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.

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This deadline has been extended several times by the market regulator Securities and Exchange Board of India (SEBI). In the circular issued by SEBI regarding KYC, it was said that those customers, who have used Aadhaar as the main document of KYC, should get it revalidated within 180 days after November 1, 2022. Let us inform, earlier the cut-off date for revalidating KYC by SEBI was fixed as July 1, 2022.

Transaction problem may occur

In a circular issued by Sebi in April last year, it was said that any customers whose records are not found correct by the KRA. They will be allowed to transact in the market only after validating KYC.

On the other hand, if KRA has not yet revalidated the KYC of the investors. The mutual fund distributor may ask investors to revalidate their KYC.

This will be beneficial by revalidating

Once your revalidation is complete. Then a code will be given by the KRA, with the help of which the customer can easily open the account anywhere without repeating the KYC process.

Investing in mutual funds

Let us tell you, mutual funds are a very popular way of investing in the stock market . In this you invest through SIP and lump sum. It has become increasingly popular among investors in the last few years.

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