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KYC CORNER
KYC Changes from Apr 01 2024
As per the latest regulations effective 01 April 24 an Existing Customer with a Mutual fund would be able to transact freely with a “KYC Registered” status. For a new customer to a Mutual fund either Re-KYC with one of the officially valid document or Aadhar based KYC as a one-time activity needs to be done. Also note, if Re-KYC with any other officially valid documents apart from Aadhar will result in the customer re-doing it every time he invests with a new Mutual fund.
Hence, it is recommended that you do KYC using Aadhar as a one-time activity so that you can transact freely in the mutual fund of your choice as Aadhar is the Universally accepted officially valid document.
KYC Status
| KYC Status | Investments in Existing MF | Investments in New MF | Remediation |
|---|---|---|---|
| KYC Validated | No Impact | No Impact | Not Required |
| KYC Registered | No Impact | Allowed, Fresh set of KYC documents to be submitted every time, investing in a new MF | Investor can do a re-kyc using Aadhaar as OVD (Officially Valid Document) to remediate the status to KYC VALIDATED for seamless transactions in securities market. |
| KYC On Hold / KYC Rejected | Transactions will not be allowed | Transactions will not be allowed | Investor should ensure to do the following to change the status to Registered |
The KRAs have changed the KYC status of all existing KYC complied investors after validating above 4 attributes such as PAN, Name and Address with the official database (such as Income Tax database on PAN, Aadhar XML/DigiLocker/M-Aadhaar) and Email ID/Mobile number (where provided). The status will be either KYC Validated, KYC Registered or KYC On Hold.
To check your current KYC status, please visit the links provided below:
FAQs
Find clear Answers to Your Burning questions
These FAQs are prepared with a view to guide market participants on KYC norms for the securities market. For full particulars of law governing KYC norms, please refer to the PMLA and Rules framed thereunder and to the Acts / Regulations/ Guidelines / Master Circular / Circulars, etc. appearing in the Legal Framework section of SEBI website at www.sebi.gov.in.
Enter Your PAN
Instructions
Upload Required Documents for Verification:
You have to upload relevant documents – PAN, Address proof (Aadhaar/Passport/Driving License/Voter ID), Bank Cheque copy, Signature, Live video/Live photo capture of self.
Allow Camera for Video Recording:
Please grant permission to access the camera to facilitate the video recording.
