Lenders offering retail loans and/or SME term loans will need to comply with these instructions by Oct 1, 2024

Comply with RBI’s new KFS rules with Leegality

Collect Borrower Acknowledgement: Use Leegality to collect RBI-complaint borrower acknowledgement digitally on the KFS
KFS flows in Local Language: Use Leegality Local Languages to deliver the entire eSign journey in a local Indian language - as per RBI rules
Auditable and Retrievable KFS: Ensure your digital KFS is stored automatically in your LOS/LMS along with secure audit trail

Lenders need to comply with 4 key requirements as per RBI’s new KFS instructions:


Lenders will need to change their KFS format to RBI’s new format under Annexure A


The KFS will need to be delivered in a “language that the borrower understands.” English won’t be enough


Lenders need to collect borrower acknowledgements on the KFS. These acknowledgements need to be secure and auditable. 
You can’t get the loan document signed unless you execute the KFS


The KFS is now the single source of truth for the loan. A KFS summary will now need to be inserted in the loan agreement.

Make your digital KFS journeys RBI compliant with Leegality


Digitally generate KFS as per RBI format

Create and save a local language template of your KFS on Leegality in less than a day
Pre-fill KFS fields straight from your LOS/LMS via API or Excel


Send KFS to borrower digitally

Ensure the borrower receives the KFS digitally in 4 ways:
Whatsapp (least drop offs)
In your website/app via our SDKs


Collect borrower acknowledgement and consent on the KFS

RBI requires an auditable borrower acknowledgement on the KFS. With Leegality you can do this in the following ways:
Aadhaar eSign via OTP, Biometric, Face or IRIS
Secure, OTP-based Virtual Sign
Quick OTP-less digital acknowledgement


Prevent fraud and bolster enforceability

Aadhaar Verifier to prevent borrowers from using someone else’s Aadhaar to eSign
Face Match to verify signer identity
Geo-location to ensure KFS is eSigned in the correct place
Multi-factor authentication for additional security


Customize the signer experience to avoid drop offs

Customize brand colour and logo throughout the eSign interface
Customize eSign invitation content and consent language
Deliver the entire KFS eSign interface in 11 Local Indian Languages


Easily manage KFS documents internally

Automatically affix authorized signatory signs via DocSigner or Automated Sign
Signed KFS automatically sent to your LOS/LMS
Get a Secure Audit Trail with each KFS

Want to read more about what the KFS requirements are?

Read our complete guide to the new RBI KFS requirements

Interested in seeing a live demo of digital KFS via Leegality?

Fill in this form
We’ll show you a live demo of digital KFS via Leegality
We’ll also give you a free testing account at the end of the demo
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