MCA Eases Director KYC Compliance to Once Every Three Years
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MCA Eases Director KYC Compliance to Once Every Three Years

The Ministry of Corporate Affairs (MCA) has eased Know Your Customer (KYC) compliance for company directors, shifting the filing requirement to once every three years instead of annually. Directors must now update personal information changes within 30 days. This change, based on stakeholder recommendations, aims to reduce compliance burden while maintaining anti-money laundering and counter-terrorist financing standards. The amendment reflects a risk-based regulatory approach.

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