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KYC (Know Your Customer) procedures are mandatory for residents and non-residents. You may have to redo your KYC if you have not done it through the Aadhar Verification process. Here’s your guide:
KYC for Mutual funds: Your status could be “on hold” if you have submitted outdated contact details. For Indian Residents:
How to check your KYC Status?
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Visit https: //www.cvlkra.com/, then enter your PAN number in the Inquiry tab, and you will see your KYC status.
What do these statuses mean?
Your status could be “on hold” if you have submitted outdated contact details, used officially non-valid documents, or have not linked your Aadhar and PAN.
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This could pose problems in your financial transactions like starting new Systematic Investment Plans (SIPs), making new investments, etc.
What to do?
REGISTERED:
if you have done your KYC through a Physical Aadhaar or a non-Aadhaar OVD like a passport not validated by the authority, your status could be registered.
You might face issues in schemes of a new fund house, so it would be better to modify your KYC through any of the online platforms.
VALIDATED:
You can take any action related to investment.
You could use the online method to do it. But in case you have shared officially non-valid documents, you will have to go to the nearest physical center to get your KYC done.
ON HOLD:
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1. Visit the CVL Contact Verification page:
https://validate.cvlindia.com/CVLKRAVerification_V1/
In case you have investments with other KRAs, you have to validate your contact details through their links:
Karvy KRA: https://www.karvykra.com/KYC_Validation/Default.aspx
CAMS KRA: https://camskra.com/pan_aadhaarlink.aspx
NDML KRA: https://kra.ndml.in/ClientInitiatedKYC-webApp/#/ClientinitiatedKYC
2. In case you have not validated your phone or email, you can enter your PAN and validate it through the OTP received.
3. If your Aadhar and PAN are not linked, you will have to link them first. Then validate your KYC through Aadhar on the same page.
4. Download your masked eAadhar.
5. After uploading the masked Aadhaar, you will see the KYC response that will show the matching score.
6. Now, link your Digilocker to CAMS. Sign up if you don’t have Digilocker.
7. Enter Aadhar OTP for your e-signature.
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FOR NRIs:
Acceptable Officially Valid Documents (OVDs) include a passport, PIO Card, or OCI Card, and providing proof of an overseas address is compulsory for NRIs.
Generally, NRIs only require email validation. You will notice that your phone number is not verified if you have shared an Indian cell number. The phone number may be inactive now. In this instance, the KYC needs to be updated.
For NRIs with foreign numbers, you must ensure that your PAN reflects your NRI status.
