What Is CKYC (Central KYC Registry) and How Does It Work?
The Central KYC Registry, commonly known as CKYC or CKYCR, is a centralised repository of KYC records maintained by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI). It was established under the provisions of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, as amended, with the objective of eliminating duplication of KYC processes across financial institutions. The fundamental idea is straightforward: once a customer completes KYC with any financial institution, the KYC record is uploaded to CERSAI, and any other institution can retrieve it using the customer's CKYC Identifier (a 14-digit number) without requiring the customer to submit documents again.
The CKYC process works in two phases. In the first phase, the originating institution (the one that initially onboarded the customer) completes full KYC, including identity verification, address verification, and document collection. The institution then uploads the KYC record, including the customer's photograph, identity proof, address proof, and other details, to the CKYC Registry via CERSAI's secure API or file upload mechanism. Each uploaded record is assigned a unique 14-digit CKYC Identifier (KIN), which is communicated to the customer.
In the second phase, when the customer approaches a different financial institution for a new product (say, opening a demat account after already having a bank account), the new institution can fetch the existing CKYC record using the customer's KIN, PAN, or other search parameters via CERSAI's API. If the CKYC record is current and contains all required information, the new institution may rely on it without requiring fresh document submission. However, the fetching institution is still responsible for verifying the customer's identity through its own internal processes and may choose to conduct additional due diligence if warranted by its risk assessment.
CKYC has been mandated by both the RBI (for banks, NBFCs, and payment system operators) and SEBI (for intermediaries such as stock brokers, mutual funds, and depositories). As of 2026, CERSAI reports over 70 crore CKYC records in the registry, covering a significant portion of India's banked population. However, the system is not without limitations. Data quality varies significantly across uploading institutions, records may be outdated if the originating institution has not updated them following a re-KYC, and the CKYC API can experience latency during peak hours. Understanding these limitations is essential when comparing CKYC to alternative methods like Video KYC.
What Is Video KYC (V-CIP) and How Does It Work?
Video KYC, formally known as the Video-based Customer Identification Process (V-CIP), was introduced by the RBI through its amendment to the Master Direction on KYC dated January 9, 2020. V-CIP allows Regulated Entities (REs) to perform live, audio-video interaction with customers for the purpose of identity verification, eliminating the need for a physical branch visit or an in-person verification (IPV). The process involves a trained agent of the RE conducting a video call with the customer, during which the customer's identity is verified against their Officially Valid Document (OVD), a liveness check is performed, and the entire session is recorded for audit purposes.
The V-CIP process is considerably more involved than a simple video call. The RBI requires that the session include real-time OVD verification (the customer must display the original document), PAN verification, liveness detection to ensure the person on the call is physically present (not a photograph or pre-recorded video), geo-location capture of both the agent and the customer, and end-to-end encryption of the session. The video recording must be stored securely and must be retrievable for regulatory inspection for a minimum of five years after the cessation of the business relationship.
V-CIP was initially designed for individual customer onboarding, but its scope has expanded significantly since 2020. It is now accepted by the RBI for opening savings accounts, current accounts, fixed deposits, loan accounts, and various other products. SEBI has adopted a parallel framework called Video In-Person Verification (VIPV) for securities market intermediaries. IRDAI has also permitted video-based KYC for insurance policy issuance. This cross-sectoral adoption has made V-CIP one of the most widely used digital KYC methods in India.
The key advantage of V-CIP over other digital KYC methods is that it constitutes full KYC (equivalent to in-person verification) rather than a simplified or limited-purpose KYC. This means that accounts opened through V-CIP are not subject to the transaction limits that apply to accounts opened through Aadhaar eKYC or simplified due diligence. The customer gets the same functionality as if they had visited a branch in person, which makes V-CIP particularly valuable for high-value products and customer segments that require unrestricted account functionality.
Head-to-Head Comparison: Speed, Cost, Compliance, Coverage
When comparing CKYC fetch and Video KYC on speed, CKYC has a clear advantage for customers who already have a record in the registry. A CKYC fetch via API typically completes in under 30 seconds, providing the institution with the customer's verified identity details almost instantly. Video KYC, by contrast, requires scheduling a video call, conducting the session (which typically takes 5 to 15 minutes), and then completing the maker-checker review process, which can add another few hours to a day. For institutions processing high volumes, this difference in turnaround time is significant.
