Central Government of India has created CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) to ensure single KYC across all financial products.

It provides an ease to the every financial consumer by submitting one time KYC at the CERSAI portal and escaping from the requirement of giving KYC every time they avail any financial service. The main objective behind CKYCR introduction is to overcome the issue related to repeated submission.


Sec 73 of Prevention Of Money Laundering Act, 2002 confers a power to the Central Government that it can make rules by coming out with the notification for carrying out the provisions of this Act.

Under the same the Central Government in consultation with the Reserve Bank of India came out with some  rules further to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 dated 07th July, 2015.


1. Definition of Central KYC Records Registry: “Central KYC Records Registry” means a reporting entity, substantially owned and controlled by the Central Government, and authorised by that Government through a notification in the Official Gazette to receive, store, safeguard and retrieve the KYC records in digital form of a client as referred to in clause (ha) in such manner and to perform such other functions as may be required under these rules.

2. Entities required to upload/ search/ download/ update KYC records as per the PMLA:

Rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 makes it mandatory to verify records of the identity of clients. It specifies about the Client Due Diligence. After coming of amendment some new insertion has been done in the Rule 9. Rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 makes it mandatory to verify records of the identity of clients. It specifies about the Client Due Diligence. After coming of amendment some new insertion has been done in the Rule 9.

The PMLA states as per rule (9) (I) (1):

(1A) ″Subject to the provisions of sub-rule (1) of the Prevention of Money-laundering Act, 2002 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 Records Registry.″

(1C) Where a client submits a KYC Identifier to a reporting entity, then such reporting entity shall retrieve the KYC records online from the Central KYC Records Registry by using the KYC Identifier and shall not require a client to submit the same KYC records or information or any other additional identification documents or details

(1D) A reporting entity after obtaining additional or updated information from a client under sub rule (1C), shall as soon as possible furnish the updated information to the Central KYC Records Registry which shall update the existing KYC records of the client and the Central KYC Records Registry shall thereafter inform electronically all reporting entities who have dealt with the concerned client regarding updation of KYC record of the said client.


Financial institution means a financial institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) and includes a chit fund company, a co-operative bank, a housing finance institution, an authorised person, a payment system operator, a non-banking financial company and the Department of Post in the Government of India. [Section 2 (1) (l) of the Prevention of Money Laundering Act, 2002]


1. User friendly web portal

2. Unique KYC identifier linked with independent ID proofs

3. KYC data and documents stored in a digitally secure electronic format

4. Secure and advanced user authentication mechanisms for system access

5. Data de-duplication to ensure single KYC identifier per applicant

6. ID authentication with issuing authorities like Aadhaar/PAN etc.

7. Substantial cost reduction by avoiding multiplicity of registration and data upkeep

8. Real time notification to institutions on updation in KYC details

9. Regulatory reports to monitor compliance


CKYCR is effective from 15th July, 2016.


1. Duly signed Institution Registration Form

2. Regulator License/Certificate/ Notification

3. PAN card of the Entity

4. CIN (in case regulator issues multiple licenses to an entity)

5. Registration Certificate (In case of Co- Operative Banks/ Societies)

6. Authorization letter by competent authority for Admin Users( should be signed by the Authorized Signatory/ Director)

7. Certified copy of the Proof of the identity of the Admin user.

8. Certified copy of photo identity card of the Admin user  issued  by the Institutions.


Central KYC application can be accessed by authorised institutions or other notified institutions under the Prevention of Money Laundering Act or rules framed by the Government of India or any Regulator (RBI, SEBI, IRDA, and PFRDA) there under.


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One Comment

  1. Shailesh Shah says:

    If two directors of the NBFC gives their name as CKYC administrator 1 an 2 who will sign authorization letter as competent authority and draft of such letter-please guide me

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February 2021