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Tuesday, April 23, 2024

Mutual Funds: How to check KYC status and what actions you might need to take? A step-by-step guide

  shekharagouda       Tuesday, April 23, 2024

Topic              :Mutual Fund Information 

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Publication    :23/04/2024

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 Mutual Funds: How to check KYC status and what actions you might need to take? A step-by-step guide

Know Your Customer (KYC) procedures are mandatory processes that mutual fund investors should adhere to invest and redeem without any hassles. It is important for residents as well as non-resident Indians (NRIs).

In the event that you have utilized some other way than Aadhaar confirmation, you should re-try or alter your KYC.

Indians who live there Check the status of your KYC as soon as possible. 

To see how your KYC is going:

 1. Go to to learn more.

 2. Enter your Permanent Account Number (PAN) and click "Submit" on the "KYC Inquiry" tab.

3.You will be able to see the KYC Registered Authorities (KRAs) in charge of your KYC, as well as a status such as "On Hold," "Registered," "Validated," or "Rejected."

Understanding your KYC status:

1. Utilization of documents with no official validity (OVDs), such as utility bills.

 2. PAN and Aadhaar have no connection, or 

3. Obsolete contact subtleties. 

Restrictions on a variety of financial transactions, such as starting new Systematic Investment Plans (SIPs), making new investments, or redeeming existing investments, result from an "On Hold" KYC status.

How can you proceed? 

Online Strategy Make sure :

your phone is registered with Aadhaar before doing this, as you will receive an OTP on your mobile number that is registered with Aadhaar. Also, the internet based strategy probably won't work on the off chance that you had shared service bills or other non-legitimate OVDs. In this scenario, you might be required to2. Your "On Hold" status could be the result of your phone number or email address not being validated. If that is the case, you can add your PAN and choose to use an OTP to verify your email address or phone number. 

3. After that, you can select "Submit." The next step is to proceed online to validate your KYC. 

4. Your PAN and Aadhaar linkage status will also be displayed to you. Before proceeding, you must first link your Aadhaar and PAN if they are not already linked. share a physical KYC with your fund house or service provider.

5. In total agreement, you will see the tab that will provoke you to approve your KYC through Aadhaar.Proceed with Aadhaar Approval. 

6. Any one of the Aadhaar Validation Options can be chosen. Please ensure that you download only masked eAadhar if you select the first option, which is eAadhar PDF.

7. You will receive the KYC response with the matching score after uploading the masked Aadhaar.

8. You will then connect your digilocker to CAMS. If you do not already have Digilocker, you will be signed up. Fill in the necessary fields. 

9. Presently, your virtual endorsement is finished through Aadhaar OTP. After a few hours, you can check for new information.

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