Have You Checked Your KYC Status?

-
Have You Checked Your KYC Status?

Over the past month, several mutual fund investors would have received a mail from their fund house to update their Know-Your-Customer (KYC) details. In September, the Association of Mutual Funds in India (AMFI) directed AMCs to adhere to the following requirements for individual investors from 1 November 2015:

1. Make it mandatory for all new investors to provide additional KYC details such as income details, occupation, net worth, political association, etc.

2. Not accept purchase and switch transactions for investors whose status is "KYC-On Hold", unless the investor submits the missing information or updates KYC.

3. Ensure that new investors submit Foreign Account Tax Compliance Act (FATCA) or Common Reporting Standard (CRS) declaration while opening an account.

By 31 December 2015, fund houses are advised to make it mandatory for existing investors to provide the missing details above and complete IPV (In-Person Verification). Failing these parameters, all purchase and switch transactions of the investor will be rejected. Will you be affected?

Check your KYC Status online

You can check your KYC status by visiting the website of any of the below KYC Registration Agencies (KRAs) and submitting your PAN number.

CAMS KRA - https://camskra.com/

CDSL KRA - https://www.cvlkra.com/

KARVY KRA - http://www.karvykra.com/

NDML KRA - https://kra.ndml.in/

NSE KRA -https://www.nsekra.com/Launch/kra_index.aspx

What does the status mean?

KYC Registered - The record is registered with KRA as per the Uniform Know Your Client (KYC) Requirements for the Securities Markets. This is nothing to be done.

Under Process - KRA has accepted KYC record for processing as per the Uniform Know Your Client (KYC) Requirements for the Securities Markets. The verification of KYC is under process at the KRA. There is nothing to be done

On Hold- KYC kept on hold due to discrepancy in KYC documents. Deficient documents need to be submitted

KYC Rejected – The KRA has rejected the KYC record after verification of PAN with other KRAs since such PAN is available with other KRA.

Not Available - The KYC record is not available in any KRAs.

Under Process - Incomplete/ Existing / Old KYC - This KYC record is incomplete and needs to be updated for missing information. Fresh KYC documents need to be submitted.

KYC Registered - Incomplete / Existing / Old KYC Record - This KYC record is incomplete and needs to be updated for missing information. Fresh KYC documents need to be submitted.

On Hold - Incomplete / Existing / Old KYC Record - KYC kept on hold due to discrepancy in KYC documents. Fresh KYC documents need to be submitted.

KYC Rejected - Incomplete / Existing / Old KYC Record - KRA has rejected the KYC record after verification of PAN with other KRAs since such PAN is available with other KRA. Fresh KYC documents need to be submitted.
Sent from BlackBerry® on Airtel

Comments

Post a Comment

You are requested to mentioned your full name with email id while commenting.




I would like to request you to join our following services.
It is the smartest way to stay on top of latest Mutual fund, Bonds & IPO News .

 Product Updates on whatsapp


 Product Updates on Email 

                                                   
 Product Updates on Telegram



You will get daily news updates for FREE. 
I also request you to spread the world by referring us to the smartest people you know.  

To share it with your friends, 
just Copy below message it & paste in your group

Subscribe to Our WhatsApp, Email & Telegram Update Service ! https://bit.ly/3ryhxBM
     

Popular Posts

FinMin to give in-principle approval for UTI Mutual Fund IPO soon

-
FinMin to give in-principle approval for UTI Mutual Fund IPO soon Country's oldest fund house UTI Mutual Fund may revive its initial public offer (IPO) plan after Finance Ministry's nod which is expected soon. "There is proposal for IPO of UTI Mutual Fund and the Finance Ministry is looking at it. The Ministry after consideration can give in-principle approval for public offer," sources said. Government has stake in the UTI Mutual Fund through public sector banks and insurance companies. State Bank of India, Punjab National Bank, Bank of Baroda and LIC holding stake in UTI Mutual Fund on behalf of government of India. State Bank of India, Punjab National Bank, Bank of Baroda and LIC jointly owns 74 per cent stake in the fund house while remaining 26 per cent stake is with the US-based investment firm T Rowe Price. In 2008, UTI Asset Management Company deferred its IPO ownin g to uncertain market conditions. The fund house had proposed to sell 4.8 cror...
Read more

Key Trigger Points for Market

-
All eyes in the market will be on Friday's nonfarm payrolls data, which will provide new clues on how well the US economy is recovering and how fast the Federal Reserve might unwind its stimulus programme, which it began to taper last month, and how long it will keep its interest rates low. Before Friday's jobs report, investors will focus on the minutes of the Fed's December policy meeting {for insights on the voting members' stance on the bond-buying programme, known as quantitative easing } ,due out on Jan 8 thursday. India will release November factory output on January 10, the first important data ahead of the Reserve Bank of India's monetary policy review on January 28. Industrial output data, IIP, will be followed by the more important December consumer and wholesale inflation data in the week starting Monday, January 13, amid widespread expectations food prices have substantially eased last month. Thanking you Regards, Rajesh Kumar Kathpalia...
Read more

Reliance Mutual Fund lowest bidder for managing NPS

-
Reliance Mutual Fund lowest bidder for managing NPS MUMBAI: Reliance Mutual Fund has emerged as the lowest bidder among the fund managers qualified to manage funds in National Pension Scheme (NPS) for private sector on behalf of the sector regulator PFRDA. Its bid of 1 paise for every Rs 100 worth of NPS funds was way below the other nine bidders, which included UTIMF, DSP Blackrock MF and HDFC Pension Fund Management, a wholly-owned subsidiary of HDFC Standard Life. Bids by all the other nine entities were between 15 paise and 25 paise per Rs 100 worth of funds, sources said. In the next stage, according to PFRDA's request for proposal for bids that was published earlier, all the bidders who bid higher than Reliance MF, will be asked to match the lowest bid, that is Reliance MF's. The fund managers who finally qualify under this round of bidding will manage NPS funds of between Rs 500 crore and Rs 1,000 crore, sources said. Industry players, however, said that Relianc...
Read more