CKYC (Central KYC) and CKYC ID - All You Need to Know!
cKYC full form is Central Know your customer and it is the new KYC scheme by Indian government. KYC (Know your customer) is the process of verifying the identity and address of customer before allowing him/her to participate in a particular transaction and is an essential part of bank regulations in India.
Every individual or company performing any financial transactions in banks, mutual funds, insurance etc need to be cKYC compliant. cKYC system has become live from Feb 1, 2017 and henceforth all new investors in mutual funds or new accounts in banks need to do cKYC. Existing KYC compliant individuals don't have to do anything at this moment.