CERSAI

Easing the paperless on-boarding process further, pension fund regulator PFRDA on Monday said that documentation for joining its scheme can be furnished through the government's Central KYC (CYC). Central KYC (CKYC) is the government's initiative which allows users to complete their KYC (know your customer) only once for interacting with multiple service providers across the financial sector falling under various regulators. The Pension Fund Regulatory and Development Authority (PFRDA) already facilitates digital onboarding for its pension schemes under National Pension System (NPS) through documents issued via Digilocker, Aadhaar eKYC, PAN or bank account details. In the series of various digital initiatives as part of Azadi Ka Amrit Mahotsav (AKAM) to mark 75 years of India's Independence, PFRDA said the prospective subscribers are provided with another option for opening NPS Account through CKYC which is online and paperless. CKYC is managed by the Central Registry of ...

There has been exponential growth in P2P lending in recent years

When you change your address or carry out any other KYC formality with one entity (say, your bank), this information should spread to ­all entities

The move is aimed at ensuring uniform KYC process and inter-usability of KYC records across the entire financial sector