The Reserve Bank of India (RBI) and many banks across the country are sending messages related to CKYC to their customers. These messages are arriving on WhatsApp. Some people are also receiving these messages as regular text messages. If you have received a message from the RBI or your bank regarding CKYC, it’s important to first understand why it matters and what the benefits are.
What is a CKYC number?
CKYC stands for Central Know Your Customer or Central KYC. CKYC is a centralised system that generates a unique 14-digit number that is generated only once and can be used anywhere in the country. Under this system, once your KYC details are verified, they are securely stored in a database, and a unique 14-digit CKYC number is assigned. This CKYC number is linked to your KYC records.
Why is CKYC necessary?
It’s a one-time, centralised KYC process introduced by the Government of India to simplify financial transactions. Like KYC, CKYC’s primary purpose is to prevent financial fraud and money laundering. It’s essential for keeping your financial records secure.
What are the benefits of CKYC?
CKYC is a one-time process that eliminates the need to repeatedly complete KYC at different banks. Having a CKYC number eliminates the need to repeatedly visit different banks or financial institutions to collect documents and then submit them to the bank. This saves time and eliminates the need to rush around for documents.
Apart from this, when you want to open a new account in a bank or update the KYC details of an existing account, there is no need to collect and submit different documents, and just providing the 14-digit CKYC number can get the job done.
How to get CKYC number
- You can contact your bank to get the CKYC number.
- You can also get the CKYC number by calling 7799022129.
- You can also get the CKYC number by visiting https://ckycindia.in.
What documents are required for CKYC?
- Proof of Identity: Aadhaar Card, PAN Card, Passport or Driving License. Earlier, the fees for the Aadhaar PVC card were increased.
- Address Proof: Electricity bill, water bill, landline bill, broadband bill, rent agreement or any government document containing your address.
- Photograph: Recent passport-size photograph.
How to check CKYC status online
- Visit the CKYC portal https://ckycindia.in.
- Enter your PAN or CKYC number.
- Check your status and make sure your information is up to date.
What is the difference between KYC and CKYC?
KYC is a verification process conducted by a specific bank or financial company and cannot be used at other banks or financial companies. CKYC, on the other hand, is a centralised system that can be used at any bank or financial company in the country.
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