As of August 1, 2026, opening a bank account, purchasing an insurance policy, or investing through any platform has become easier due to significant changes in the KYC process. Central KYC (CKYC) 2.0 has been implemented from this date. You will no longer need to submit your PAN card, Aadhaar card, or proof of address every single time. Under this system, verified KYC information can be reused across various financial institutions. It is expected that mutual funds, brokers, and other market intermediaries will gradually adopt this framework as well.
What is Central KYC (CKYC) 2.0?
Under CKYC 2.0, customers do not need to start the KYC process from scratch every time they approach a new financial institution. The new system transforms KYC from a process requiring repeated document submission into a consent-based verification process. Essentially, there is a centralized data center where your essential information—such as Aadhaar and PAN details—is stored. Once a customer’s KYC record is saved in the central registry, they only need to share their 14-digit CKYC number. Upon sharing the OTP received on your mobile, the relevant institution can verify all identity-related documents through this system. The introduction of CKYC 2.0 reduces the need for repeated document uploads for customers engaging in banking, insurance, or investment activities.
How to register for CKYC 2.0
You do not need to take any action if your data is already on the existing KYC server. Unless you have never opened a bank account or purchased a policy, your 14-digit CKYC number is likely already in the system. Your bank or insurance company would have shared this number with you. If you cannot find it, you can check your banking or insurance app. Alternatively, you can retrieve it by giving a missed call to the CKYC mobile number 7799022129 or by downloading it from DigiLocker. From August onwards, sharing this single number when opening any new account will eliminate the need to submit multiple documents.
Keep two things in mind. First, CKYC only verifies your identity; processes such as declarations, nominations, risk profiling, and bank mandates for banking or insurance policies will remain unchanged. Second, the mobile number used across all documents must be the same and must be registered.
