SEBI’s new norms on the KYC registrations

• SEBI's new norms on the KYC registrations are effective from 1st November 2022.

• While the Mobile number and email ID are not mandatory attributes as per SEBI's circular dt: 06/04/2022, the investors are requested to mention the same in the CKYC Application form. CAMS front office staff / Branch personnel of AMCs, shall ensure to upload the mobile number and email-ID into KRA system along with other mandatory details. KRAs are required to validate the email ID and mobile number uploaded to KRAs by SEBI Registered Intermediaries (RIs).
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• KRAs shall validate the below mentioned attributes from Aadhaar data, if Aadhar is provided as an OVD – Official Valid Document.

1. Name of Aadhaar holder
2. Photo in Aadhaar data
3. Address as in Aadhaar data
4. Gender

• Validation of Mobile number, Email ID and Aadhar details by KRA, is applicable for both fresh KYC registrations and Modifications done to the existing KYC registrations.

• PAN & PEKRN (PAN-exempt KYC Reference Number) shall continue as KYC identifier and KYC Validation status will also be given.

• Investors who provide Aadhar as an OVD, will be allowed to invest in Mutual Funds once their KYC status is shown as KYC Validated – 07. In other words, the KYC registrations with Aadhar as OVD and the KYC status as "In Progress" ['01'] will need to have their KYC status as KYC validated, post which the MF transactions can be initiated.

• A new KYC status code '07' is introduced for those records where Aadhar as an OVD was given by the investor and validated by KRA. 

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