On cost, the comparison is more nuanced. CKYC fetch incurs a per-transaction fee charged by CERSAI, which is currently in the range of INR 5 to INR 25 per fetch depending on the type of search and the institution's agreement with CERSAI. Video KYC is more expensive on a per-session basis because it requires agent time (typically 10 to 15 minutes per call), technology infrastructure (video platform, AI tools, storage for recordings), and checker review time. Industry estimates place the fully loaded cost of a V-CIP session at INR 50 to INR 200 per customer, depending on the platform used and the institution's operational efficiency.
From a compliance perspective, both methods are recognised by the RBI for full KYC, but with different caveats. CKYC is essentially a data transfer mechanism; it relies on the original KYC having been performed correctly by the uploading institution. If the original KYC was flawed (for instance, if the OVD was forged or the in-person verification was not properly conducted), the fetching institution inherits that risk. Video KYC, by contrast, is a fresh, independent verification performed by the fetching institution itself, which means the institution has full control over the quality and integrity of the process.
Coverage is perhaps the most critical differentiator. CKYC is only useful if the customer already has a KYC record in the registry. For first-time financial services customers, new-to-bank customers, or customers whose CKYC records are outdated or incomplete, CKYC fetch will either fail or return insufficient data. Video KYC works for any customer, regardless of their existing banking history, as long as they have a valid OVD and access to a smartphone or computer with a camera. This makes V-CIP the essential method for greenfield customer acquisition, while CKYC is most effective for cross-selling to existing financial services users.
When CKYC Fetch Is Enough vs When Video KYC Is Mandatory
CKYC fetch is typically sufficient for low-risk, routine account openings where the customer already has an established financial services relationship. For example, if a customer with an existing savings account at Bank A wants to open a demat account with Broker B, the broker can fetch the CKYC record and, subject to its own risk assessment, rely on it for onboarding. Similarly, mutual fund distributors, insurance companies, and NBFCs routinely use CKYC fetch for customers who already have a KIN. The key requirement is that the fetched CKYC record must be current (not older than 2 years for low-risk customers or as prescribed by the institution's KYC policy) and must contain all the data fields required by the fetching institution.
Video KYC becomes necessary or preferred in several scenarios. First, when the customer does not have a CKYC record at all, which is common for new-to-bank customers, rural populations, and younger demographics opening their first financial account. Second, when the CKYC record is stale or incomplete, perhaps because the uploading institution did not update it during re-KYC. Third, when the institution's risk assessment demands a higher level of assurance than a data fetch can provide, for instance, for high-value accounts, Politically Exposed Persons (PEPs), or customers from high-risk jurisdictions.
There are also specific regulatory scenarios where V-CIP is explicitly required. The RBI's Master Direction mandates that for certain types of accounts, such as those involving higher transaction limits or specific product categories, the RE must conduct its own customer identification process, which may include V-CIP. SEBI's framework similarly requires that for certain categories of investors, particularly those opening margin trading accounts or those categorised as high-risk, the intermediary must perform independent verification beyond a CKYC fetch.
In practice, many institutions use a tiered approach. For straightforward, low-risk onboarding where a valid CKYC record exists, they rely on the CKYC fetch and supplement it with a PAN verification and a simple selfie-based check. For higher-risk scenarios or where CKYC data is unavailable, they escalate to Video KYC. This risk-based approach aligns with the spirit of the RBI's KYC framework, which encourages institutions to calibrate their due diligence measures to the level of risk associated with each customer and product.
Using CKYC + Video KYC Together: The Hybrid Approach
The most effective KYC strategy for many institutions is not an either-or choice between CKYC and Video KYC but a hybrid approach that leverages the strengths of both. In this model, the institution first attempts a CKYC fetch for every new customer. If the fetch returns a valid, current record with all required data fields, the institution can proceed with a lightweight verification (such as OTP-based Aadhaar authentication or a quick PAN check) and complete onboarding rapidly. This path is fast, inexpensive, and works well for the majority of customers who already have a financial services footprint.
If the CKYC fetch fails, returns an incomplete record, or if the customer falls into a higher-risk category, the system automatically routes the customer to the Video KYC flow. This fallback ensures that no customer is turned away simply because they lack a CKYC record, while also ensuring that the institution maintains high compliance standards for all onboarding. The transition between the two flows should be seamless from the customer's perspective; ideally, the customer does not even need to understand the difference between the two processes.
