New Delhi: Have you heard of CKYC or Central Know Your Customer Number? It is a unique identification number of 14 digits, which makes the process of opening an account in banks and other financial institutions easy, fast and transparent. The Reserve Bank of India is constantly making people aware of the CKYC number and its importance.
The CKYC number is linked to an individual’s KYC record. It is maintained in the Central KYC Records Registry (CKYCR). Once the KYC record is registered, different financial institutions can use the same record if required with the customer’s consent. This eliminates the need to complete a new KYC process every time.
Why is CKYC number required?
The objective of CKYC system is to make the KYC process faster, easier and more effective for customers. Earlier, opening an account or investment in a new bank, brokerage house, mutual fund company, insurance company or non-banking financial company (NBFC) required submission of separate KYC. But CKYC makes the process simpler.
Now if a customer has a CKYC number, then the concerned financial institution can get his KYC records from the central registry. This provides relief from repeated submission of documents, re-verification and long paper procedures. It also makes it easier to avail financial services and investment products.
Features of CKYC Number
- CKYC number is a 14 digit unique identification number
- It is maintained in the Central KYC Records Registry (CKYCR)
- The biggest advantage is it obviates the need to submit KYC documents repeatedly
- Where applicable banks, NBFCs, mutual funds, insurance companies and other regulated financial institutions
How to find CKYC number?
According to RBI, there are many ways to know CKYC number:
- You can get information about CKYC number by contacting your bank or related financial institution
- You can also get your CKYC number by giving a missed call on 7799022129
- You can also check your information by visiting the official website of CKYC
The RBI advisory
RBI has appealed to people to be aware of their CKYC status and be cautious while using financial services. The Central Bank through its “RBI Kehta Hai, Jaankar Baniye, Satark Rahiye” campaign is continuously making citizens aware of CKYC rules, its importance and safe financial transactions
