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​​​​​FAQ's on KYC Process change

Q1. What is KYC change from 01st April 2024?

Based on SEBI circular SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated 11th August 2023, KYC Registration Agencies (KRAs) have reviewed the details of existing KYC records like PAN, Name, Address and clients email ID and mobile number and updated the KYC status to “Registered”.

However, if any KYC attributes could not be verified, the current KYC status would change to Hold/ Rejected and need a change.

Q2. How do I check my KYC Status?

Please click the KRA site from the links and options given, input your PAN, and submit to see your KYC Status with the details of the proof you have submitted for your KYC.

Website address Links Option
CVL KRA https://www.cvlkra.com/ KYC Enquiry
CAMS KRA https://www.camskra.com/ My KYC Status
NSDL KRA https://kra.ndml.in/kra-eb/jsps/pos/KYCClientInquiry_NEW.jsp Inquiry on KYC
NSE KRA https://www.nsekra.com/ KYC Inquiry
KARVY KRA https://www.karvykra.com/UPanSearchGlobalWithPanExempt.aspx KYC Enquiry

Q3. How will the change in KYC status impact investments and remediation?

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
1) to complete PAN Aadhaar Seeding
2) update email id / mobile and validate
3) re-submit the pending documents to KRA

Investors are suggested to do a re-kyc using Aadhaar ( Preferably QR readable) as OVD (Officially Valid Document) to remediate the status to KYC VALIDATED for seamless transactions in securities market

Q4. Which documents are currently classified as Officially Valid Document (OVD) for KYC purposes?

1.Passport

2.Driving License

3.Proof of possession of Aadhaar number

4.Voter’s Id issued by Election Commission of India

5.Job Card issued by NREGA duly signed by an officer of the State Government

6.Letter issued by the National Population Register containing details of name, address;

Q5. How do i update/ modify my KYC or how do I change the KYC status from Registered to Validated online?

Please visit us at https://mf.nipponindiaim.com

Link- Modify KYC (https://investeasy.nipponindiaim.com/Emandate/KYCModification/Index)

Q6. How can I validate my contact details registered in KYC records?

You can visit following KRA sites for validating your contact details

Website address Links
CVL KRA https://validate.cvlindia.com/CVLKRAVerification_V1/
CAMS KRA https://www.camskra.com/PanDetailsUpdate.aspx
NSDL KRA https://kra.ndml.in/ClientInitiatedKYC-webApp/#/ClientinitiatedKYC
KARVY KRA https://www.karvykra.com/KYC_Validation/Default.aspx

Q7. I am a new investor and would like to open an account with one of the SEBI Registered Intermediary (SRI) or would like to invest in Mutual Fund. What steps do I need to follow?

To open an account with any of the SRIs or Mutual Funds, KYC process is critical and basic requirements. Investor has to fill-up the designated KYC form, attach the valid POI and POA documents as prescribed above and subject to validity and completeness, SRI will open an account and upload the same with one of the KRA, if already not available in any of the KRA records. Recipient SRI would parallelly open the account in their records.

Q8. I am a NRI / Foreign National investor and would like to open an account with one of the SEBI Registered Intermediary (SRI) or would like to invest in Mutual Fund. What steps do I need to follow?

To open an account with any of the SRIs or Mutual Funds, for NRIs / foreign nationals, (allowed to trade subject to RBI and FEMA guidelines), copy of passport / Persons of Indian Origin (PIO) Card/Overseas Citizenship of India (OCI) Card and overseas address proof is mandatory. In case the OVD presented by a foreign national does not contain the details of address, the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address. If any proof of address is in a foreign language, then translation into English shall be required. (Master Circular on KYC norms Point No. 20, 21 and 22).

Investors should be advised to complete the KYC online by submitting Aadhaar as OVD proof, giving valid email id and mobile so that they can invest with any SRI or mutual funds in future. In case it is not an Aadhaar based KYC, investor will have to submit the KYC documents every time they approach a new Mutual Fund for investment.

Q9. Are Bank statements accepted as Proof of Address (POA) in case of NRIs and Foreign Nationals?

In case the OVD presented by a foreign national does not contain the details of address, the documents issued by the Government departments of foreign jurisdictions and letter issued by the Foreign Embassy or Mission in India shall be accepted as proof of address. While there is no specific mention about acceptance of bank statements as POA but in exceptional circumstances if Foreign Embassy or Mission in India attest the bank statements might be accepted as proof of address.

Q10. For HUF investors, what is the supporting documents to be submitted for address proof?

HUF Investors can submit bank statement/bank passbook containing the name of HUF and their address as address proof.

Q11. Is there any impact for Non-Individual investors like Corporate, Firms, Trusts, Societies, etc.?

No impact, subject to other validation requirements like validation of contact details / new UBO/NPO requirements.

Q12. Helpline number?

Contact us at 1860 266 0111 (call charges apply) for assistance


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