Excelsior Correspondent
SRINAGAR, Mar 16: Reinforcing its commitment to strengthening compliance systems and regulatory awareness, J&K Bank today hosted the 23rd awareness programme on the Central KYC Record Registry (CKYCRR) at its Corporate Headquarters in Srinagar.
The programme was conducted by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) and marked the first such awareness programme on CKYC held in the Union Territory of Jammu and Kashmir.
The inaugural session was chaired by the Bank’s Executive Director Sudhir Gupta and was attended by senior officials from various financial regulatory bodies and institutions.
Among those present were Deputy Director Financial Intelligence Unit-India G Anand, DGM and Chief Technology Officer CERSAI Vijendra Pal Singh, and the Bank’s General Manager and Group Compliance Officer Peer Masood Ahmad.
Officers from banks and financial institutions across the Union Territory also participated in the programme, while AGM RBI Anmol Chopra and his team joined the event virtually from the RBI Central Office in Mumbai.
Addressing the gathering, Sudhir Gupta highlighted the increasing need for strong compliance systems in the rapidly growing digital financial environment.
He said the expansion of digital transactions has also increased risks such as cyber frauds, identity theft, mule accounts, money laundering and terror financing.
In such a situation, he said, robust Know Your Customer (KYC) and Anti-Money Laundering (AML) frameworks play an important role in protecting the credibility of the financial system.
Gupta said J&K Bank has taken several steps in recent years to integrate CKYCRR processes into its internal systems and digitize KYC records across its branch network.
More than 200 officers from various regulated entities participated in the programme.
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