Central KYC Registry

Central KYC Registry is a centralized repository of KYC records of customers in the Indian financial sector with uniform KYC norms and inter-usability of the KYC records across the sector with an objective to reduce the burden of producing KYC documents and getting those verified every time when the customer creates a new relationship with a financial entity.

The Government of India vide their Notification dated November 26, 2015 authorised the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), set up under sub-section (1) of Section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), to act as and to perform the functions of the Central KYC Records Registry under the said rules, including receiving, storing, safeguarding and retrieving the KYC records in digital form of a “client”, as defined in clause (ha) of sub-section (1) of Section 2 of the Prevention of Money-Money-laundering 2002. The Central Government have also amended the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 vide Notification dated 7th July, 2015 for the purpose of establishment of Central KYC Registry. As per Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2015, Rule 9 (1A), every reporting entity shall within three days after the commencement of an account-based relationship with a client, file the electronic copy of the client‟s KYC records with the Central KYC Registry.

The Central KYC Registry have the following functions and obligations: a) Shall have a secure electronic connectivity with the registered reporting entities. The web address of Central KYC Registry portal is "https://www.ckycindia.in"

b) Shall have a secure data transmission link with the ID issuing authorities wherever feasible and use such electronic data, as permitted, and preserve it with the Central KYC Registry.

c) Shall be responsible for electronically

(i) storing 
(ii) safeguarding and 
(iii) retrieving the Know Your Customer (KYC) records and making such records available online to reporting entities or Director. 

d) Information updated about a customer shall be disseminated on request by Central KYC Registry to any reporting entity that avail the services of the Central KYC Registry in respect of the customer.

e) The services of the Central KYC Registry will be available on payment of prescribed fee, in advance.

f) Shall process the KYC records received from a reporting entity for deduplication and issue a unique KYC Identifier for each client to the reporting entity.

g) Ensure that the integrity of the electronic systems for records is maintained and accessible at all material times.

h) Take all precautions necessary to ensure that the electronic Know Your Customer (KYC) records are not lost, destroyed or tampered with and that sufficient back up of electronic records is available at all times at a different place.

i) Take all reasonable measures to prevent unauthorized access to its KYC database.

The reporting entities shall have the following functions and obligations:

a) Reporting entities shall be required to register with the Central KYC Registry in accordance with the processes and instructions issued.

b) While commencing an account based relationship, the reporting entity shall verify the identity of the customer and perform the initial due-diligence of the customer.

c) Where a customer submits a KYC Identifier to a reporting entity, then such reporting entity shall download the KYC records from the Central KYC Registry by using the KYC Identifier and shall not require a customer to submit the documents again unless

 i) There is a change in the information of the customer as existing in the records of Central KYC Registry.
 ii) The current address of the client is required to be verified.
 iii) The reporting entity considers it necessary in order to verify the identity or address of the client, or to perform enhanced due diligence or to build an appropriate risk profile of the client.

d) The reporting entity shall not use the KYC data of a customer obtained from the Central KYC Registry for purposes other than verifying the identify or address of the client and shall not transfer KYC records or any information contained therein to any third party unless authorised to do so by the client or by the Regulator or by the Director.

e) The reporting entity which performed the last KYC verification or sent updated information in respect of a client shall be responsible for verifying the authenticity of the identity or address of the client.

The prescribed fee is payable by the reporting entity for each type of transaction and Central KYC Registry will collect such fees from the reporting entities, in advance.

Grievance Mechanism Central KYC Registry shall provide for the grievances of reporting entities to be redressed in a timely and appropriate manner and ensure records are maintained for such resolution.

Contact details of the Central KYC Registry Helpdesk: Phone: 022-61102592

Email: helpdesk@ckycindia.in

C-KYCR (Central KYC Registry)

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