CKYC identifier – The KYC Identification Number (KIN) is a 14-digit number given by CERSAI to an investor who has finally completed their CKYC formalities. This number should be noted every moment the KYC details are required to be accessed by any intermediary.
How can I track the status of my CKYC?
Go to Karvy website link to check cKYC identifier status. If after submitting your documents you receive the 14-digit KYC Identification Number (KIN), this implies that your cKYC request has been effective and you are compatible with cKYC. CERSAI shall allocate the KIN to an eligible request within 4-5 working days. Once the KYC Identification Number or KIN for your KYC account is created, an SMS will be sent to your registered mobile number along with an email.
In case of any discrepancy found in your request, it may be rejected. In such instances, CERSAI will not send you any information. The financial entity processing your Central KYC request will be made aware of the scenario and should contact the agency for any questions and solutions.
How to comply with CKYC or Central KYC?s
Central KYC (cKYC) was introduced to simplify the lives of customers. If you complete the cKYC process with any bank, mutual fund or insurance company, you will be compatible with KYC and then you will not have to do so anywhere. The central KYC will store all customer data on a central server that all financial institutions have access to. Before the commencement of the Central KYC (CKYC) process, various financial institutions such as mutual funds, banks, etc. had different KYC procedures. Central KYC (cKYC) aims to bridge this gap on various platforms.
To follow CKYC, you have to fill the Central KYC (cKYC) form. The customer is required to produce a self-attested copy of the identity card (PAN card, etc.) along with the scanned photo and signature and proof of address along with the correctly filled address. The KYC form includes some new fields, such as the name of the applicant’s mother, who was not present in the KYC form.
A KYC account will be opened with adequately filled CKYC form. After opening a KYC account or completing cKYC, you will receive a 14-digit KYC Identification Number (KIN), which is unique to each person. Therefore, for new investment or to open a new account in any financial organization, you just have to display this number every time. This number will keep all your information in the center and will save you and the business or bank by eliminating the tedious process of KYC.
Documents Required along with CKYC Form
The following set of documents should be submitted while submitting the Central KYC Form:
- The CKYC form is correctly filled out and signed
- A self-tested copy of Identity Proof
- A self-attested copy of Proof of Residence
- One photograph
Note: Check CKYC or Central KYC status online. You will see the screen showing the status when you enter the PAN and the characters appear below and now press the search button.