Last year SEBI issued a circular effective April 1, 2024 regarding KYC norms for the securities market.
This has created a lot of confusion among investors and intermediaries, whether who has to do rekyc and who need not?
First check your KYC status from CVL KRA.
- If the 2nd column says KYC VALIDATED, then you are good to go - no action required. You can invest and redeem all the funds.
- If it says registered, you can invest in existing Fund houses. You have do rekyc to invest in new fund houses/ schemes.
- If it is on hold, you have to do rekyc.
You can do rekyc completely online from the AMC's websites, links of which are given below:
Bandhan Mutual Fund - Bandhan
Canara Robeco Mutual Fund - Canararobeco
DSP AMC - Dsp
Franklin Templeton Asset Management Franklintempletonindia
HDFC Mutual Fund Hdfc
ICICI Prudential Mutual Fund Icicipruamc
Kotak Mahindra Mutual Fund Kotak
SBI Mutual Fund Sbi
Investors having KYC status of 'Registered' or 'On Hold' can complete their KYC online without having to invest their money with the fund house.