RBI Ends Repeated KYC Update: One CKYC for Multiple Banks
Central Know Your Customer (CKYC) is a centralized KYC system under which every customer is assigned a unique 14-digit identification number. This information is securely stored in the Central KYC Records Registry (CKYCR).
Bank customers will no longer have to deal with repeated requests to update their Know Your Customer (KYC) details or submit the same documents to multiple banks. No More Repeated KYC at Banks: One CKYC Number for All Banks.
To curb fraud related to KYC updates and simplify the verification process, the Reserve Bank of India (RBI) has introduced a major customer-friendly measure. According to the RBI, if you have a 14-digit Central KYC (CKYC) number, you will not be required to submit KYC documents separately to every bank or financial institution.
Whether you are opening a new bank account, making an investment, or applying for any financial product, your CKYC number will serve as a single KYC reference. You will only need to update your CKYC profile if there is a change in your personal details, such as your address, mobile number, or email ID.
What is CKYC?
CKYC (Central Know Your Customer) is a centralized KYC system under which every customer is assigned a unique 14-digit identification number. This information is securely stored in the Central KYC Records Registry (CKYCR).
If your mobile number, email address, or residential address changes in the future, you do not have to visit each bank separately to update your records. Updating your details once in your CKYC profile will automatically reflect across all linked banks and financial institutions.
Benefits of CKYC:
Saves Time: Customers no longer need to repeatedly submit photocopies of documents, fill out KYC forms, or undergo physical verification at different banks.
Faster Processing: Banks and financial institutions can directly access your verified digital KYC records, making account opening, loan approvals, and other financial services much quicker.
Enhanced Security: Your KYC documents are securely stored in a centralized digital repository, reducing the risk of document misuse and fraud.
How to Get Your CKYC Number:
The RBI has stated that customers can easily obtain their CKYC number through any of the following methods:
Contact Your Bank: Visit the branch where you maintain your account and request your CKYC number.
Missed Call Service: Give a missed call to 7799022129 from your registered mobile number to receive your CKYC number.
Online Portal: Visit the official CKYC website, https://ckycindia.in, to check or retrieve your CKYC number.
