HAS YOUR KYC STATUS CHANGED?

WHAT IS THE CHANGE FROM 1ST APRIL 2024?

SEBI vide circular SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated 11th August 2023, as a risk management framework advised that KYC Registration Agencies (KRAs) shall verify the following attributes of KYC:

  •  PAN (including PAN Aadhaar linkage, as referred to in rule 114 AAA of the Income Tax Rules, 1962)
  • Name
  • Address
  • Client’s Mobile Number and Email ID

The records of those clients in respect of which all the above attributes are verified by KRAs with an official database (such as the Income Tax database on PAN, Aadhaar XML/DigiLocker/M-Aadhaar) shall be considered as validated records.

 

WHAT ARE THE ATTRIBUTES AFFECTING YOUR KYC STATUS?

The KRAs have changed the KYC status of all existing KYC complied investors after validating above 4 attributes such as PAN, Name and Address with the official database (such as Income Tax database on PAN, Aadhaar XML/DigiLocker/M-Aadhaar) and Email ID/Mobile number (where provided) as follows :

KYC VALIDATED                                                                             KYC REGISTERED                                                                                   KYC ON HOLD

 

WHAT ARE THE IMPLICATIONS?

KYC STATUS

EXISTING AMC

NEW AMC

KYC Validated

No implications.

No implications.

 

KYC Registered

All financial transactions only in the AMC where investor already has investment are allowed.

Investors need to submit the set of KYC documents every time they invest with a new AMC.

 

KYC On hold

Investor will be able to transact after remediating the reason for KYC status On Hold.

Investor will be able to transact after remediating the reason for KYC status On Hold.

HOW CAN INVESTORS CHECK THEIR KYC STATUS?

  • Visit your KRA website (Links to KRA websites given below)
  • Click on KYC enquiry
  • Enter your PAN details and submit
  • The details displayed will indicate the proof used for your KYC

For further assistance, contact the Mutual Fund or RTA helpline.

 

KYC CONTACT DETAILS VALIDATION LINKS

 

KYC PAN AADHAR VALIDATION LINKS