KYC/AML/CFT Guidelines – Unique Customer Identification Code for banks’ customers in India

Reserve Bank of India, DBOD vide its Notification No RBI/2012-13/515 DBOD. AML.BC. No. 101/14.01.001/2012-13 dt.May 31, 2013, had extended the completion date of allotting UCIC to all their existing and new customers from 30/05/2013 to 31/03/2014.

UCIC is expected to assist the financial institutions in effective implementing Know Your Customer (KYC)/Anti-Money Laundering (AML)/Combating of Financing of Terrorism (CFT) Guidelines.

The main reason for extension of the time is as some banks have expressed difficulties in implementing UCIC for its customers, for various reasons, and have sought more time to allot UCIC to their existing account holders.

The top points about UCIC (Unique Customer Identification Code) – FAQ

01) What is UCIC?

A: UCIC is Unique Customer Identification Code.

RBI vide its Circular DBOD.AML.BC.No. 109/14.01.001/2011-2012 dated June 8, 2012 has advised banks to initiate steps for allotting Unique Customer Identification Code (UCIC) to all its customers while entering into any new relationships.

Unique Cust ID helps the bank to identify customers, track the facilities availed, monitor financial transactions in a comprehensive and combined manner at a customer level and enable the bank to have a better approach to risk profiling of customers.


02)What steps are taken by Banks to ensure Unique Customer Identification Code is allotted to new customers?

A:  UCIC can be effectively implemented only when Banks have Core Banking System (CBS).  In Core Banking System, Banks can allot a unique Customer ID. This (Cust ID)  is expected to  serve as the Unique Customer Identification Code.

03) How do Banks identify customers having multiple customer Ids?

A: It is a combination of technology and trained staff. Combination of various parameters like Name, Pan Number, Date of birth, Mobile Number and Mother’s maiden name are used to identify customers having multiple customer IDs.


Unfortunately, Aadhaar has lost relevance in the recent past, otherwise Aadhaar would have been a very effective UCIC .


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