Central Know Your Customer (CKYC) (NEW)

CKYC refers to central KYC (Know Your Customer), a new initiative by Government of India. The aim of this initiative is to have a structure in place which allows investors to do their KYC only once before interacting with various entities across the financial sector. CKYC will be managed by CERSAI (Central Registry of Securitization Asset Reconstruction and Security Interest of India), authorized by Government of India to function as Central KYC Registry (CKYCR). The objective of CKYCR is to reduce the burden of producing KYC documents and getting those verified every time when the investor enters into a new relationship with a financial entity. Thus, CKYCR will act as centralized repository of KYC records of investors in the financial sector with uniform KYC norms and inter-usability of the KYC records across the sector. 

Central Registry of Securitization Asset Reconstruction and Security Interest (CERSAI) is a central online security interest registry of India authorized by Government of India to act as and to perform the functions of the Central KYC Records Registry under the PMLA (Prevention of Money-Laundering) rules 2005, including receiving storing, safeguarding and retrieving the KYC records in the digital form for a client.

You may submit the CKYC form at any of our branches or you may choose to complete your KYC formalities online using the facility provided on our website. 

No. CKYC requires additional information (for e.g. investor's maiden name, mother's name etc) to be collected and submitted to CERSAI for completion of the CKYC formalities of an investor.
 

KYC Identification Number (KIN) is a 14 digit number allotted by CERSAI to an investor who has completed his / her CKYC formalities. This number should be mentioned each time the CKYC details are required to be accessed by any intermediary. 
 

CKYC compliance is applicable for investments received from February 1, 2017 onwards. You need to note the following: 

• New investors (investors who are not KYC compliant) will have to mandatorily submit the CKYC form along with the investment application. If the investor has filled the old KYC form in lieu of CKYC form, he will have to submit additionally the Supplementary CKYC form along with the old KYC form.

 

• Existing investors (investors who are KYC compliant) can continue making investments without any change in the current process. 

No. Currently, CKYC is applicable only to Individuals (both Resident Individuals and Non-Resident Individuals (NRIs)). 
 

a) Investors who have a valid Permanent Account Number (PAN) need to provide the same for CKYC compliance. 
b) Investors, who do not have a PAN, need to submit alternate documents (refer CKYC form for details). However, such category of investors can invest (including SIPs) upto Rs. 50,000 only per Mutual Fund in a rolling 12 month period or in a financial year i.e. April to March. 
c) Investors exempt from submission of a PAN:
i) Transactions undertaken on behalf of Central/State Government, by officials appointed by Courts, e.g., Official liquidator, Court receiver, etc.
ii) Investors residing in the state of Sikkim. 
 

You need to submit the following documents: 
a) Duly filled and signed CYC / Old KYC form + Supplementary CKYC form 
b) One proof of Identity (self-attested copy) 
c) One proof of Address (self-attested copy) 
d) One photograph incase of CKYC form. 
 

You need to submit both proofs of identity as well as address. 
For identity proof, you may submit any one document - PAN/ passport / voter ID/ driving license / Aadhaar card / NREGA job card / any other document notified by central government. 
For address proof, you may use the same proofs as submitted as identity proof (except the PAN, since that does not specify the address). If your permanent address is different from the correspondence address, then you need to submit proof for both the addresses. 
Copies of all documents that are submitted need to be compulsorily self-attested by the applicant and accompanied by originals for verification. In case the original of any document is not produced for verification, then the copies should be properly attested by entities authorized for attesting the documents. For more details, please refer to the "instructions / guidelines" over-leaf on CKYC / Supplementary CKYC form. 
 

Yes, the date of birth is mandatory information required for processing of your CKYC application. 
 

 KIN is being allotted by CERSAI to investors whose CKYC application is found to be valid. An SMS / email will be sent by CERSAI to the registered mobile number of the investor as soon as the KIN is generated at their end. 
 

Upon generation of a KIN, CERSAI as a process will communicate the same vide SMS / email provided on the CKYC form. In the absence of both the details, no communication will be sent by CERSAI. Such an investor needs to contact the entity who had processed the CKYC form. You need to provide the details of the supporting documents (for e.g. if PAN copy was submitted as identity proof, then you would need to provide the PAN) that was submitted to the said entity. It is advisable that you provide an email ID / mobile number on the CKYC form so that you do not miss out on any important communication sent by CERSAI to investors. 
 

A sample copy of the SMS that would be received by you from CERSAI is reproduced below for your reference. 
 

If the CKYC application is not processed / rejected for some reason, no intimation will get sent to the customer from CERSAI. The entity processing your CKYC application shall be aware of such rejections and can approach in case of any queries.
 

CERSAI will verify the details as against the supporting documents submitted by investor. However, the onus of doing the CKYC of a customer properly and correctly lies with the entity doing the CKYC. 
 

Currently, such an option is not available. If the investor is allotted the KIN, it is confirmation that the investor is CKYC compliant. 
 

 Investors who are already allotted a KIN are considered as CKYC compliant. Such investors do not need to submit any more documents for CKYC compliance. However, please ensure to keep the KIN details readily available as it needs to be mentioned on the application form at the time of investing. 
 

The KIN will be allotted by CERSAI within 2 - 3 working days. 
 

Yes, we will be able to accept the same provided you have mentioned PAN details on the CKYC form submitted earlier.
For more information, you may contact your distributor, if any, or visit our Investor Service Centers (ISCs).