KYC 2.0 Explained! One KYC for Life: How CKYCSimplifies Financial Services for You
Managing your finances shouldn’t feel like managing a mountain of paperwork. Whether you’re applying for a loan, investing in mutual funds, or opening a savings account, Know Your Customer (KYC) verification is essential. But what if you could do it once and use it everywhere?
Welcome to the future of compliance — CKYC (Central Know Your Customer), introduced by
the Government of India and regulated by RBI and CERSAI.
In this guide, we’ll walk you through:
● What is KYC and why it matters
● How eKYC digitizes onboarding
● Why CKYC is a game-changer for NBFC customers
● How to register for CKYC today
What is KYC?
KYC (Know Your Customer) is a process regulated under the Prevention of Money Laundering Act (PMLA), 2002, mandated by the Reserve Bank of India (RBI). It ensures that financial institutions like NBFCs (Non-Banking Financial Companies) verify customer identity and address before offering financial services.
Basic KYC documents include:
● PAN Card (mandatory for financial transactions)
● Aadhaar Card, Passport, Voter ID, or Driving License (for identity/address proof)
● A passport-size photograph
● Signature or biometric data
What is eKYC?
eKYC (Electronic KYC) is a paperless verification method that uses Aadhaar-based digital authentication. eKYC is approved by UIDAI and regulated by RBI, SEBI, and IRDAI, making it valid across banks, NBFCs, mutual funds, and insurance platforms.
Benefits of eKYC:
● Real-time identity verification using OTP or biometric
● Faster onboarding for loans and investments
● Reduced paperwork and in-person visits
What is CKYC?
CKYC (Central KYC) is a centralized, government-backed system managed by CERSAI (Central Registry of Securitisation and Asset Reconstruction and Security Interest of India). CERSAI is a Government of India company established to function as the Central KYC Records Registry (CKYCR). Once registered, customers receive a unique 14-digit CKYC Identifier, which can be used across all regulated financial entities. Introduced under the directive of the Ministry of Finance, CKYC has been made mandatory for many financial products under RBI and SEBI guidelines.
Benefits of CKYC for NBFC Customers
- One-Time Submission
Once you’re CKYC-verified, you don’t need to submit KYC documents repeatedly for every new
product—whether it’s a fixed deposit, mutual fund, loan, or insurance. - Speed and Convenience
With your CKYC number, NBFCs can instantly retrieve your verified details from CERSAI,
drastically reducing processing time. - Enhanced Security
CKYC ensures your personal data is encrypted and stored in a centralized RBI-regulated
database, reducing the risk of data leakage or duplication. - Seamless Access Across Institutions
Your CKYC is valid across all RBI, SEBI, IRDAI, and PFRDA-regulated entities, including:
● Banks
● NBFCs
● Mutual Fund Houses
● Insurance Companies
● Pension Fund Managers
- Reduced Compliance Risk
NBFCs benefit from smoother compliance checks and risk assessment using your updated and
verified CKYC profile.
How to Get Your CKYC Number To get your CKYC ID, follow these simple steps:
- Visit any RBI-registered financial institution, such as your NBFC, bank, or mutual
fund distributor. - Submit your KYC documents (PAN, Aadhaar, address proof, photograph).
- Your information is uploaded to the CKYC Registry (CERSAI).
- Receive your 14-digit CKYC Identifier, usually sent via email or SMS.
You can also check your CKYC status online at – www.ckycindia.in
Conclusion: Embrace a Smarter, Paperless Financial Future CKYC is more than just a regulatory requirement — it’s your gateway to faster, safer, and smarter financial access. Whether you’re an investor, borrower, or first-time saver, completing your CKYC helps you avoid duplication, delays, and document fatigue.
At Saumya Consultants Limited, we’re committed to guiding you through a fully compliant
and efficient CKYC onboarding experience.
Need Help with Your CKYC?
Learn more : www.ckycindia.in