Definition
CKYC
Central KYC is a centralised registry that stores a customer's verified KYC records under a unique number, so the same documents need not be submitted to every institution.
CKYC, managed by CERSAI, assigns each customer a unique CKYC Identifier after their KYC is verified once. Other regulated institutions can then retrieve those records (with consent) instead of repeating the full process.
It reduces duplication across banks, mutual funds, insurers and NBFCs, speeding up onboarding when you already have a CKYC record. Institutions update the registry when your details change.
CKYC works alongside eKYC and Video KYC; the latter are methods of verifying identity, while CKYC is the shared repository that lets verified records be reused across the financial system.
Related terms
- Account Aggregator (AA)The Account Aggregator framework is an RBI-regulated, consent-based system that lets you securely share your financial data from one institution with another through a licensed intermediary.
- eKYCeKYC is the electronic verification of a customer's identity using digital records such as Aadhaar, replacing paper-based document submission for opening accounts and availing services.
- Video KYCVideo KYC is an RBI-permitted process where customer identity is verified through a live video interaction with an official, allowing fully remote account or loan onboarding.
Plain-English explainer from The Dispatch Investors Encyclopedia. General information, not financial advice.