No new KYC disclosure norm for jewellery purchase, only valid for high value cash purchases

Requirement for KYC for purchases above Rs 10 lakh are part of India's commitments to the ​Financial Action Task Force (FATF), of which it has been a member since 2010.

from Wealth-Economic Times https://economictimes.indiatimes.com/wealth/personal-finance-news/cash-purchase-of-jewellery-above-rs-10-lakh-will-need-kyc-says-government-note/articleshow/80183048.cms