What is CKYC?
Central KYC Registry, or CKYCR, will re place the existing multiple KYC submission processes one needs to go through for various financial transactions, such as opening bank accounts, buying life insurance, and investing in mutual funds. The government has authorised the Central Registry of Securitisation and Asset Reconstruction and Security Interest of India (CERSAI) to manage the CKYC Registry process.
What does a first-time investor in mutual funds have to do?
An investor now has to fill the new CKYC form before investing in mutual funds. Along with the form, he has to submit a self-attested copy of his PAN card, and identity and address proofs, such as passport and Aadhaar card. The new form has an extra field for the name of the applicants mother. Once the new form is processed by the registrar, a 14-digit KYC Identification Number (KIN) will be issued by CKYC, which ca ..
Sources: EconimicTimes