RBI makes 6 amendments KYC Directions

Current Context: The Reserve Bank of India (RBI) announced six key amendments to the Know Your Customer (KYC) directions on November 6, 2024.

These amendments are aimed at enhancing customer due diligence, improving the sharing of KYC information with the Central KYC Records Registry (CKYCR), and aligning with recent amendments in the Prevention of Money Laundering (Maintenance of Records) Rules.
The updated provisions came into effect immediately.
Key Amendments:

Customer Acceptance Policy: The CDD procedure will now be applied at the UCIC (Unique Customer Identification Code) level, eliminating the need for fresh CDD for existing KYC-compliant customers opening new accounts or availing other services.
High-Risk Accounts: The explanation that high-risk accounts require intensified monitoring has been shifted to apply to specific sub-paragraphs of paragraph 37.
Updation/Periodic Updation of KYC: The phrase "updation" has been added to provide clarity on periodic updation requirements.
CDD Procedure and CKYCR: Amendments to paragraph 56(h) ensure that all KYC records are incrementally uploaded to CKYCR, with updates being communicated to all reporting entities.
Alignment with PMLA Rules: The KYC directions have been aligned with recent amendments in the Prevention of Money Laundering (Maintenance of Records) Rules, 2005.
Addressing Customer Grievances: Enhanced mechanisms for addressing customer grievances related to KYC processes have been introduced.

Question:

1 Which level is now applied for the Customer Due Diligence (CDD) procedure under the RBI’s updated KYC directions?