KYC - Know Your Customer

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Why is KYC important for Mutual Fund investments ?

All investors have to be KYC (Know your customer ) compliant irrespective of the value of their investments. It includes both individuals and non individuals. It is a one time process that an investor need to undergo. Subsequent investment with different AMC’s or intermediaries doesn’t call for KYC. In a case where there are any changes in the KYC details, a change request should be submitted and KYC need to be reverified.

KYC is primarily for establishing the proof of identity and address of the investor. This process is mandated by SEBI as required by the Anti Money laundering act.

How does it work ?

The investor has to submit the documents supporting their identity and address.

PAN – Permanent Account Number serves as proof of identity and has to be submitted for verification as a part of KYC process

Proof of address – There are a wide range of documents that are accepted as proof of address. It includes Passport, Voters Identity Card, Ration Card, Registered Lease or Sale Agreement of Residence, Driving License, Utility bills and Bank Account Statement/Passbook.

The above documents have to be submitted to AMC’s, KRA’s (KYC registration agencies) or your independent financial advisor along with the KYC form. An In Person Verification is done to establish the identity and address.

You can check your KYC status using the link below
https://www.cvlkra.com/

Understanding the Risks in Mutual Funds

“Mutual fund investments are subjected to market risks” is the statement that we constantly see or hear. Like any other investments, mutual funds investments are subjected...

Financial Freedom

Financial freedom means to lead your life without being dependent on anyone for money. There are 3 basic steps to achieve the same, Step 1: The...

  Never miss a story from , get updates in your inbox.
KYC - Know Your Customer

KYC - Know Your Customer

  Reading Time:

Why is KYC important for Mutual Fund investments ?

All investors have to be KYC (Know your customer ) compliant irrespective of the value of their investments. It includes both individuals and non individuals. It is a one time process that an investor need to undergo. Subsequent investment with different AMC’s or intermediaries doesn’t call for KYC. In a case where there are any changes in the KYC details, a change request should be submitted and KYC need to be reverified.

KYC is primarily for establishing the proof of identity and address of the investor. This process is mandated by SEBI as required by the Anti Money laundering act.

How does it work ?

The investor has to submit the documents supporting their identity and address.

PAN – Permanent Account Number serves as proof of identity and has to be submitted for verification as a part of KYC process

Proof of address – There are a wide range of documents that are accepted as proof of address. It includes Passport, Voters Identity Card, Ration Card, Registered Lease or Sale Agreement of Residence, Driving License, Utility bills and Bank Account Statement/Passbook.

The above documents have to be submitted to AMC’s, KRA’s (KYC registration agencies) or your independent financial advisor along with the KYC form. An In Person Verification is done to establish the identity and address.

You can check your KYC status using the link below
https://www.cvlkra.com/

Understanding the Risks in Mutual Funds

“Mutual fund investments are subjected to market risks” is the statement that we constantly see or hear. Like any other investments, mutual funds investments are subjected...

Financial Freedom

Financial freedom means to lead your life without being dependent on anyone for money. There are 3 basic steps to achieve the same, Step 1: The...

  Never miss a story from , get updates in your inbox.