CKYC 2.0 to come into effect from August! The process of opening accounts and investing will change completely..

Accessing financial services in India is set to become easier than ever before. The government and financial regulators are preparing to implement the Central Know Your Customer 2.0 (CKYC 2.0) system. It will launch with banks and insurance companies in August, with mutual funds and brokerage firms joining later. Under this new system, customers will no longer need to repeatedly submit KYC documents every time they purchase a new financial product or open an account.

**Rollout in banks and insurance companies begins in August**