No. We will only verify your KYC status from the central repository to ensure that you are KYC compliant. It is a one-time activity and takes only a few minutes. Please complete your signup and get started with your investments. As per recent regulation by SEBI, the investors' KYC is required to be validated by Aadhar to invest in Mutual funds.
Whether you need to do KYC again depends on your current KYC status:
KYC Validated: No action is required.
KYC Registered or Verified: You can continue to make transactions in your existing mutual funds, but you are required to validate your KYC with Aadhar to invest in new schemes post 1st April 2024.
KYC On-Hold: You can't make any transactions until you redo KYC. You can also redo KYC registration using PAN and Aadhaar through XML, Digi-locker, or m-aadhaar. If you are registered with a driving licence, voter ID, or passport, you are required to validate your KYC with Aadhaar to be able to invest in any mutual fund.
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