Follow us on:

Central KYC Registry in India

  • KYC Registration is Mandatory for NBFC
  • Application Central KYC REGISTRY
  • Easy & Fast Process of Central KYC Registry

Request a call back

What does Central KYC mean?

It is a centralized repository which is responsible for maintaining the record of customer’s KYC. It applies uniform KYC standards and the inter-usability of KYC records to the different sectors involved. Curtailing the burden related to providing customer documents and verifying such documents over and over and each and every time a customer builds relationship with a financial entity is the core motive of the CKYC. Central KYC norms are regulated and managed by the “The CERSAI (The Central Registry of Securitization and Asset Reconstruction and Security Interest)”.

In India, Central KYC is taking over rapidly and an individual needing central KYC may approach financial institutions controlled by their respective authorities, i.e. RBI, SEBI, IRDA and PFRDA are responsible for the same. KYC can also be used with the bank, the insurance company, the mutual fund company and the stockbroker.

What are the Characteristics of Central KYC?

Below mentioned are the salient features of the CKYC or Central KYC:

  • Single KYC is ensured by the Central KYC across all financial products.
  • While obtaining the information of the customer i.e. the identity and the address, proper care must be ensured.
  • Fraudulent / malfunction activities i.e. Money Laundering gets reduced by the CKYC
  • CKYC also helps in reduction the double submission of the KYC documents to the financial institutions
  • It makes it easier for KYC to search download edit, upgrade, etc.
  • KYC Data is stored in an electronically protected electronic format, so that it is easy to use.
  • It also offers an efficient and reliable network entry encryption method to clients.
  • It significantly reduces costs by eliminating multiple data licenses and managing them accordingly.
  • In the case of CKYC, real-time notice is sent to all the organizations concerned when any of the specifics is updated.

What is Central KYC Records Registry?

In order to protect the customer’s KYC records in electronic form, Central KYC Records Registry came into existence which is a reporting entity and is owned, controlled, managed and authorized by the Central Government through official notification in the official gazette. It involves collecting, processing and deleting customer KYC documents.

Who all are eligible to access the CKYC Applications?

CKYC Applications is accessed by the Authorized institution or is any other notified institution under the Prevention of Money Laundering Act or other rules provided by the Government of India or any other regulators. These regulators include SEBI, RBI, IRDA and PFRDA.

Process for Financial Institutions to Register with Central KYC Registry

CKYC forms - AMC or KRA website or registrar provides the Central KYC form.

Below mentioned are the steps for FIs to register with CKYC;

  • You need to visit the official website of CKYC
  • Click on to resister a new FI registration
  • Admins details are required to enter
  • After that financial institution information are required to enter
  • Disclosing thedetails regarding to the regulating body you are registered with
  • Atleast 2 digital signatures (DSCs) are compulsory in order to start the operations
  • Relevant documents along with the Financial Institution registration form and submit it along with the required documents
  • Upon submission of the registration form the system generates a temporary reference number and sends it to the nodal officer
  • Then you need to test all the functionalities as per the prescribed checklist
  • CERSAI will then verify your application and approve it if details are correct

Note- In case of discrepancies the CERSAI will put your application on hold and inform you via e-mail

Documents required for Central KYC Registration of FIs

Following documents are required while obtaining the registration with CKYC:

  • Signed Institution Registration Form of the FI
  • Regulator’s issued License, Certificate, Notification
  • Financial Entity’s PAN card
  • Corporate Identification Number is required in case when the Institution holds multiple Licenses
  • You need to submit Certificate of Registration issued by the concerned authority in the case of Co-operative Banks or Societies.
  • Authorized Signatory/Director should sign the Authorization letter from competent authority for Admin Users
  • Certified copy of any ID proof of the user administrator
  • Certified copy of the photo identity card of the user administrator granted by the respective institution

Note- It is tested and registered within 2 weeks once the required documents are submitted/uploaded on the Central KYC servers. An applicant investor can start his investment immediately. Central KYC not only saves the physical documents to be submitted but also protects the investor from any hassle.

Steps Involved in the Central KYC for Individuals

The procedure to register on CKYC is as follows:

  • Visit the site https://www.ckycindia.in/ckyc/index.php
  • Once you enter your PAN, the system verifies if it is a valid PAN or not.
  • If your KYC is already done, it will remind you if you wish to modify your KYC details.
  • You can modify by pressing the continue button
  • Then you need to enter your Name, Mobile Number, Email and Aadhar (UID) Number
  • Tick the checkbox to accept and then click on submit to receive communication from the AMC,
  • Then add more personal details required for Central KYCon the next page.
  • Self-certified copies of the PAN card and the Aadhar cardto be attached.
  • Add the photo by clicking through the camera
  • Sign on a plain piece of paper for uploading the signature and show it to the device camera and the camera will capture it
  • In-person verification via a live video recording through your device camera
  • Finally, you need to provide a confirmation, that all the information provided and submitted is true and best to your knowledge

Documents required for submission for CKYC Registration for Individuals:  

  • Identity Proof such as Passport, Voter Id card, PAN card, Driving License and other document informed by the Central government.
  • Original documents of Address Proof such as Aadhar Card, Passport, and Voter Id card, PAN card, Driving License along with the copies at the time of submitting it for verification.
  • The documents should be self-attested along with the photograph
  • Contact information
  • Signature on the plain paper
  • Web Camera with a trouble free internet connection
  • Information of the related person like Guardian of Minor, Authorized representative.

Note - If proof of identity does not include the address, or the address is invalid, then only proof of address is needed as a further document.

Annexure is required to be submitted along with the Central KYC registry form in case in which the Applicant investor has more than one correspondence addresses.

FATCA Declaration - The investor needs to submit a declaration to provide a declaration related to the Foreign Account Tax Compliance Act. FATCA declaration is done to protect people from tax evasion.

A unique KIN (KYC Identification number) is generated and informed to the applicant via SMS/email once the investor submits the form and the data provided is verified

Govind

Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.

Govind

Delhi

Niketan123

Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.

Niketan123

Delhi

Our Cients

  • Sahara
  • hpmi
  • ginkgo
  • sahara shop
  • transpole
  • honda
  • sharda
  • homestead
  • halcrow
  • travel unravel
  • sbi
  • veolia
  • syndicate
  • cibersons
  • freshmens

Free consultation of all services at just Rs. 1