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CKYC India - what is it ?

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indiansoul

I got am email today from [email protected] stating that my KYC is updated with them by IDFC bank. I open account with IDFC two days back but I have never heard of CKYC. Does any one know if this is a new govt agency for Central kyc, as it claims or a phishing attempt.

Message in email:



Greetings from Central KYC Registry

Your KYC record XXXXXXXXXXXXXXX registered with Central KYC Registry has been updated by IDFC FIRST BANK LIMITED on 02-02-2021. Your Current Address, Permanent Address, Contact Details has been updated .

Please find enclosed your updated KYC record. The file is password protected. Please enter your date of birth in the format ddmmyyyy to open the file.

Central KYC Records Registry is a centralized repository of KYC records of customers in the financial sector. It enables uniform KYC norms and inter-usability of the KYC records across the financial sector.

The registry is maintained by CERSAI (Central Registry of Securitisation Asset Reconstruction and SecurityInterest of India), a Government of India undertaking and is authorized by the Government through a notification in the Official Gazette to receive, store, safeguard and retrieve the KYC records in digital form of a client as referred to in the Prevention of Money-laundering Act (PMLA), 2002.

Please do not reply to this mail

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It’s from Central KYC Registry, need not to worry bro…

Critic Critic
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Nothing to worry..now you received a kyc number with you which is allotted to you..if you ever have to do kyc with anyother thing e.g. bank account opening, mutual fund,sim card, you just need to give this number to them and not the kyc documents(aadhar, DL etc). They will use this number to verify the documents..that’s it. And kyc will be done very smoothly.
(TO THE BEST OF MY KNOWLEDGE)

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silentOBSERVER wrote:

Nothing to worry..now you received a kyc number with you which is allotted to you..if you ever have to do kyc with anyother thing e.g. bank account opening, mutual fund,sim card, you just need to give this number to them and not the kyc documents(aadhar, DL etc). They will use this number to verify the documents..that’s it. And kyc will be done very smoothly.
(TO THE BEST OF MY KNOWLEDGE)

I was searching for this info, Central word implies this kind of concept and needed as now we open accounts in so many banks its tedious to update KYC in each and every bank

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indiansoul wrote:

@guest_999 @ZitOO @abhishek012
@bikidas2060 @caks2006407

Any idea on CKYC

CKYC is mandatory by sebi so if you have ever invested in shares directly or invested more than 50k in any single MF in a year then you must already have CKYC. IDFC just updates for a person already having CKYC. You can check whether your pan is ckyc verified using this link:
https://www.karvykra.com/UPanSearchGlobalWithPa...

@caks2006407 CKYC was designed with this concept of universal acceptability in mind but as of now it has been mandatory only by SEBI not RBI so for banks you will have to do kyc every time.

Deal Subedar Deal Subedar
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silentOBSERVER wrote:

Nothing to worry..now you received a kyc number with you which is allotted to you..if you ever have to do kyc with anyother thing e.g. bank account opening, mutual fund,sim card, you just need to give this number to them and not the kyc documents(aadhar, DL etc). They will use this number to verify the documents..that’s it. And kyc will be done very smoothly.
(TO THE BEST OF MY KNOWLEDGE)

Thnaks for Info. This seems like very useful service. +Kg

Can someone add the info provided by @silentOBSERVER; to wiki. @admin

Deal Cadet Deal Cadet
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guest_999 wrote:

CKYC is mandatory by sebi so if you have ever invested in shares directly or invested more than 50k in any single MF in a year then you must already have CKYC. IDFC just updates for a person already having CKYC. You can check whether your pan is ckyc verified using this link:
https://www.karvykra.com/UPanSearchGlobalWithPa...

@caks2006407 CKYC was designed with this concept of universal acceptability in mind but as of now it has been mandatory only by SEBI not RBI so for banks you will have to do kyc every time.

Hi bro, i had opened bank account a few months ago and got email same as OP. The CKYC documents along with my regular details (name/dob/email..mobile – not provided) list submitted document as. Aadhaar and below my address is provided. I checked your provided link where I entered my pan but it’s showing “not available” In “status description” For all KRA. i had provided my pan also to bank while opening account and it’s showing in my bank account.Kindly advise. I’m thinking of investing in mutual funds (first time, novice). @silentOBSERVER

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Please take a look at your updated CKYC to ensure that they have not messed up the details. In my case, Axis “Horrible” Bank made wrong date of birth entry for eg instead of 01 date, they wrote 10. (Day 10 instead of Day 01)

Critic Critic
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smz wrote:

Hi bro, i had opened bank account a few months ago and got email same as OP. The CKYC documents along with my regular details (name/dob/email..mobile – not provided) list submitted document as. Aadhaar and below my address is provided. I checked your provided link where I entered my pan but it’s showing “not available” In “status description” For all KRA. i had provided my pan also to bank while opening account and it’s showing in my bank account.Kindly advise. I’m thinking of investing in mutual funds (first time, novice). @silentOBSERVER

IDFC now has a tie-up with zerodha so maybe they are not registering the CKYC status unless customer signup for their 3-in-1 account(trading+demal+savings) under investments option. You can call IDFC customer care to tell them that you are interested in opening 3-in-1 account so what are the charges & formalities. For comparison zerodha can open your acc completely online at a charge of 200-300+gst so if IDFC charge you more or tell you to do more formalities then better open an acc with zerodha directly or else open via IDFC. Once you open a demat acc your PAN will be ckyc verified as that is a requirement for opening demat acc.

Deal Cadet Deal Cadet
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guest_999 wrote:

IDFC now has a tie-up with zerodha so maybe they are not registering the CKYC status unless customer signup for their 3-in-1 account(trading+demal+savings) under investments option. You can call IDFC customer care to tell them that you are interested in opening 3-in-1 account so what are the charges & formalities. For comparison zerodha can open your acc completely online at a charge of 200-300+gst so if IDFC charge you more or tell you to do more formalities then better open an acc with zerodha directly or else open via IDFC. Once you open a demat acc your PAN will be ckyc verified as that is a requirement for opening demat acc.

Bro I had opened account in federal bank (sorry for not mentioning it in previous post). Any other link to check updated CKYC by entering aadhar number? @Ramta_Jogi

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smz wrote:

Bro I had opened account in federal bank (sorry for not mentioning it in previous post). Any other link to check updated CKYC by entering aadhar number? @Ramta_Jogi

That link I mentioned is the place where it must show “KYC registered” in description. Most likely banks simply send the info to CKYC registry but they don’t register this info as “for investment purpose” so even if info is with CKYC it does not show as “KYC registered” in the karvy ckyc status check link. Best option then is to open acc with zerodha, you will get a demat acc & trading acc(don’t tick/enable commodity or FnO section).

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smz wrote:

Bro I had opened account in federal bank (sorry for not mentioning it in previous post). Any other link to check updated CKYC by entering aadhar number? @Ramta_Jogi

You can go to CKYC site and recheck your details

Log on to the website of any financial services company offering CKYC check

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