Central KYC Registry - An Overview

The Central KYC Registry, commonly known as CKYC, is a centralized system created to store and manage KYC records of customers in a digital format. It promotes uniform KYC standards and enables the inter-usability of KYC records across different financial sectors. CKYC was introduced to reduce the repeated submission of KYC documents whenever a customer starts a relationship with a bank, insurance company, mutual fund, stockbroker or other regulated financial institution. The Central KYC Registry is managed by CERSAI.

In India, CKYC is increasingly being adopted by regulated financial institutions. Individuals and entities can complete CKYC through institutions regulated by authorities such as RBI, SEBI, IRDAI and PFRDA. This includes banks, insurance companies, mutual fund houses, stockbrokers and other notified financial institutions.

What are the Salient Features of Central KYC Registry?

The Central KYC Registry offers several important features that simplify customer verification and improve compliance across financial institutions:

What is Central KYC Records Registry?

The Central KYC Records Registry is an authorized entity notified by the Central Government for receiving, storing, safeguarding and retrieving KYC records in digital form. It acts as a central repository for customer KYC information and allows authorized reporting entities to access customer records for verification and compliance purposes.

Who can access the Central KYC Registry?

Access to the Central KYC Registry is available only to authorized reporting entities and notified institutions under the Prevention of Money Laundering Act and applicable rules. These institutions are generally regulated by authorities such as RBI, SEBI, IRDAI and PFRDA.

Process for Financial Institutions to Register with Central KYC Registry

Financial institutions that wish to access and use the Central KYC Registry must complete the registration process through the official CKYC portal. The institution is required to submit its details, regulator information, authorized signatory details and supporting documents. The general process is as follows:

• Visit the official CKYC portal.
• Select the option for new financial institution registration.
• Enter the details of the admin user who will manage portal-related activities.
• Provide complete details of the financial institution.
• Submit information about the regulator with which the institution is registered.
• Ensure availability of at least two valid digital signatures for operational access.
• Download the completed FI registration form.
• Submit the signed registration form along with the required supporting documents.
• After submission, a temporary reference number is generated and sent to the nodal officer.
• Complete functionality testing as per the prescribed checklist.
• CERSAI reviews and verifies the application.
• Upon successful verification, the registration is approved and access is granted.

Documents Required for Central KYC Registry Registration for Financial Institutions

Financial institutions are required to submit specific documents for completing CKYC registration. The key documents generally required are listed below:

• Duly signed financial institution registration form
• License, certificate or notification issued by the concerned regulator
• PAN card of the financial entity
• Corporate Identification Number, if applicable
• Registration certificate issued by the concerned authority in case of co-operative banks, societies or similar institutions
• Authorization letter issued by the competent authority for admin users, duly signed by the authorized signatory or director
• Certified copy of the photo identity card of the user administrator issued by the respective institution
• Certified copy of valid identity proof of the user administrator

Procedure for Central KYC Registry Registration for Individuals

Individuals can complete CKYC registration through an authorized financial institution or applicable online process. The general procedure is as follows:

• Visit the CKYC portal or approach an authorized financial institution.
• Enter the required details, including PAN, to check whether KYC verification already exists.
• If KYC is already verified, the system may provide an option to update or modify existing KYC details.
• Proceed with the modification or new registration process, as applicable.
• Enter personal details such as name, mobile number, email address and Aadhaar number, where required.
• Provide consent for receiving communication from the concerned institution or AMC, if applicable.
• Fill in additional personal, financial and identification details required for CKYC.
• Upload self-attested copies of PAN card, Aadhaar card or other valid documents, as applicable.
• Upload or capture a recent photograph.
• Provide signature on plain paper and upload or capture it as required.
• Complete in-person verification or video-based verification, where applicable.
• Review all submitted details carefully.
• Submit the declaration confirming that the information provided is true and correct to the best of your knowledge.

Documents Required for CKYC Registration for Individuals

Individuals are generally required to submit identity, address and personal verification documents for CKYC registration. The commonly required documents are listed below:

• Proof of identity such as passport, voter ID card, PAN card, driving license or any other officially valid document notified by the Central Government
• Proof of address such as Aadhaar card, passport, voter ID card, driving license or any other acceptable address proof
• Self-attested copies of required documents
• Recent photograph of the applicant
• Signature on plain paper
• Valid mobile number and email address
• Web camera and stable internet connection, if video verification is required
• Details of related person, such as guardian of a minor or authorized representative, where applicable