CKYC India – How to Complete Central KYC & Check CKYC Number

CKYC (Central Know Your Customer) is a central system in India that stores your KYC details like ID and address proof. This saves time and reduces the need for repeated paperwork by assigning a unique 14-digit number to every individual.

In this guide, we’ll explain CKYC, how to complete it, and how to check your CKYC number. Whether you’re new to finance or have limited literacy, this article is for you.

Key Highlights:

• One-Time KYC: Complete your KYC once and use the same verification across all RBI, SEBI, IRDAI, and PFRDA-regulated institutions.
• A unique 14-digit KYC Identification Number (KIN) that is accepted by banks, NBFCs, mutual funds, and insurance companies.
• CKYC stores verified data digitally, ensuring easy access, reduced paperwork, and fraud prevention.
• CKYC enables real-time updates, maintains data accuracy, and ensures uniform KYC compliance across the financial sector.

What is CKYC? 

CKYC stands for Central Know Your Customer. It’s like a single ID card for all your financial needs in India. Imagine having a single number that stores all your personal details (such as name, address, and ID proofs) in a secure, government-managed system. This number is referred to as your CKYC number, and it’s a 14-digit unique code.

With CKYC, you don’t need to submit documents like your PAN card or Aadhaar card every time you deal with a bank, insurance company, or mutual fund. Once your CKYC is done, you can use this number to start new financial services quickly. It saves time, reduces paperwork, and makes life easier!

For Example:

• Opening a new bank account? Just share your CKYC number.
• Buying a mutual fund? No need to submit documents again.
• Getting insurance? Your CKYC number does the job.

CKYC is managed by a government body called CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest). They keep your information safe and share it with banks or companies only when needed.

Why Was CKYC Started?

The Indian government created CKYC under the Prevention of Money Laundering Act, 2002, to stop illegal activities like black money. Before CKYC, people had to submit KYC documents for every new financial service, a process that was time-consuming. CKYC solves this by creating a single KYC system for all financial companies, such as:

• Banks
• Insurance companies
• Mutual fund companies
• Non-Banking Financial Companies (NBFCs)

This makes the process faster for you and helps the government track financial activities better.

Who Can Register You for CKYC?

Only certain financial companies can register you for CKYC. These are companies approved by government regulators like

• RBI (Reserve Bank of India) – for banks
• SEBI (Securities and Exchange Board of India) – for mutual funds and the stock market
• IRDAI (Insurance Regulatory and Development Authority of India) – for insurance
• PFRDA (Pension Fund Regulatory and Development Authority) – for pension schemes

Background of CKYC

Section 73 of the Prevention of Money Laundering Act, 2002, empowers the central government to formulate various rules and regulations to curb black money. With this authority, the Central Government introduced CKYC to ensure a single KYC for individuals looking to buy or invest in financial instruments. The Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI) is the governing body that manages the CKYC registry.

How Does CKYC Work?

Let’s say you want to invest in a mutual fund. Here’s how CKYC helps:

• You visit a mutual fund company or bank.
• They ask you to fill out a KYC form and submit documents (like PAN and Aadhaar).
• The company sends your details to CERSAI.
• CERSAI verifies your documents and gives you a 14-digit CKYC number.
• Next time you want to invest in another mutual fund or open a bank account, you just share your CKYC number. No need to submit documents again!

This makes investing in or starting a financial services business extremely easy.

Key Features of CKYC

Here’s why CKYC is so helpful:

• One 14-digit number: Your CKYC number is linked to your ID proofs (like Aadhaar or PAN).
• Safe storage: Your details are stored securely in a digital system.
• Verified documents: The bank or company checks your documents with the original issuer (e.g., UIDAI for Aadhaar).
• Automatic updates: If you update your address or phone number, all companies using CKYC are informed.
• Works everywhere: Use the same CKYC number for banks, mutual funds, insurance, and other financial services.
• Fast process: Open accounts or invest in real-time using CKYC.
• Secure access: Only authorised companies can access your details with strong security measures.

Which Institutions can Register Customers for CKYC?

Financial institutions regulated by SEBI, RBI, IRDAI, and PFRDA can register your KYC details with CKYC. When you open a bank account, a Demat account, purchase insurance, or invest in mutual funds, these financial institutions will register your KYC details with CKYC.

Places Where You Can Get CKYC Done

• Banks (like SBI, HDFC, or ICICI).
• Mutual fund companies.
• Insurance companies (like LIC or Bajaj Allianz).
• Stockbrokers or Demat account providers.

How to Complete the CKYC Process

Completing CKYC is simple. Follow these steps:

Visit a CKYC-approved place:

• Go to a bank, mutual fund office, insurance company, or any financial institution that supports CKYC.
• Example: Your local bank branch or a financial advisor.

Submit your documents:

• You need to give some basic documents (see the list below).
• Carry originals and photocopies for verification.

Get verified:

• The company will check your documents with the issuer (e.g., they’ll verify your Aadhaar with UIDAI).
• This ensures your details are correct.

Receive your CKYC number:

• Once verified, CERSAI will issue you a 14-digit CKYC number.
• This number is sent to you through the bank or company, usually via email, SMS, or a letter.

Note: The process is usually free, but some companies might charge a small fee. Ask beforehand to confirm.

