MCA replaces Annual KYC requirements under the Companies Act, 2013 with abridged KYC requirements once in three years

• Ministry of Corporate Affairs (MCA) has amended Rule 12A of the Companies (Appointment & Qualification of Directors) Rules, 2014 to replace the annual KYC filing by directors with a simpler KYC intimation once every three years.
• Reform stems from recommendation of the High Level Committee on Non-Financial Regulatory Reforms (HLC-NFRR) and stakeholder consultations.
• Relevant to UPSC GS-II (governance, regulatory reform) and GS-III (ease of doing business, compliance burden reduction).