Mutual Fund investor: If you invest in mutual funds then this is important news for you. Market regulator SEBI has given great relief to mutual fund investors by relaxing KYC rules. Even if your Aadhaar-PAN is not linked, you can still invest in mutual funds.
Let us tell you that according to the rule applicable from April 1, 2024, the KYC of investors was put on hold if Aadhaar-PAN was not linked, due to which investors could neither invest in any mutual fund nor redeem their investment.
KYC can be done even without Aadhar-PAN link
SEBI has given big relief to such investors. According to the new rule, even without linking Aadhaar-PAN, investors can get their KYC done with OVD i.e. officially valid documents like Aadhaar, PAN card, Voter ID, passport and driving license. The KYC status of such an investor will be KYC registered.
Also Read: Passport Tips: This one mistake in your passport can send you to jail
Investment is possible only in the fund for which KYC is done.
An investor with KYC registered status can deal only with that fund for which KYC has been done and not with any other new fund. At the same time, if an investor has linked Aadhaar-PAN and got his KYC done, then the status of that investor will be KYC Validated. Such investors can invest in all mutual funds.
KYC registered investors will have to get KYC done again to invest in any new fund. If KYC status is on hold, then the investor’s email, mobile number, address are not verified. Investors with KYC on hold will not be able to deal in mutual funds nor invest nor will they get the facility of redemption.
Where can you check KYC Status?
If any investor wants to check the status, he can check KYC status on www.CVLKRA.com
. By going to KYC inquiry page, investors can check KYC status with their PAN number. On this page, investors can also see their KYC registered authorities i.e. KRA such as CAMS, Karvy etc.
Relief given in the circular of May 14
If the investor’s KYC is not validated or registered, then he can do KYC by visiting the website of his KRA with officially valid documents. In the circular dated May 14, SEBI has given big relief to mutual fund investors.
