What is Central KYC Registry?
Central KYC Registry is a centralized repository of KYC records of customers
in the financial sector with uniform KYC norms and inter-usability of the
KYC records across the sector with an objective to reduce the burden of
producing KYC documents and getting those verified every time when the
customer creates a new relationship with a financial entity.
GOI has authorized Central Registry of Securitization and Asset
Reconstruction and Security interest of India (CERSAI) to perform the
function of CKYC Records Registry under PMLA rules’ 2005.
CKYC broadens the horizon for the KYC compliance status and will help
avoid KYC registrations with different financial institutions which are
under the governance and supervision of different regulators.
A person who completes his KYC under central KYC gets a 14 digit KYC
Identification Number (KIN) which he / she can do the investment in MF by
quoting the KIN No.
When will CKYC become mandatory?
Effective 01st Feb’2017, a new investor (Individual only) to the mutual fund
industry and who is not already a KYC compliant and wants to invest in MF,
has to obtain KIN by completing his / her CKYC with CERSAI.
An investorcannot approach CERSAI directly for CKYC. He needs to approach
the intermediary where he / she proposes to open the account – like Bank,
Insurance, Mutual Fund etc.
Is CKYC mandatory for all types of investors effective 1st Feb’17?
For now, it is mandatory for Individuals only. CKYC is not activated for Non
Individuals including HUF. KYC for non individuals will continue to be under
the existing KRA regulations.
What is the difference between KRA KYC and CKYC?
Under the CKYC, there are additional fields viz Mother’s name, Father’s
Name, Maiden Name (if any) and Transgender under Gender details are being
sought which are not part of the KRA KYC.
Also, there is only one KYC type under the KRC KYC however there are three
types of KYC under CKYC.
Where does an investor get the CKYC form?
An investor can download the CKYC form from any MF website or reach out to
any distributor or AMC office for same. He / She can submit the duly filled
CKYC form to nearest AMC / RTAs office.
Where does the investor carry out the IPV?
In Person Verification (IPV) is not specifically mandated under
CKYC. However, as the same is required for MF investment, it can be
carried out by the AMC employee / distributor before submission of
the form to nearest AMC / RTAs office.
Whether PAN is mandatory for an investor to be CKYC Compliant?
PAN is not mandatory under CKYC. However, under the extant regulations, PAN
is mandatory for investments in Mutual Fund, except where investments are
proposed under Micro SIP.
Can a new investor do investment in MICRO SIP?
Yes, through Simplified KYC, an investor can continue to invest in MSIP
provided existing criteria is met.
The name as mentioned in CKYC form should exactly match with the one
mentioned in your ID proof annex along with the CKYC application form. In
case of mismatch, there is a likelihood of rejection of CKYC post
After the CKYC form is submitted by an investor, what is the confirmation
received by the investor?
After CKYC form is submitted, a 14 digit KIN is issued with the investor
on his mobile number.
In how many days is the CKYC number shared with investor and what is the
mode of communication?
The CKYC number is expected to be made available to the investor in 1-3
working days upon successful submission of form. The KIN is communicated to
the investor on the mobile no mentioned on the CKYC application form. If
email id is provided, the KIN no is shared to the investor along with the
name and address as an attachment. Investor can thereafter quote the number
in the application form in future.
Can the Central KYC Registry capture multiple communication addresses?
Yes. Central KYC Registry will enable linkage of multiple communication
An individual wanting to add different addresses, office or residential, for
different types of relationships, can fill Annexure-A1 and submit the
details to the financial institution which in turn will initiate the update
request on the Central KYC application.
In case of legal entities, where there may be a requirement to maintain
different accounts for branches with different communication address, the
entities shall submit the correspondence address details in Annexure-A2
In CKYC applicable for investors who are Sole Proprietor / HUF?
As sole Proprietor is treated as an Individual from a taxation standpoint, a
new Investor has to complete CKYC before making an investment in MF. But the
requirement of CKYC is not applicable for HUF currently.
What is the timeline for the KYC record to be uploaded onto the Central KYC
As per Prevention of Money-laundering (Maintenance of Records) Amendment
Rules, 2015, Rule 9 (I) (1A), every reporting entity shall within three days
after the commencement of an account-based relationship with a client, file
the electronic copy of the client’s KYC records with the Central KYC
Registry. However, since allotment of units can happen only when the new
investor is CKYC complied, the filing / update of data with CKYC should be
as soon as practicable.
Can an application along with CKYC form be submitted to Karvy effective 1st
Yes, you can submit application along with CKYC forms at Karvy.
How does one update address or other details after receiving KIN number?
An investor can submit the same CKYC form quoting 14 digit KIN number and
attach relevant supporting document and submit to nearest AMC / RTAs office.
How does an investor update address and other details if he/she is KRA KYC
An investor can submit change of address details in KRA KYC form and attach
relevant supporting document and submit to nearest AMC /RTAs office
Can a CKYC form carry a thumb impression?
Yes. CKYC form can carry thumb impression which has to be attested by Notary
Public or a Magistrate. However thumb impression on SIP NACH Form is not
permissible since destination banks are not honoring the same under NACH