To block terrorists from funding themselves through banking channels KYC or Know Your Customer registration came into existence…
India being India , the aam admi was bound to suffer as kyc became a tool of govt to harass people and remind them of the license permit raj. People call it Kill your Customer thanks to bureaucracy and red tape and multiple times one needs to do kyc.
There is no centralization of KYC registration, banks do them on basis of every account one has.
You require to submit your 1. Identity Proof and 2. Residence Proof.
To check if ur KYC is updated please follow links by clicking on them
Mutual Fund Kyc is centralized thank god for that . CVL handles MF KYC .
For Demat accounts two agencies do KYC
The CDSL/CVL link deals with all kyc checks at the same time .