"To study and analyze the implementation and effectiveness of the Central KYC system in streamlining customer identification across financial institutions, reducing duplication, and enhancing regulatory compliance."
Understanding CKYC Framework Study the concept, objectives, and regulatory guidelines of CKYC introduced by the Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI).
Literature Review Review existing documentation, RBI guidelines, and research papers on KYC and CKYC processes.
Comparative Analysis Compare traditional KYC vs CKYC – highlighting benefits, challenges, and process differences.
Stakeholder Analysis Identify stakeholders (banks, NBFCs, regulators, customers) and understand their roles in CKYC.
Process Mapping Create a flowchart or visual map of the CKYC process from customer onboarding to data storage.
Data Collection Conduct interviews/surveys with bank officials or use secondary data to understand on-ground challenges and adoption status.
Gap Analysis Identify gaps in implementation, customer awareness, and data security aspects.
Technology & Compliance Review Study the technology used (CKYC registry, customer identifier - KIN) and how it supports compliance.
Suggestions & Improvements Recommend ways to improve efficiency, awareness, and security in CKYC implementation.
Report Preparation & Presentation Compile findings, insights, and recommendations into a structured project report and presentation
