Insights

Understanding Re-KYC – A Comprehensive Guide

April 28, 2024 . FundsIndia Desk

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Table Of Contents

What is the New KYC regulations update?
What is the Impact? / Who are Affected?
How to check your KYC Status?
How are the NRI affected / What to do?
How to validate your KYC for Resident Indians?

What is the New KYC regulations update?

As of April 1, 2024, there’s a new rule for investors, especially those dealing with Mutual Funds: you must validate your KYC using both Aadhaar and PAN. If you don’t, your account will be put on hold, and you won’t be able to make future investments or withdrawals.

Here’s a simple guide on how to check your KYC status, understand what it means, and what you should do next.

What is the Impact? / Who are Affected?

How to check your KYC Status?

1. Visit the https://www.cvlkra.com/

2. Go to the ‘KYC Inquiry’ tab, enter your Permanent Account Number (PAN) and submit.

3. You will see a status such as ‘On Hold’, ‘Registered’, ‘Validated’ and the KYC Registered Authorities (KRAs) that are in charge of your KYC.

Below is a clear description of the types of KYC status and its impact respectively,

KYC Status	Description in bulletins	Impact
On Hold	KYC status may be put on hold for several reasons: Aadhaar and PAN is not linked, or Outdated contact details.	Restriction on Non financial transactions and various Financial transactions
Registered	This denotes that the KYC documents / information provided by the investor cannot be directly verified with the issuing authority and KRA verification is based on documents provided, but Email and/or Mobile are validated.	– Ability to invest and redeem from existing fund houses. – Inability to invest in schemes of new fund houses until KYC is Validated through an online platform.
Validated	You are compliant with KYC with Aadhaar, and you can take any investment action. You don’t have to redo your KYC.	– Full access to investment actions without the need to redo KYC.

How are the NRI affected / What to do?

If you are an NRI investor and your KYC status has been put on hold, we request you to send the KYC modification request by sending the duly filled form along with a self-attested copy of the following documents to the address provided below.

Documents Required:

Photograph (2 Copies)
Valid passport;
Valid work permit/employment visa etc.;
PIO Card or OCI card
Duly filled Re-KYC form;
Address proof: Valid driving license/Voter’s ID/Aadhaar Card etc.;
Permanent Account Number (PAN) Card

NOTE: Once sent over, an In-house representative will get in touch with you via video call for verification of supporting documents provided from your end and to proceed further with the validation.

Address:

Wealth India Financial Services Pvt. Ltd.,

3rd Floor, Uttam Building, No. 38 and 39,

Whites Road, Royapettah,

Chennai,

Tamil Nadu- 600014.

How to validate your KYC for Resident Indians?

Click the button below to find the complete Re-KYC procedure online for Indian Resident

Note: If you are unable to validate your KYC in any circumstances, feel free to reach out to your dedicated FundsIndia Investment Coach. You can also contact us via mail at contact@fundsindia.com or through phone at 044 6110 4100

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