MFIN pushes PAN and CKYC adoption for lenders within 18 months
In short
At the BFSI Insight Summit, MFIN said lenders should use PAN and CKYC records within an 18-month target.
It says this should help check borrower identity and improve credit decisions. The report does not say if the plan is mandatory or how many lenders are already doing it.
What the reporting says
At the BFSI Insight Summit, industry body MFIN said it wants lenders to adopt PAN and CKYC records within an aspirational 18-month timeline. The publisher-supplied summary says the move is meant to strengthen borrower identification and credit underwriting. The reporting does not say whether lenders must comply, how many have already adopted the process, or what penalties or costs could follow.
Why it matters
At the BFSI Insight Summit, industry body MFIN said it is encouraging lenders to adopt PAN and CKYC records within an aspirational 18-month timeline. The aim is to strengthen borrower identification and credit underwriting. The report does not say whether this is mandatory, how many lenders are affected, or what implementation hurdles may arise.