CKYC vs eKYC: A Complete Guide for Financial Institutions

  Central KYC (CKYC) is a government-led initiative in India, managed by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) . Its goal is to store KYC data in one central repository to maintain uniformity, reduce redundancy, and improve transparency in the financial sector. When customers complete the CKYC process, they receive a 14-digit KYC Identifier (KIN) , which can be used by financial institutions to avoid repeating the same KYC steps with different organizations. CKYC vs eKYC What’s the Difference? While both CKYC and eKYC aim to verify customer identity, they differ in implementation, regulation, and use cases . 1. Authority & Management CKYC : Managed by CERSAI under a government mandate. eKYC : Conducted by banks, NBFCs, or service providers using Aadhaar-based systems. 2. Data Centralization CKYC : Stores KYC data in a centralized repository, accessible by all financial institutions. eKYC : Data ...