India: Amended Master Direction including technology infrastructure location restrictions and network domain rules

On 10 May 2021, the Reserve Bank of India released an amendment of its Master Direction on "Know Your Customer" (KYC). The amended direction should improve the possibility of using video-based customer identification procedures as part of KYC. At the same time, the Reserve Bank also included several operating conditions connected with the usage of video-based customer identification, such as the obligation to in-source technology infrastructure as well as to establish the video-based customer identification processes from the regulated entity's own server.