Over the past few days, the Reserve Bank of India along with banks across the country have been sending customers a message on WhatsApp about CKYC. Some customers are receiving the same information as a plain text message instead. The moment people read it, the first question that comes to mind is what CKYC actually is and whether the message is something to worry about. Many customers had never even heard the term CKYC before this, so it is only natural that questions are piling up. Here are the answers, laid out one by one.
What exactly is a CKYC number
CKYC stands for Central Know Your Customer, a centralised system under which every customer is given a unique 14 digit number. This number is generated only once but can then be used at any bank or financial institution anywhere in the country. Once a customer's KYC details are verified a single time, they get stored securely in a database, and that same 14 digit CKYC number is issued alongside them. The number stays permanently linked to that customer's KYC records, which is why repeated verification is not required afterwards.
Why CKYC was made necessary
CKYC is a one time centralised KYC process launched by the Government of India, aimed at making financial transactions simpler and faster. Just like ordinary KYC, its core purpose is to curb financial fraud and money laundering. It keeps every customer's financial record secured in one place, which helps maintain transparency and trust across the banking system.
The benefits CKYC offers customers
The biggest advantage of CKYC is that it is a one time process. That means customers no longer need to go through repeated KYC at every different bank they deal with. If a customer already has a CKYC number, there is no need to gather documents all over again and submit them at each bank or financial institution. This saves time and spares customers the running around for paperwork. On top of that, whenever someone needs to open a new bank account or update KYC details on an existing account, they do not need to submit fresh documents, quoting the 14 digit CKYC number is enough to get the job done.
How to get a CKYC number
There are three simple ways to obtain a CKYC number. The first is to directly contact your own bank and request it. The second is to call 7799022129, which can also be used to obtain a CKYC number. The third and most direct option is to visit the ckycindia.in portal and get the number from there.
Documents needed for CKYC
CKYC mainly requires three categories of documents. For proof of identity, one of Aadhaar card, PAN card, passport or driving licence is accepted. For proof of address, an electricity bill, water bill, landline bill, broadband bill, rent agreement, or any government document bearing the customer's address is valid. Alongside these, a recently taken passport size photograph also needs to be submitted.
How to check CKYC status online
To check CKYC status online, the first step is to visit the ckycindia.in portal. After entering either the PAN number or the CKYC number there, the status becomes visible. At this point it is worth double checking that all the information listed on the portal is up to date, so that no banking process runs into trouble later.
What separates KYC from CKYC
KYC is a verification carried out by one particular bank or financial company, and it cannot be used at any other bank or financial company. CKYC, on the other hand, is verification carried out through a central system, and it is accepted at any bank or financial company across the country. That is precisely why, once a CKYC number exists, customers do not need to go through the verification process again and again.
