CERSAI KYC Process Guide

What is CERSAI?

CERSAI stands for Central Registry of Securitisation Asset Reconstruction and Security Interest of India. It was set up by the Government of India to prevent fraud and maintain a centralized record of financial transactions and KYC data.

In 2016, CERSAI was also entrusted with managing CKYCR (Central KYC Records Registry), a central platform for KYC compliance across financial institutions.

What is CERSAI KYC?

CERSAI KYC refers to the centralized KYC registration and verification done through the CERSAI portal. This ensures that a person or business can use the same KYC across banks, NBFCs, mutual funds, insurance, and other financial entities without repeating the process.

• Why is CERSAI KYC Important?
• Avoids multiple KYC submissions
• Reduces risk of identity fraud
• Speeds up onboarding process in financial services
• Required for compliance with RBI and SEBI guidelines

Financial institutions are required by law to verify and upload KYC details to the CERSAI portal.

Who Needs to Complete CERSAI KYC?

• Individuals applying for loans, credit cards, mutual funds, or insurance
• Corporates or businesses opening bank accounts or investing
• NBFC borrowers
• Fintech users
• Any person engaging with a regulated financial institution

Documents Required for CERSAI KYC

For Individuals:

• PAN Card
• Aadhaar Card
• Passport-size Photograph
• Address Proof (if Aadhaar address is not current)
• Signature

For Entities/Companies:

• Certificate of Incorporation
• PAN of the company
• Address proof of business
• Board Resolution
• Identity proof of authorized signatories

How to Complete the CERSAI KYC Process

Here’s a step-by-step guide to completing your KYC via CERSAI:

• Step 1: Visit a KYC Registration Agency (KRA)
  You cannot directly submit KYC to CERSAI. You need to approach a financial institution (FI) like a bank, NBFC, mutual fund distributor, or fintech platform that is registered with CERSAI.
• Step 2: Fill KYC Form
  Ask for the KYC form from the institution or download it online. Fill in all personal or company details correctly.
• Step 3: Submit KYC Documents
  Submit all supporting documents mentioned above. Originals may be needed for verification.
• Step 4: KYC Verification
  The institution verifies your documents and identity through in-person verification (IPV) or video KYC.
• Step 5: Upload to CERSAI Portal
  The verified data is then uploaded to the CERSAI CKYC portal by the financial institution. You cannot upload it yourself.
• Step 6: Get CKYC Number
  Once the data is processed, a 14-digit CKYC number is generated. This number is used as a universal KYC reference across institutions.

Article source: https://article-realm.com/article/Finance/Personal-Finance/74797-CERSAI-KYC-Process-Guide.html