CKYC (Central KYC)
CKYC is a single and centralized KYC process for all your financial transactions. In the old format of KYC, PAN was the sole identifier for an investor. However, in new CKYC Registry system, the list goes beyond Aadhaar and PAN.This CKYC also includes the FATCA (Foreign Account Tax Compliance Act) declaration.
CKYC will be managed by CERSAI (Central Registry of Securitization Asset Reconstruction and Security Interest of India), which is authorized by Government of India to act as and to perform the function as the Central KYC Registry (CKYCR) under the PMLA (Prevention of Money-Laundering) rules 2005, including receiving, storing, safeguarding and retrieving the KYC records in the digital form for a client. The objective of CKYCR is to reduce the burden of producing KYC documents and getting those verified every time.
KIN (KYC Identification Number) is being allotted by CERSAI to investors whose CKYC application is found to be valid via an SMS / email only.KIN is a 14 digit number allotted by CERSAI to an investor who has completed CKYC formalities. This number should be mentioned each time the CKYC details are required to be accessed by any intermediary.
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Mutual Fund investments are subject to market risk kindly read all documents carefully before investing.
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