CKYC simplifies banking, investments, and insurance. Learn how this 14-digit number streamlines your financial processes and reduces paperwork.
1/6Opening a bank account, investing in mutual funds or buying an insurance policy usually requires completing Know Your Customer (KYC) formalities. But submitting the same documents repeatedly to different financial institutions can be time-consuming. A 14-digit Central KYC (CKYC) number can help simplify the process.
2/6A CKYC number is a unique 14-digit identification number linked to your KYC record. The record is securely stored in the Central KYC Records Registry (CKYCR). Once your CKYC record is created, banks, NBFCs, insurance companies, mutual fund houses and other regulated financial institutions can access the same KYC details, reducing the need to submit documents repeatedly.
3/6A CKYC number is designed to make banking and investment-related processes more seamless. Instead of completing fresh KYC formalities with every financial institution, customers can use the same centralised record across multiple regulated entities. This can speed up account opening, simplify investments in mutual funds, make insurance purchases more convenient and significantly reduce paperwork and duplication of documents.
4/6How can you check your CKYC number? If you are unsure whether you already have a CKYC number, you can contact the bank or financial institution where you completed your KYC. Customers can also give a missed call to 7799022129 to receive CKYC-related information. Alternatively, they can visit the official Central KYC Records Registry (CKYCR) portal and search for their CKYC record using the required details.
5/6Why is CKYC important? With many customers now using multiple banks, mutual funds, insurance companies and other financial service providers, maintaining separate KYC records with each institution can become cumbersome. The CKYC framework links a customer’s identity to a single centralised record, making customer onboarding faster while reducing repetitive documentation and saving time.
6/6What has RBI said? The Reserve Bank of India (RBI) has advised customers to know and use their CKYC number wherever applicable. According to the central bank, the CKYC system helps make banking and investment-related services simpler, faster and more convenient, particularly for customers who have relationships with multiple financial institutions.