Documents Needed for CKYC

You need the following to complete CKYC:

Proof of Identity (POI): Any one of these:

• PAN card
• Aadhaar card
• Voter ID
• Passport
• Driving License
• NREGA Job Card

Proof of Address (POA): Any one of these:

• Aadhaar card
• Passport
• Voter ID
• Driving License
• Utility bill (electricity, water, or gas bill – not older than 3 months)
• Bank statement (not older than 3 months)
• Rent agreement (registered)
• Passport-size photograph: One recent photo.
• Signature: You may need to sign the KYC form.

Tip: Always carry originals and photocopies. The company will verify originals and keep copies.

Types of CKYC Accounts

There are four types of CKYC accounts, depending on the documents you submit:

Normal Account:

• Created when you submit one of the six main IDs (PAN, Aadhaar, Voter ID, Passport, Driving License, or NREGA Job Card).
• Most common type.

Simplified Measures Account:

• Created with other valid documents allowed by RBI (e.g., government-issued certificates).
• CKYC number starts with ‘L’.

Small Account:

• Created with just your personal details and a photo (no ID proof).
• CKYC number starts with ‘S’.
• Limited to small transactions.

OTP-Based eKYC Account:

• Created using an Aadhaar PDF file (downloaded from UIDAI) and an OTP sent to your phone.
• CKYC number starts with ‘O”.

Most people opt for a Normal Account, as it’s the easiest and most flexible option.

How to Check Your CKYC Number

If you’ve already done CKYC but don’t know your number, you can check it online. Here’s how

• Visit an authorised website:
  • Go to the Karvy website.
  • Other platforms like CAMS or NSDL may also offer this service (check their websites).
• Enter your PAN number:
  • Type your PAN number in the provided box.
• Enter the security code (CAPTCHA):
  • Type the code shown on the screen to prove you’re not a robot.
• See your CKYC number:
  • Your CKYC number and personal details will appear.
  • You can download a CKYC report if needed.

Note: If you don’t have internet access, visit your bank or mutual fund office. They can check your CKYC number for you.

Is CKYC Mandatory?

Yes, CKYC is mandatory for all new customers of financial companies regulated by RBI, SEBI, IRDAI, or PFRDA. This includes:

• Opening a bank account
• Investing in mutual funds
• Buying insurance
• Opening a Demat account for stocks

If you’re an existing mutual fund investor, you may not yet need to complete the CKYC. But if you invest with a new mutual fund company, you’ll need to complete CKYC.

In the future, all investors may need to undergo CKYC, so it’s best to do it now.

Benefits of CKYC

CKYC makes your financial life easier. Here’s how:

• No repeated paperwork: Submit documents only once.
• Saves time: Start new financial services quickly with your CKYC number.
• Works across companies: Use the same number for banks, insurance, mutual funds, and other financial services.
• Easy updates: Change your address or phone number once, and all companies are updated.
• Secure: Your details are stored safely with strong protection.
• Helps the government: CKYC reduces illegal financial activities.

List of All POA Documents:

• Besides Aadhaar and Passport, you can use utility bills (electricity, water), bank statements, or registered rent agreements as Proof of Address.

Online CKYC Option:

• Some platforms may allow you to initiate the CKYC process online (e.g., through CERSAI or mutual fund websites). Please check with your bank or CERSAI for the latest updates.

How Long Does It Take:

• Obtaining a CKYC number typically takes 3-7 days after document verification, although this timeframe may vary depending on the company and CERSAI.

Updating CKYC Details:

• To update your address, phone number, or other details, please visit your bank or mutual fund office. They’ll send the changes to CERSAI. Some platforms may soon allow online updates.

Is It Free?:

• CKYC is usually free, but some companies may charge a small fee (e.g., ₹50-100). Always ask before starting.

CKYC for NRIs and Minors:

• NRIs: Need a passport, OCI/PIO card, or foreign address proof.
• Minors: Need a guardian’s documents and the minor’s birth certificate or Aadhaar.

Other Platforms to Check CKYC:

• Besides Karvy and CDSL, consider CAMS and NSDL. CERSAI may also offer a direct check option in the near future.

What If There’s an Error?:

• If your CKYC details are wrong (e.g., incorrect name), contact the bank or company that registered you. You can also contact CERSAI at their help desk.

CKYC and Other KYC Systems:

• CKYC works alongside KYC Registration Agencies (KRAs) used for mutual funds. In the future, CKYC may replace KRAs for a single system.

Future Rules:

• Existing mutual fund investors may need to complete the CKYC process later. Stay updated via your bank or mutual fund company.

Offline CKYC Check:

• If you don’t have internet, visit a bank or mutual fund office to check your CKYC number.

Joint Accounts:

• For joint accounts, each person needs their own CKYC number.

Tips for a Smooth CKYC Experience

• Carry all documents: Always have originals and photocopies ready.
• Double-check details: Ensure that your name, address, and other information are accurate in the KYC form.
• Save your CKYC number: Write it down or store it safely in your phone/email.
• Ask for help: If you’re confused, ask your bank or mutual fund agent to explain in simple language.
• Check updates: Visit www.cersai.org.in for the latest CKYC news.

Conclusion

Central KYC (CKYC) is a game-changer for anyone dealing with banks, mutual funds, or insurance in India. With just one 14-digit number, you can avoid repetitive paperwork and start financial services quickly. Whether you’re opening a bank account, investing in mutual funds, or buying insurance, CKYC makes the process simple and secure.