The Pension Fund Regulatory and Development Authority (PFRDA) on Monday (November 14) said that prospective subscribers can now open National Pension System (NPS) accounts through Central KYC (CKYC). The onboarding through CKYC will be online and paperless.
CKYC is a Government initiative to empower NPS Subscribers/financial investors to complete their KYC only once for interacting with multiple service providers across the financial sector under the ambit of various Regulators. CKYC eases the process of opening an account with financial service providers and unburdens the investors from producing KYC documents and getting those verified every time.
The CKYC is managed by CERSAI (Central Registry of Securitization Asset Reconstruction and Security Interest of India), which is an authorized entity of the Government of India to function as the Central KYC Registry (CKYCR). This centralized repository keeps KYC records of investors in the financial sector and facilitates the inter-usability of the KYC records across the sector with their due consent.
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How CKYC works
After completion of CKYC formalities, users are provided with CKYC Identification Number, which is a 14-digit number allotted by CERSAI. Users can check their CKYC number/status online by visiting the web portal of the financial institutions providing a CKYC check facility, PFRDA said. Users may also approach the financial institutions where they provided their CKYC documents to obtain the number.
How to open NPS account with CKYC
Step 1: Enter subscriber details on the registration page on http://www.camsnps.com.
a. First name
c. Date of Birth
d. Email ID
e. Mobile number (linked with KYC/ Aadhaar)
Step 2: Select ‘Open New Account’.
Step 3: Enter OTP received on your mobile. Also, enter the OTP received in your email.
Step 4: The portal will now check your PAN, Date of Brith, email and mobile number with CKYC. If PAN, DOB and email / mobile number matches, then subscriber’s KYC details available will be displayed as a pop up on the screen.
To proceed with the details available in CKYC, you can select ‘Yes’ and proceed. Else select ‘No’ and choose eKYC as the other KYC option. Once online KYC is completed, KYC status will display ‘verified’.
Step 5: Your online KYC is now complete. KYC status will now display as “verified”. You can now slect applicant type and status and proceed.
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Step 6: The subscriber’s name will populate against the Name field as available in CKYC and is un-editable.
- The date of Birth will be as per CKYC and is un-editable.
- Father’s name, Mother’s name, and Gender if available in CKYC will populate against the respective field and is editable.
- The subscriber’s address as available in CKYC will populate against the address field and is un-editable.
Once all the mandatory data has been entered, the subscriber can select the ‘Save Details’ button and proceed with generating an Acknowledgement number.
Step 7: The acknowledgement number is generated and sent to the subscriber by way of SMS and email. Subscribers can also download a copy of the receipt.
Step 8: The subscriber’s photo available from CKYC will be auto-populated and is un- editable. The subscriber’s signature available from CKYC will be auto-populated and is editable.