Central KYC or CKYC was replaced the old KYC process. It’s centralized process avoids you to submit multiple KYC while opening savings bank accounts, buying life insurance or investing in mutual fund products into one time centralized process. How to check CKYC or Central KYC Status online?
As I pointed above, now this new Central KYC or CKYC replaced the old KYC process. This reduced the multiple submission of KYC at different stages of financial transactions.
What is CKYC or Central KYC?
It 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 Central KYC Registry system, the list goes beyond Aadhaar and PAN. It removes the submission of KYC at different level or to different financial institutions of your financial transactions.
It is also the single form to create new KYC or modify the existing KYC. Three types of accounts are specified. One is Normal, second is Simplified or for low-risk customers and third is Small investors. You have to select which is applicable to you.
If your aggregate of all credits in a financial year does not exceed rupees one lakh, the aggregate of all withdrawals and transfers in a month does not exceed rupees ten thousand or the balance at any point of time does not exceed rupees fifty thousand, then you will be considered as SMALL account type of investor.
The simplified or low-risk customers means customers who are not able to submit anyone among 6 documents listed. They are Passport, driving license, PAN card, Voter ID, job card issued by NREGA or Aadhaar Card.
This CKYC or Central KYC also includes the FATCA declaration. Hence, it avoids you declare the same at the different level of your investments.
The format of CKYC or Central KYC will be as below.
How to fill the CKYC or Central KYC form?
I have created a short video on how to fill this form. This is simple and easy to understand. Watch this video before filling the CKYC or Central KYC form.
How to check CKYC or Central KYC status online?
As of now, there was no link to check CKYC or Central KYC status online. Hence, many found it hard to check the status online. However, recently Karvy started the facility to check CKYC or Central KYC status online.
This I think a big relief to many. I know that even though you submitted the CKYC or Central KYC application, in some cases the status may not show this. I think they are still at data compilation mode. But still, I feel it’s the big relief to many.
Visit the Karvy website link to check CKYC or Central KYC status online.
The screen looks like below.
You notice that you will also get your CKYC ID, which is very much important to quote for future references like modify or update your KYC data.
As I pointed, as of now Karvy started this facility. I will update this post whenever others also follow the same.
Do note that if your KYC was registered in the old system of KYC, then the status will not reflect CKYC ID, instead, it shows the old KYC data.