CKYC (Central Know Your Customer) is a system in India that creates a unique, centralized record for your identity and KYC (Know Your Customer) documents, eliminating the need to resubmit them repeatedly when opening new financial accounts (like bank accounts, insurance, or investments). Managed by CERSAI and Protean eGov Technologies, it streamlines onboarding, improves efficiency, and ensures regulatory compliance through a single, 14-digit KYC Identification Number (KIN).
CKYC stands for Central Know Your Customer. It's a unified KYC system that allows financial institutions to access and verify customer details through a central database, simplifying the onboarding and compliance process.
How to Get a CKYC Number Online
eKYC relies on digital authentication methods such as Aadhaar and biometrics for identity verification. CKYC involves the centralised storage and retrieval of KYC records of customers across financial institutions.
BKYC stands for Business Know your Customer and describes the customer verification process for business customers. Read more about our BKYC case study with Solarisbank. < Biometric check.
Is CKYC compulsory? Yes, CKYC is mandatory for individuals engaging with financial institutions in India.
Once you have opted for any financial product / service offered by these institutions, such as open a bank / credit card / demat account, buy an insurance policy or invest in mutual funds, etc., they will register your KYC with CKYC.
Their KYC information remains valid for a specific period (typically 10 years) unless there are any changes requiring an update. Businesses and financial institutions can leverage CKYC APIs to seamlessly integrate KYC verification into their existing workflows, further streamlining the customer onboarding process.
Know that the CKYC is a 14-digit unique number that is assigned to you and can be used for financial transactions and other related needs. CKYC has been made mandatory for all new customers of any of the financial companies that are regulated by RBI, IRDAI, SEBI, or PFRDA.
The Government of India vide their Notification dated November 26, 2015 authorised the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), set up under sub-section (1) of Section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security ...
What are the Documents Required for NRI KYC?
You can now access your CKYC details through the following modes:
Step 1: Download the KYC form from your bank's official website or collect it from your nearest branch. Step 2: Fill in the required details, including your Aadhaar, PAN, and personal information. Step 3: Visit your nearest branch of the bank.
KYC is mandatory for all registered banks and financial institutions (the latter has an extremely wide meaning).
The CKYC number can enable any participating financial institution to retrieve a verified copy of the customer's identity and address information without asking the customer to resubmit the same documents. Its benefits are as follows: Reduction in friction. Time saving.
CKYC is a mandatory compliance framework under Indian financial law.
Non-compliance can lead to severe consequences, such as heavy regulatory fines, business restrictions (e.g., loss of licenses), and reputational damage. Many financial institutions have faced penalties for weak KYC frameworks, underlining its critical importance.
a) Central KYC Records Registry application can be accessed by registered/authorised institutions or other notified institutions under the Prevention of Money Laundering Act or rules framed by the Government of India or any Regulator (RBI, SEBI, IRDA and PFRDA) thereunder.
KYC relies on traditional, manual verification methods, whereas eKYC harnesses digital technologies to enable rapid and paperless verification. CKYC, on the other hand, represents a centralized repository of customer information, streamlining data sharing and collaboration among financial institutions.
How do I check my CKYC number?
This error appears when there are discrepancies in your PAN, Aadhaar, email, or mobile number records in the Central KYC (CKYC) database. CKYC serves as the central repository for KYC information.
The KYC process is completed by filling out the CKYC form, available online. All you need to do is fill out basic information such as name, contact details and address. You must also provide identity and address verification with photographs.
Most banks and mutual fund platforms display the CKYC identifier on the customer profile page in mobile apps or internet banking. If you cannot find it online, the branch or customer-care team can retrieve your CKYC number after verifying your identity.
You can submit any of the following OVDs:
Yes, Aadhaar can be used for eKYC (electronic Know Your Customer) to open bank accounts, get SIM cards, and access financial services without submitting physical documents.