Now, completing know-your-customer (KYC) requirement with one financial institution will be good enough for opening an account with any bank, mutual fund, insurance company, broker, or New Pension Scheme.

The financial sector regulators – Reserve Bank of India (RBI), Securities and Exchange Board of India (Sebi) and Insurance Regulatory and Development Authority of India (Irdai) – have introduced a common KYC form and have asked companies in their domain to upload this data with a central agency - Central Registry of Securitisation Asset Reconstruction and Security Interest of ...