Introduction: CKYC is formerly known as for the Central Know Your Customer. It is the agency that has all the records of the mutual fund and all the information of the investors. Investors who are investing in Mutual funds. Firstly they have to register their information in CKYC Online. It is a website that records all the information of the investors and secures them and records their activity which can be very beneficial to all and it gives all information about the investors and also shows us his investments in the other financial tips and other activities of the investors. It also ensures the safety of the details of every investor in electronic records which is very good security for them. So CKYC records all the details of the investors in the Mutual Funds.
Features of CKYC:
- A KYC identification number (KIN) or a CKYC number is provided by them and which is linked to ID Proof.
- You can purchase any financial product so that your documents are verified.
- They provide the details and information are stored in an electronic format.
- will provide you with an Id authentication with issuing rights like other identification Aadhaar/PAN.
- This facilitates all by giving the notification of any changes in the KYC details.
- They eliminate the need for submitting more documents for identity proof and address proof.
How to register in CKYC:
- They provide very and instant working. Users have to submit their Name, PAN card details, and Aadhar card details. Any extra ID is not needed in this process.
- Aadhar based EKYC has some limitations that are the investors can invest only Rs. 50,000 per mutual fund per year.
- But an investor wants to invest more than Rs. 50,000 then first have to register in it.
- In CKYC registration, some details are required, like ID proof, proof for the address, Fatca details verification.
- SEBI authorized also needs the Investor for the verification of the details of the KYC application as well as in the ID verification of that person.
Why this is important in Mutual Funds:
Central know your customer. It’s mainly working is to keep the records and centralized repository of KYC records of the customer for use in the financial sector and these records are used to the KYC records of customers in the financial sector with Uniform KYC. This helps the investment in a mutual fund and reduces the problems of producing KYC details and that details are verified which is getting those whenever the investor invests in new investment in any other financial company. We can also see the importance of CKYC Online.
Conclusion: Here we see a brief discussion about the CKYC Online which is very useful for the investors so that they can easily be verified and get to register in the CKYC it keeps your records in the electronic attachments. so this very useful for us it gives all the information about the investors that how many investments are done by the investors.