According to a recent regulation from SEBI, it is now mandatory to have your KYC registered with Aadhaar to conduct transactions in Mutual funds.
Kindly find the different types of KYC status:
1. KYC Validated : The customer’s KYC is registered with Aadhar card and the contact details are validated.
2. KYC registered:
a. The customer’s KYC is registered with Non-OVD documents like bank statement, utility bill, rental agreement.
b. The customer's KYC is registered with Aadhaar but the contact details are not validated.
c. The customer's KYC is registered with Non Aadhar OVD documents like Driving License, Voter ID, and Passport
KYC will be active in the below scenarios and the transactions will be processed seamlessly
1. KYC is validated
2. KYC registered with DL, Voter ID or Passport, can transact in Mutual funds that are invested before 1st April 2024.
Modification required for the below-mentioned KYCs :
1. If the KYC status is on hold or rejected, the KYC needs to be modified with Aadhar.
2. If the KYC is registered with DL, Voter ID or Passport, It is advised to complete the KYC online by submitting your Aadhaar as OVD proof, and giving a valid email id and mobile so that you can invest with any mutual funds in future.
In case it is not an Aadhaar-based KYC, you will have to submit the KYC documents every time you approach a new Mutual Fund for investment.
It is advised to complete the KYC online by submitting your Aadhaar as OVD proof, giving valid email id and mobile so that you can invest with any mutual funds in future.
Aadhaar-based: In case it is not an Aadhaar based KYC, you will have to submit the KYC documents every time you approach a new Mutual Fund for investment.
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