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FAQ on CKYC

 

Central KYC Registry is a centralized repository of KYC records of customers in the financial sector with uniform KYC norms and inter-usability of the KYC records across the sector with an objective to reduce the burden of producing KYC documents and getting those verified every time when the customer creates a new relationship with a financial entity.

GOI has authorized Central Registry of Securitization and Asset Reconstruction and Security interest of India (CERSAI) to perform the function of CKYC Records Registry under PMLA rules’ 2005.

CKYC broadens the horizon for the KYC compliance status and will help avoid KYC registrations with different financial institutions which are under the governance and supervision of different regulators.

In Person Verification (IPV) is not specifically mandated under CKYC. However, as the same is required for MF investment, it can be carried out by the AMC employee / distributor before submission of the form to nearest AMC / RTAs office.


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