What is the full form of CIF?

What is the full form of CIF?

The full form of CIF is Customer Information File. A customer information file (CIF) is an electronic or digital file that stores all important information about a customer’s personal and account information. The customer information file (CIF), which contains a CIF number, allows the business to view its customer accounts by relationship and not strictly by account type. The CIF number is an 11 digit number representing the file, It is unique for every customer.

All the customer’s accounts are linked to the one CIF number given to the customer. So even if you have more than one account, you will have only one CIF number. This includes details regarding loans, demat, etc. It also includes all your KYC details like identity details, address details, and a photo ID. Hence it helps the bank to view all your accounts’ information easily in one place. The CIF is also used to cross-sell various products and services to customers, and to assist in other administrative functions.

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