KYC Norms
WHAT’S CHANGING FROM 1ST APRIL 2024?
SEBI’s circular (SEBI/HO/MIRSD/FATF/P/CIR/2023/0144 dated 11th August 2023) introduces a new risk management framework requiring KYC Registration Agencies (KRAs) to verify the following key details for KYC compliance:
- PAN (including PAN-Aadhaar linkage as per Rule 114AAA of the Income Tax Rules, 1962)
- Name
- Address
- Mobile Number and Email ID
Records validated using official databases such as the Income Tax database or Aadhaar XML/DigiLocker/M-Aadhaar will be marked as validated records
WHAT ATTRIBUTES IMPACT YOUR KYC STATUS?
KRAs have reassessed and updated the KYC status of all existing investors by validating the following attributes:
- PAN
- Name
- Address
- Mobile Number and Email ID (where available)
Verification is done through official sources like the Income Tax database and Aadhaar XML/DigiLocker/M-Aadhaar. Based on this process, KYC statuses have been classified into:
- KYC Validated
- KYC Registered
- KYC On Hold
IMPLICATIONS OF YOUR KYC STATUS
| KYC Status | For Existing AMC Investments | For New AMC Investments |
|---|---|---|
| KYC Validated | No restrictions. | No restrictions. |
| KYC Registered | Transactions allowed only in existing AMCs. | KYC documents must be submitted for every new AMC. |
| KYC On | Transactions allowed after | Transactions allowed after resolving |
| Hold | resolving issues. | issues. |
HOW TO CHECK YOUR KYC STATUS?
- Visit the relevant KRA website (links provided below).
- Click on the “KYC Enquiry” option.
- Enter your PAN details and submit.
- Your KYC status and proof of compliance will be displayed.
For additional help, contact your Mutual Fund or RTA helpline.
KYC CONTACT DETAILS AND VALIDATION LINKS
KYC Validation Links:
- CAMS KRA: https://camskra.com/PanDetailsUpdate.aspx
- CVL KRA: https://validate.cvlindia.com/CVLKRAVerification_V1
- NDML KRA: https://kra.ndml.in/
- KARVY KRA: https://www.karvykra.com/KYC_Validation/Default.aspx
- DotEx KRA: https://www.nsekra.com/
- FOR EXISTING INVESTORS OF SHRIRAM AMC: https://kyc.shriramamc.in/
PAN-Aadhaar Validation Links:
- CAMS KRA: https://camskra.com/pan_aadhaarlink.aspx
- CVL KRA: https://validate.cvlindia.com/CVLKRAVerification_V1
- NDML KRA: https://kra.ndml.in/
- KARVY KRA: https://www.karvykra.com/KYC_Validation/Default.aspx
HOW TO UPDATE YOUR KYC TO KYC VALIDATED?
ONLINE- Visit the “Modify/Update KYC” section of any Mutual Fund website.
- Enter your details and upload the necessary documents.
- Once validated by KRAs using official databases (e.g., Income Tax, Aadhaar XML/DigiLocker/M-Aadhaar), your KYC status will be updated to “Validated.”
- Download the KYC Form from Shriram AMC’s website: https://www.shriramamc.in/investor-downloads
- Submit the completed KYC Form to the nearest Shriram Mutual Fund branch.
For further clarification,mail to us at customercare@shriramamc.co.in
