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Learn what CKYC is, how the process works, and the benefits of Central KYC in India. Simplify your financial documentation with one-time KYC.
Have you heard of CKYC? Central Know Your Customer, or CKYC, aims to centralise and replace the traditional KYC process. Let us deep dive into all you need to know about CKYC.
CKYC, or Central Know Your Customer, is a 14-digit number connected to your ID that allows simple access to all identifying documents.
It is a central repository for customer information. It's like a safe digital vault for your identity and personal data.
So, whether you want to open an account or invest, you won't have to submit your KYC every time.
Instead, banking institutions can access your CKYC information directly, making the procedure faster and more convenient for you.
The CKYC process is administered by India's Central Registry of Securitisation, Asset Reconstruction, and Security Interests (CERSAI).
It serves as a single entry point for financial institutions to check consumer information, minimising the need for repetitive documentation and verification.
You can register your KYC details with CKYC if your financial institution is registered by SEBI, RBI, IRDAI, or PFRDA.
Banks, insurance companies, Demat accounts, and mutual fund investment platforms all use CKYC to record customer knowledge information when you open an account with them.
Mentioned below are the steps for fulfilling your CKYC process:
You can check your CKYC number with several financial services companies by following these steps:
Find the list of all the documents necessary for registering your CKYC:
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Yes, CKYC is compulsory for all registered financial institutions to prevent money laundering and ensure compliance with the regulatory terms.
Once your CKYC process is completed, you will be assigned a 14-digit CKYC number. Financial institutions use this number to retrieve your KYC information from a common repository, which streamlines your interactions and transactions.
Yes, you can complete your CKYC process online through registered financial institutions.
You can download your CKYC report online on the Karvy KRA's official website.