In the context of risk management; the infamous epistemology of uncertainty – “there are known knowns, known unknowns, and unknown unknowns” is well understood. This maps seamlessly with the unsettling precision onto the world of Know Your Customer (KYC) compliance in Indian financial services. The known knowns are the KYC documents we collect. The known […]
We often obsess over the visible giants of the Indian economy, such as UPI, adoption of digital transactions and the rapid growth of the financial ecosystem. Yet, the real engine of our economic explosion seems to be invisible. It is a silent digital handshake happening millions of times a day between a central registry and a financial institution.
There is a need to amend the Directions to clarify the responsibility of entities uploading customer records to and downloading the same from CKYCR, based on the office memorandum (OM) titled “CKYCR and the ultimate responsibility of REs – reg.
This is to inform you about a new feature in CKYCRR that will enable reporting entities (REs) to flag KYC
records of deceased customers.
The framework governing the quality of KYC records uploaded to the CKYCRR is already prescribed/published on the CKYC website under the operating documents/guidelines tab & REs are advised to follow these parameters reiterated in a compiled form.
A new module has been rolled out to manage the deactivation of duplicate KYC records that are observed in CKYCR. It’s designed to help reporting entities (REs) in reporting, merging & deactivating duplicate KYC records.
This is to inform that in compliance with the order dated April 30, 2025, of Honorable Supreme Court regarding “Accessibility to Digital KYC process to Differently Abled Persons”, the following details shall be collected by CKYCRR:
Further to communique CKYC/2024/10 dated December 24, 2024, REs are hereby informed of process for claiming incentives for eligible transactions carried out
in CKYCRR. Effective January 1, 2025, REs shall be eligible to claim incentives as per the following rates mentioned in the document.
This is regarding the introduction of OTP-based consent mechanism in the download process of Individual KYC records through API and screen-based download, and version changes to theCKYC Search API and CKYC Download API.
The Central Know Your Customer (CKYC) initiative, established by the Government of India aims to streamline and simplify the KYC process across financial institutions. Managed by the Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI), CKYC serves as a unified repository for storing KYC records of individuals.