CKYC (Central Know Your Customer) is a central system in India that stores your KYC details, such as ID and address proof. This saves time and reduces the need for repeated paperwork by assigning a unique 14-digit number to every individual. Let's check CKYC, registration, CKYC number, features and many more.

Key Highlights:

• CKYC can be used across all RBI, SEBI, IRDAI, and PFRDA-regulated institutions.
• You can open accounts or invest in real time using CKYC. 
• CKYC enables real-time updates 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 is your CKYC number, 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 the government body 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 established the CKYC under the Prevention of Money Laundering Act, 2002, to curb illegal activities, including 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 speeds up the process for you and helps the government better track financial activities.

How to Register for CKYC

Registering CKYC is simple. Follow these below 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.

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'.

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)
• SEBI (Securities and Exchange Board of India)
• IRDAI (Insurance Regulatory and Development Authority of India)
• PFRDA (Pension Fund Regulatory and Development Authority)

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 resubmit all your documents.

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 in place.

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
• Mutual fund companies (AMC).
• Insurance companies.
• Stockbrokers.

How to Check Your CKYC Number

You can check your CKYC number online and offline via the official CKYC portal, by giving a missed call to 7799022129, or via DigiLocker, which usually requires your PAN and mobile number to fetch your details or card.

Online Methods:

• CKYC Portal: Visit the CKYC portal (ckycindia.in), use the "Fetch your CKYC card" or search feature, verify your mobile number, and enter details like your PAN.
• Netbanking: Log in to your bank or financial institution's app or website and look for 'Profile', 'CKYC Details', or 'E-KYC' options.
• DigiLocker App: Fetch your CKYC card directly through the app. 

Offline Methods:

• Missed Call: Give a missed call to 7799022129 to get a link to your CKYC card via SMS.
• Check Old Communications: Look for messages (SMS/email) or welcome kits from your bank or financial services that may mention the 14-digit CKYC number (KIN).
• Contact Your Bank: Visit a branch or call customer care, as they can retrieve your CKYC number after identity verification.

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 protected with strong security measures.
• Helps the government: CKYC reduces illegal financial activities.

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.