CENTRAL KNOW YOUR CUSTOMER (CKYC)

What is CKYC?

Central KYC is a centralized repository of customer identification information managed by the Central Registry of Securitization and Asset Reconstruction and Security Interest of India (CERSAI). It acts as a single access point for financial institutions to verify customer details, eliminating the need for repetitive documentation and verification.

For more information, watch here

Benefits of CKYC

• Central KYC significantly reduces the time and cost involved in KYC verification.
• It eliminates the need for producing of KYC documents multiple times if there is no change in the existing CKYC record.
• It is a Centralized repository of KYC records hence it can be used across all Financial products and PAN India.
• CKYC improves the customer experience significantly in availing of financial services. CKYC enables banks and financial institutions to access and manage customer information, thereby improving overall efficiency.

How to complete CKYC process?

• Firstly, you need to visit your nearest Branch having account based relationship and submit all the relevant documents required for generation of CKYC Number.
• Once the documents are received by Branch Officials, it will be duly verified and will be further processed for uploading of records on CKYC Registry.
• Once the documents are successfully uploaded on CKYC Registry, you will be issued a 14 digit unique CKYC Identifier that can be used for availing various financial services in the future.

Documents required for CKYC.

• KYC Documents.
• PAN/Form 60 details
• Recent passport-size photographs
• CKYC Consent Form

For more Information, contact our nearest Bank of Baroda branch.