CKYC means C͟e͟n͟t͟r͟a͟l͟ ͟K͟n͟o͟w͟ ͟Y͟o͟u͟r͟ ͟C͟u͟s͟t͟o͟m͟e͟r͟. This registration is mandatory for all below institutions:
· Financial institutions registered with 𝙍𝘽𝙄 (Banks, societies, etc.) or 𝙋𝙁𝙍𝘿𝘼 (Pension Fund Regulatory and Development Authority).
· Institutions registered with 𝙎𝙀𝘽𝙄 (E.g. Investment Advisors, Portfolio Managers, etc.)
· 𝙄𝙍𝘿𝘼𝙄 registered institutions.
· 𝙂𝙤𝙫𝙚𝙧𝙣𝙢𝙚𝙣𝙩 𝘼𝙜𝙚𝙣𝙘𝙮 (FIU-IND).
CERSAI has sole authority to act as and to perform the functions of the Central KYC Records Registry.
Let’s go through the process briefly;
◊ Registration can be processed by filing the online application (FI Registration Form) through the CKYC Portal (https://www.ckycindia.in/). You can also check the status of your application through this page.
◊ There shall be a minimum of two Admin Users who shall be responsible for making the application to the registry and uploading the KYC of clients. The Admin Users must be Indian Nationals. Admin Users must have Digital Signatures.
◊ The department has provided a testing environment (https://lnkd.in/gswmXRRy) to first help financial institutions familiarize themselves with the CKYC Portal. This testing is mandatory. Institutions are advised to upload fake entries in the testbed environment.
◊ The data entry process works on the Maker-Checker Policy. One Admin User uploads the data while the other verifies and approves the same.
◊ There are separate sets of login credentials for both (testing and live) portals, which are communicated through the applicant’s mail. Admin Users also have separate login credentials. Admin users can login only through the Digital Signatures.
◊ 𝘿͟𝙤͟𝙘͟𝙪͟𝙢͟𝙚͟𝙣͟𝙩͟ ͟𝘾͟𝙝͟𝙚͟𝙘͟𝙠͟𝙡͟𝙞͟𝙨͟𝙩͟ for registration:
· A Board Resolution in favour of the Nodal/Compliance Officer.
· Aadhar and PAN Card of Admin Users as Identity Proof.
· Registration Certificate issued by RBI, SEBI, IRDAI, and PFRDA.
· Institution’s PAN Card and Incorporation Certificate (CoI).
· Certified Photo ID Cards of Admin users issued by the institution.
· Authorization Letter for creating Admin User for CKYC.
· FI Registration Form duly signed.
· Approval mail from CKYC for Testbed approval.
· Approval mail from CKYC for FI Registration.
The hard copy of all these documents shall be delivered to the CERSAI Delhi Office. Within 7 working days, either registration or deficiency is communicated to the Admin Users/Institution.
The whole process shall be completed within 1 year of application, failing which the institution has to start again from the beginning.
If you require additional information or would like to request drafts, please feel free to contact me @ cs.parvsihag@gmail.com
cs ckyc cersai companysecretary