, aimed at providing comprehensive insights on KYC/AML compliance, effective utilization of CKYC data available at CKYCRR, and the processes to be followed by regulated entities.
The inaugural session of the programme was chaired by the Bank’s Executive Director Sudhir Gupta and attended by senior officials from the financial regulatory ecosystem including Deputy Director, Financial Intelligence Unit – INDIA G. Anand, DGM & Chief Technology Officer CERSAI Vijendra Pal Singh, and the Bank’s General Manager & Group Compliance Officer Peer Masood Ahmad, besides senior officials from banks and financial institutions operating across the Union Territory.
AGM RBI Anmol Chopra and his team joined the event virtually from the RBI Central Office in Mumbai. The programme witnessed enthusiastic participation from officers representing multiple regulated entities across the region.
Addressing the gathering, Executive Director Sudhir Gupta highlighted the growing importance of robust compliance mechanisms in an increasingly digital financial landscape. He said, “The rapid expansion of digital transactions has increased exposure to risks such as cyber frauds, 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, or CKYCRR, assumes great significance.”
He further emphasized the Bank’s efforts to integrate compliance systems with technology-driven processes. “Over the past few years, J&K Bank has taken consistent steps to integrate CKYCRR processes within our internal systems and to digitize KYC records across our branch network. At the same time, we have focused on training and capacity building, ensuring that our employees remain well equipped to understand and implement evolving compliance requirements. Because ultimately, the strength of any regulatory framework depends not only on systems and technology, but also on the people who implement it,” he added.
Underscoring the significance of such knowledge-sharing initiatives, ED remarked that programmes like the CERSAI Awareness Programme help build stronger compliance culture within the financial sector.
Earlier, while welcoming the participants to the programme, the Bank’s General Manager & Group Compliance Officer Peer Masood Ahmad said, “We are honoured to host CERSAI’s 23rd such programme—and the first on CKYC in the Union Territory of Jammu & Kashmir. The presence of top executives and experts underscores the timeliness of this gathering amid India’s dynamic financial landscape.” Highlighting the critical role of KYC and AML frameworks, he said, “The KYC and AML systems form the ‘first line of defence’ for the integrity and stability of India’s financial system. By adopting proper KYC/AML practices we can stop the misuse of banking channels by terrorists, money launderers or narcotic traders.”
Reaffirming the Bank’s commitment towards strengthening compliance awareness, he added, “At J&K Bank, we champion this defence. And we remain committed to supporting such initiatives that strengthen regulatory awareness, promote best practices in compliance, and enhance the overall robustness of the financial ecosystem. With over 200 participants from various regulated entities, the discussions and knowledge-sharing sessions today undoubtedly contributed to improving compliance practices and operational efficiency across the financial sector in the region.”
During the programme, expert presentations were delivered by officials from the Reserve Bank of India, Financial Intelligence Unit–India (FIU-IND) and CERSAI. The sessions covered topics including KYC–AML regulatory framework, AML/Counter-Terror Financing (CTF) compliance, and the operational aspects and utilization of the CKYCRR platform.
The presentations were followed by an interactive question-and-answer session, where participants engaged with the experts to clarify operational and regulatory issues relating to KYC and AML compliance.
The programme concluded with a vote of thanks by the Bank’s AGM (KYC-AML) Noorul Ameen, who expressed gratitude to the dignitaries and participants for their active involvement and placed on record the Bank’s appreciation for CERSAI for conducting such a prestigious programme in Jammu and Kashmir
