What is cKYC and how to complete registration process?

Short Answer

cKYC is known as Central KYC, is a centralized registry for maintaining the KYC records of an individual digitally. The cKYC registry was launched July 2016, with an aim to reduce the level of documentation and KYC verification process involved in a financial transaction with different financial institutions including Banks, Insurance, NBFCs and Mutual Funds.

Detailed Answer

The cKYC eliminates the need for individuals to comply with KYC process with different financial institutions. The data stored in the central registry can be accessed by different financial institutions for the verification process on advance payment of fees to the CERSAI. CERSAI is the implementing agency of cKYC programme.

The cKYC process also includes the provision of Foreign Account Tax Compliance Act (FATCA) which enables the Indian Tax authorities to receive information from financial institutions. The whole KYC process is framed to prevent the money laundering through the system and bringing more people under the Tax net.

Benefits of cKYC

  • Eliminates duplication of KYC process at different financial institutions
  • Single point access for KYC needs for financial institutions
  • Real time access and notification of KYC update
  • Reduces time to complete a new financial transaction with pre-verified KYC process
  • It stores the data electronically and safeguards the KYC records centrally
  • Prevents unauthorised access and tampering with the data

How to check status online

To check the cKYC status of an individual online, one needs to visit the Karvy website and check the status with providing the PAN no. in the required field. The site will only provide the details on cKYC status whether he/she is registered or not and date of registration with the KRA.

The more comprehensive details of the individuals are provided to the financial institutions on their system on payment of fees.

Types of c-KYC

There are three types of accounts classified in cKYC:

Simplified or Low-risk account

Under this category, the account type is marked as "L" which means low-risk individual and are not able to provide the address proof in any of the 6 official documents which include Aadhar card, Voter ID, Passport, PAN, Driving License or Job card issued by MNREGA. They are given the option of submitting the proof through utility bills, not more than 2 months old( telephone, electricity bills), property tax receipts; saving bank account or post office savings account statements.

Small account

This account is marked as "S" and will apply to those individuals who don't possess any of the KYC documents. This account can be opened by providing an application with a self-attested photograph and thumb impression on it in the presence of the bank official. The account will be valid for 12 months and after will be extended after verifying that they have applied for the normal KYC. During this time the individual will have access to limited financial access from banks.

Normal Account

Those individuals who can establish their identity and submit proof of address in the 6 official documents including AADHAAR, Voter ID, Passport, PAN card Driving license, MNREGA Job Card falls under the category of Normal Account.

About the implementing Agency CERSAI

Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) is the implementing agency for the KYC programme of the government. In this institute, the Govt. of India holds 51 percent share and rest with different public sector banks and National Housing Bank.

The objective of the company is to maintain and operate registration system in India under various Acts of the govt. and looked upon as a risk mitigation tool for financial institutes operating within the country to prevent multiple financing against the same property.

How to complete cKYC Registration process

One can complete registration process of cKYC by filling the form and submit the same with supporting documents to your Bank, financial advisor, Mutual fund office or with a KRA.

In cKYC form, it has few additional column for Mother's name, Residential Status and Occupational details which are not present in other KYC forms

There is an additional column for Details of Related Person. The information is provided under certain circumstances like Guardian of Minor, Assignee (for Life insurance policy) and Authorized Representative ( NRI has to appoint a representative who will act on his/her behalf). If you don't fall under this category, then skip and move to another column.

You can always take assistance from your financial adviser/entity to complete the form if you face difficulty in furnishing any documents or information.

After successful completion of the cKYC process, you will be allocated 14 digit Identification no. for future reference which will be sent to your registered SMS and email id and no physical mail will be sent. And, if your application gets rejected same will also not be intimated to you but you can approach your KRA for the same.

If in the case, there is any update request by the customer for change in the information provided, then the financial institution will initiate the process of change in the information of the customer as existing in the records of Central KYC Registry.


cKYC is a very progressive initiative by Government and RBI in the direction to make a single registry for verification, where all the data can be stored digitally and can be accessed by large no. of financial entities without the fear of getting tampered or unverified data. In long term, it will help the country to build more transparent and strong financial institutions. And, for customers, it will result in less paper work, faster approval and reduced time to complete the transactions.

FAQs on cKYC

Do I need to have cKYC, if I have already registered in the eKYC process?

eKYC is a biometrically based registration process which is used only for online transaction and cannot be used for physical transaction and transactions involving higher amount. It is necessary to complete the cKYC process if you are in cKYC.

I have registered in KYC process earlier, Do I need to do again for the cKYC?

No, your electronic copy of KYC data will be transferred automatically to the cKYC registry

Do, I need to pay fees for the process?

No. you don't need to pay anything for the process. The system is maintained by the stakeholders who have access to the data of the registry.

Is there any different template for the Individual and Legal entity?

Yes, there are two different templates. One for individual and other for legal (Non-individual)

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