Current · Source: Reserve Bank of India · RBI/2013-14/122 · issued 04 Jul 2013 · ~1 min read
Quick answerRBI has extended the deadline for NBFCs to assign a Unique Customer Identification Code (UCIC) to existing individual customers from June 2013 to March 31, 2014. New customers must still get UCIC at account opening.
The rule, in the simplest words
NBFCs (companies that give loans but are not banks) now have until March 31, 2014 to give a UCIC (a special ID number for each customer) to customers they already have.
New customers must get a UCIC right away when they open an account or start a relationship with the NBFC.
NBFCs must still follow all KYC (checking who the customer is) and AML (stopping money from crime) rules while giving UCICs.
NBFCs should use the extra time to fix their computer systems and customer records so every existing customer gets a UCIC by the new deadline.
How it plays out — a real example
An NBFC compliance officer in Indore, Priya, is updating her NBFC's customer files. She sees the RBI gave until March 2014 to assign UCICs to old customers, so she schedules a team to enter IDs for 500 existing borrowers over the next eight months, while still giving a UCIC to every new customer who walks in for a gold loan that day.
What changed
The earlier deadline of end-June 2013 for allotting UCIC to existing individual customers has been extended to March 31, 2014. The requirement to assign UCIC to all new customers at the time of onboarding remains unchanged.
What it means for you
NBFCs get additional time to complete UCIC assignment for their existing individual customer base, reducing immediate compliance pressure. However, the extension does not relax the KYC/AML/CFT framework; NBFCs must still ensure UCIC is issued for all new relationships without delay. Lenders should use this window to systematically update their systems and customer records.
What you must do
Ensure UCIC is allotted to all new individual customers at the time of onboarding, as per earlier instructions.
Complete UCIC assignment for all existing individual customers by March 31, 2014.
Review and update internal KYC/AML processes to align with UCIC requirements.
Maintain proper records of UCIC allotment for audit and regulatory reporting.
Who it affects
All deposit-taking NBFCs, All systemically important non-deposit taking NBFCs (NBFC-ND-SI) with assets of Rs 25 crore and above
❓ Common questions
What is the new deadline for assigning UCIC to existing customers?
The deadline has been extended from end-June 2013 to March 31, 2014.
Does this extension apply to new customers as well?
No. UCIC must still be allotted to all new customers at the time of entering into a new relationship.
Which NBFCs are covered by this circular?
All deposit-taking NBFCs and systemically important non-deposit taking NBFCs with assets of Rs 25 crore and above.
📜 Read the original circular — full text as issued by RBI
RBI/2013-14/122
DNBS(PD).CC.No.351/03.10.42/2013-14
July 4, 2013
All NBFCs-Deposit taking Companies/
NBFC-ND-SI with assets of Rs 25 cr and above
Dear Sir/Madam,
Know Your Customer (KYC) norms/Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT) - Unique Customer Identification Code for Banks Customers in India (UCIC)
Please refer to our circular DNBS.(PD).CC.No.325/03.10.42/2012-13 dated May 3, 2013 on the captioned subject, advising NBFCs to initiate steps for allotting UCIC to all their customers while entering into any new relationships for individual customers to begin with, and to existing individual customers by end-June 2013
2 The time for completing the process of allotting UCIC to existing customers is extended up to March 31, 2014. We, however, reiterate that UCIC should be allotted to all customers while entering into new relationships.
Yours faithfully,
(C.R.Samyuktha)
Chief General Manager
Reproduced for reference with acknowledgment — Source: Reserve Bank of India · RBI/2013-14/122 · issued 04 Jul 2013. The plain-English explanation above is BankPulse’s own independent summary.
Example: if you are a Compliance officer at a bank this circular applies to (All deposit-taking NBFCs, All systemically important non-deposit taking NBFCs (NBFC-ND-SI) with assets of Rs 25 crore and above), your first concrete step on “RBI extends UCIC deadline for NBFCs to March 2014” is: “Ensure UCIC is allotted to all new individual customers at the time of onboarding, as per earlier instructions.” (RBI issued this 04 Jul 2013).
Circular: RBI/2013-14/122 -- RBI extends UCIC deadline for NBFCs to March 2014
Issued: 04 Jul 2013
Action required: Ensure UCIC is allotted to all new individual customers at the time of onboarding, as per earlier instructions.
Action required: Complete UCIC assignment for all existing individual customers by March 31, 2014.
Action required: Review and update internal KYC/AML processes to align with UCIC requirements.
Action required: Maintain proper records of UCIC allotment for audit and regulatory reporting.
Owner: ____________ Target date: ____________
Board/committee approval needed? Y / N
Evidence filed in compliance register on: ____________
Built only from this circular’s own published fields — not legal advice; always confirm against the official RBI source.
💬 Banker Discussion
Discuss this circular with fellow bankers — reply, upvote what helps, report what doesn’t belong. Be professional; no client data. Views are the commenter’s own, not BankPulse’s.
BankPulse Compliance Evidence Pack — generated 03 Aug 2026 · status cross-checked against RBI’s official withdrawal register (refreshed weekly). Official RBI source: https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=8214&Mode=0 — Plain-English summary by BankPulse (bankpulse.ai), reviewed by our expert reviewer, CA Amit Jain. Independent platform, not affiliated with the Reserve Bank of India; is our own plain-English paraphrase, not RBI’s original wording.
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