Index Fund Corner
Sponsored
| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
What is masked KYC?
Masked KYC involves hiding sensitive details in customer records shared via CKYCRR. Instead of displaying the full KYC identifier, only the last four digits will be visible.
This will protect individual privacy and reduce the risk of unauthorised access.
Reporting entities will still be able to access full KYC records using a CKYC Reference ID, which is unique to each record.
Why the extension?
Initially scheduled for December 16, 2024, CKYC revised the implementation timeline after requests from various reporting entities.
The extra time allows these entities to update their systems and comply with the changes.
However, CKYC has clarified that no further extensions will be granted.
Key changes introduced
- Only the last four digits of KYC identifiers will be shown in search responses and match confirmations.
- Reporting entities must use this new unique identifier for downloading complete KYC records.
- Access to records will require authentication factors and unique IP addresses.
Impact on reporting entities
The masking of KYC identifiers will impact all CKYC processes, including search requests, responses, and bulk file uploads.
Entities have been advised to test these changes in the CKYCRR test environment and prepare their systems before the new deadline.
What’s next?
From January 20, 2025, CKYC will transition to this masked KYC framework.
The government’s move is part of broader efforts to enhance the security of customer data and prevent misuse by unauthorised entities.
First Published: Dec 20, 2024 3:13 PM IST
