CKYC: Regardless of whether you wish to open a bank account or invest in a mutual fund, the initial step is to complete KYC (Know Your Customer). Banks require all the documents from you for this purpose. Before you invest in a mutual fund, the fund company conducts your KYC. They require additional documents from you, such as PAN and Aadhaar for this. To prevent this inconvenience, obtain a CKYC number. It is created quite simply.
Following this, you will eliminate the inconvenience of repeatedly completing KYC. Having this number means you won’t have to complete KYC to open a bank account or carry out other financial tasks. If you possess a CKYC number, you can open an account with SBI from the comfort of your home. This service is being offered by the bank. Inform us of how you can obtain this number. India has a centralized database that holds the KYC details of customers.
In simple terms, it’s akin to a safe digital repository for your identity and private details. Therefore, when you wish to open an account or make an investment, you won’t need to complete your KYC each time. Banks will gather the information they require via CKYC. CKYC is a distinctive 14-digit number associated with your identity, enabling easy access to all identity documents. We want to inform you that the Central Registry of Securitization Asset Reconstruction and Security Interest (CERSAI) is an organization under the Government of India that functions as a central storage for KYC records.
How do you create your CKYC?
- Find a financial institution (banks, insurance companies, mutual funds and other financial institutions) registered with CKYC.
- Submit the required documents like PAN card, Aadhar card, and address proof.
- The financial institution will verify your documents with the issuing authorities.
- After successful verification, you will get a unique 14-digit CKYC number.