The hybrid approach also creates a virtuous cycle for the CKYC ecosystem. When a customer is onboarded through Video KYC (because their CKYC record was missing or outdated), the institution uploads the fresh KYC record to CERSAI, enriching the central registry. This means that the next institution that performs a CKYC fetch for the same customer will find a current, complete record. Over time, as more institutions adopt this approach, the quality and coverage of the CKYC registry improves, reducing the proportion of customers who need to go through the more expensive Video KYC process.
From an operational standpoint, the hybrid model requires a well-designed decision engine that determines the appropriate KYC path based on factors such as CKYC data availability, data freshness, risk score, product type, and regulatory requirements. This decision engine should operate in real time, ideally making the routing decision within seconds of the customer initiating the onboarding process. Institutions that implement this well report significant improvements in both onboarding speed (since the majority of customers can be onboarded via the fast CKYC path) and compliance coverage (since every customer is verified through an appropriate method).
Regulatory Position: RBI and SEBI Stance on CKYC vs V-CIP
The RBI's Master Direction on Know Your Customer (updated 2024) treats both CKYC and V-CIP as valid methods for fulfilling KYC obligations, but positions them differently within the compliance framework. CKYC is presented as a mechanism for interoperability and efficiency, reducing the burden on both customers and institutions by enabling data reuse. V-CIP is positioned as a digital equivalent of in-person verification, providing a full KYC capability that can replace the traditional branch visit. The RBI has not expressed a preference for one method over the other; instead, it expects institutions to use appropriate methods based on their risk assessment.
The RBI's circular on CKYC (RBI/2016-17/49, dated August 18, 2016) mandated all REs to upload KYC data to CERSAI and to search the CKYC registry before initiating a fresh KYC process for any new customer. This effectively makes CKYC search a mandatory first step in the onboarding process. However, the RBI has also clarified that a CKYC fetch does not absolve the RE of its responsibility to independently verify the customer's identity to the extent required by its internal KYC policy and risk categorisation.
SEBI's position, articulated through the KYC Registration Agency (KRA) framework and the Master Circular for Intermediaries (SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2024/2), similarly recognises both CKYC and VIPV (Video In-Person Verification, SEBI's equivalent of V-CIP). SEBI mandates that intermediaries perform a CKYC search as part of their onboarding process and upload KYC records to the KRA. For VIPV, SEBI has prescribed detailed guidelines on the process, including the requirement for liveness detection, document verification, and recording of the session.
Both regulators have been careful to avoid positioning CKYC and V-CIP as substitutes for each other. Rather, they see them as complementary tools in the KYC toolkit. CKYC addresses the efficiency problem (reducing redundant KYC processes), while V-CIP addresses the accessibility problem (enabling KYC without physical presence). Institutions that understand this complementary relationship and design their processes accordingly are best positioned to meet regulatory expectations while delivering a superior customer experience.
How BaseKYC Integrates Both CKYC Fetch and Video KYC
BaseKYC provides a unified platform that seamlessly integrates both CKYC fetch and Video KYC into a single onboarding workflow. When a new customer initiates the onboarding process, the platform automatically performs a CKYC search using the customer's PAN or other identifiers via CERSAI's API. If a valid, current CKYC record is found, the system pre-populates the customer's details and presents the institution's compliance team with the fetched data for review and acceptance. This path can complete onboarding in under two minutes.
When the CKYC fetch does not return a usable result, or when the institution's risk engine determines that a higher level of verification is needed, BaseKYC seamlessly transitions the customer to the V-CIP flow. The customer receives a notification to join a video call, and the platform's guided agent interface ensures that the V-CIP session covers all required steps: OVD verification, PAN check, liveness detection, and geo-location capture. The entire process is designed so that the customer experiences a smooth, uninterrupted journey regardless of which verification path is used.
BaseKYC's API layer supports both CKYC and V-CIP, allowing institutions to integrate the platform into their existing customer onboarding systems with minimal development effort. The APIs follow RESTful conventions and include comprehensive webhooks for status updates, so the institution's systems are always aware of the current state of each customer's KYC process. Whether the customer was verified through CKYC fetch, Video KYC, or a combination of both, the output is a standardised KYC record that can be consumed by downstream systems.
After successful verification through either path, BaseKYC automatically uploads the KYC record to CERSAI (for CKYC) and generates the complete audit trail required by the RBI and SEBI. The platform's dashboard provides real-time visibility into the mix of CKYC vs Video KYC verifications, conversion rates for each path, average processing times, and compliance metrics. This data enables institutions to continuously optimise their KYC strategy, identify bottlenecks, and make informed decisions about resource allocation between their CKYC and V-CIP operations.