CIF number stands for Customer Identification File Number and is 11 digit number which helps the bank to store all the personal information and account related information related to their customers.
It holds very important role in modern day banking system as it helps the bank in functioning by way of assistance with all important information.
Understanding Customer Identification File
CIF is an acronym for Customer Identification File. It is one-of-a-kind number associated with a computerized file that includes all of the bank's customer's personal and account-related information. The digital file also known as CIF is represented by an 11-digit number. This file contains information about the customer's loans and Demat accounts. It also contains his KYC information.
CIF - Other Points
This number is printed by banks on the passbook. This number can also be accessed through ATM as well.
CIF is sharable with only select people i.e. the bank and the account holder and nominees.
It ensures that there is no mistake or fraudulent activity as this number is specific to each customer
Often used as a marketing tool for new products and offers by commercial banks.
CIF can be used by the account holders to collect information from online portals, passbooks.
The digital file also known as CIF is represented by an 11-digit number.
Banks provide toll-free numbers where you can call and follow their guidelines to know your Customer Information File number.
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