The Central Know Your Customer (C-KYC ) system unveiled by the government last year to unify KYC data across all financial regulators (RBI, SEBI, IRDA and PFRDA) seems a distant reality as it is being implemented at a slower-than-envisaged rate due to issues related to automation, process gaps and resolution of queries.
Mandated to be maintained by the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), the lack of an application programming interface (called API) with the C-KYC system is making life difficult for SEBI-registered KYC registration agencies to upload data manually.
