The full form of CKYCR is “Central Know Your Customer Registry”. It is also sometimes referred to as the “CKYC Registry” or the “Central KYC Records Registry”.
It is a centralized repository of Know Your Customer (KYC) information of customers of financial institutions in India. It was established by the Reserve Bank of India (RBI) in 2016 to facilitate the sharing of KYC information between different financial institutions, thereby reducing the burden on customers of having to submit the same information repeatedly.
The CKYCR is maintained by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI). CERSAI is a non-profit company that was set up by the RBI in 2006. The CKYCR stores the following information about customers:
- Date of birth
- Permanent account number (PAN)
- Aadhaar number
- Passport number
- Driving license number
- Mobile number
- Email address
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The CKYCR also stores information about the financial institutions that have accessed a customer’s KYC information. It is also a secure and reliable system. It is protected by a number of security measures, including encryption and access controls.
Benefits of CKYCR
Here are some additional benefits of the CKYCR:
- It reduces the risk of fraud by making it more difficult for criminals to open multiple accounts using fake identities.
- It helps to improve customer convenience by allowing customers to share their KYC information with multiple financial institutions without having to submit it repeatedly.
- It saves time and money for financial institutions by reducing the need to manually verify KYC information.
- It helps to improve compliance with KYC regulations by providing a central repository of KYC information that can be accessed by all regulated entities.
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The CKYCR is a valuable tool that is helping to make our financial system more secure and efficient.
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