KRA and CKYC: what they are and how they differ
Your mutual fund KYC sits with a KYC registration agency. A copy also sits in the Central KYC registry, which gives you a 14-digit number that banks and insurers recognise.
Updated 23 Oct 2026 · 2 min read
When you complete KYC, your details are kept in two registries. Each works under rules set by the government or a regulator, and neither charges you anything.
The KRA: KYC for the securities market
A KYC registration agency (KRA) is registered with SEBI and keeps the KYC records of investors in the securities market: mutual funds, shares, demat accounts and portfolio managers. There are five:
- CVL (CDSL Ventures)
- NDML (NSDL Database Management)
- CAMS KRA
- KFintech KRA
- DotEx (part of NSE)
The five share their records, so KYC done through one fund house or broker is found by every other. The KRA record carries your KYC status: Validated, Registered, On Hold or Rejected. What your KYC status means explains each.
CKYC: one KYC across financial services
The Central KYC Records Registry is run by CERSAI, a body set up by the government. Banks, insurers, pension funds, NBFCs and securities market firms upload the KYC they collect to it. When your record is created, CERSAI sends you a 14-digit KYC Identification Number (KIN) by SMS and email. See CKYC.
The aim is that you prove who you are once for all of finance. A bank or insurer can fetch your CKYC record, with your consent, instead of asking for the documents again.
How the two differ
| KRA | CKYC | |
|---|---|---|
| Run by | Five agencies registered with SEBI | CERSAI |
| Covers | Mutual funds, shares and demat accounts | Banks, insurance, pensions, NBFCs and the securities market |
| Looked up by | Your PAN | Your KIN, or your PAN |
| Shows | Your KYC status | Your KYC details |
Which one mutual funds check
For mutual funds, the record that counts is the one with the KRAs. A fund house looks up your PAN there, and a new purchase goes through only when the status is Validated or Registered.
A CKYC record on its own, from a bank account or an insurance policy, does not make you ready to invest in mutual funds. It can make KYC quicker: where a fund house or KRA can fetch your details from the CKYC registry, quoting your KIN saves sending the same documents again. You still complete the steps in how to complete mutual fund KYC that they ask for.
Finding your KIN
- Look for the SMS or email from CERSAI sent when your record was created. It often arrives after you open a bank account or buy an insurance policy.
- Ask your bank or insurer. They can look the number up against your record.
Keeping your details current
Change your address, mobile or email through a KRA or a fund house, as how to change your bank, address or mobile describes. Firms that receive a change in your KYC details are required to update the CKYC registry as well.
Questions
Is CKYC the same as mutual fund KYC?
No. Mutual fund KYC is the record with a KRA, which fund houses check before a purchase. CKYC is a central copy used across banking, insurance and the securities market. Most investors have both.
Do I have to do KYC twice, once for each?
No. KYC done through a fund house, a registrar or a KRA is usually uploaded to the CKYC registry as well, so one process creates both records.
Can I invest with just my KIN?
Your KIN can save you sending documents, but a purchase goes through only when your KYC shows as Validated or Registered with the KRAs.
Each fund page has its returns, risk, costs, managers and everything it holds.
This guide explains how things work. It is not investment, tax or legal advice. Rules change; check the fund house's documents, and a qualified adviser for your own case.