Whats ckyc?

Deal Cadet

What is CKYC ? 
Can we use it to open FD in banks especially small finance banks?

Have/would you invest in SFB FDs above 5lakh? 
Any bad experiences with SFBs ?

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Deal Cadet Deal Cadet
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guess its a niche topic ...😔

Deal Newbie Deal Newbie
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May be it is about being niche, maybe it is not about being niche.

Even in past, only ho-hum participation on such things.

Still you can check with or tag Agni007, baludesi, akki.akki, tridentdg, xmenlogan123, Jarvis.-., abhishek012, rosh_0007, bikidas2060, guest999 and others about what CKYC is.

Sometimes topics do not get traction or it can be fluke that out of the thousands of people here, someone responds and then thread picks up. At other times no one has much to add or do not have time to devote, inclination to respond.

It helps to tag others though and obviously being part of informal groups or gangs or at-least being on good terms with others here (especially the regular users).

Actually your last two queries, about SFBs are a bit narrow and only limited people (mostly in the 'Finance' sub-forum) would have something to say or share.
Generous Generous
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ye sub jumla hai

Deal Cadet Deal Cadet
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The primary purpose of CKYC (Central Know Your Customer Registry) was to enable individuals to avoid repeating the KYC (Know Your Customer) process with different financial institutions, such as when opening new bank accounts. 

Once you've completed the CKYC process and received your unique CKYC number, you should not have to undergo KYC verification again when dealing with another financial institution.

Despite the implementation of CKYC, many banking and finance professionals, as well as those designing back-office software and application submission form, remain unaware of its purpose. Consequently, they continue to insist on repeating KYC verifications with each new financial institution, overlooking the benefits offered by CKYC.

As a customer, you are left with no choice but to comply with their requirements, even if it means repeating KYC verifications unnecessarily, just to get your transactions processed and move forward.

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