CKYC Intimation

2 days ago I have received a CKYC intimation. Has this been sent to everyone ?

Asking because I joined Zerodha a little over a month ago and had submitted all required documents.

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CKYC is now mandatory if you want to have any account in financial world., Bank, demat, mutual fund etc

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I do not clearly get about what are people talking in that topic, but I can tell you that I do know that some people really put something like for example this service like KYC - i.e. know your customer where you need to provide all personal data, but what is CKYC ?

CKYC = Central KYC.

Now the rule is that once your KYC is done by any SEBI registered intermediary, you dont need to KYC again. But often you will see everyone asking for the same documents again and again.

SEBI intermediaries fetch KYC from central KYC to keep their own records or verify details. If details dont match KYC can be suspended.

Only Mutual fund under SEBI took data from KRA not sure of ckyc. Brokers never took data from KRA.
I had updated my KYC in KRA. MFs unpdated the information from KRA. But Zerodha and DP asked me to again submit the same data and fill the form. What is the use of KRA then.
CKYC is the reinvention of wheel. KRA were already doing that part. But bureaucrats decided to create a new agency to do the same work. Now here we are doing kyc when it is actually reKYC. Same shit over and over again.
If cKYC is already done then why are they asking for the same documents.

There is a cost to fetch KYC - thats why sometimes to avoid that cost people make you redo KYC :slight_smile:

Has everyone here in this thread received the ckyc email ?

Cost is 0.8 to 1.15INR. That is way too cheap.