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).
KRAs shall validate the below mentioned attributes from Aadhaar data, if Aadhar is provided as an OVD – Official Valid Document.
Name of Aadhaar holder
Photo in Aadhaar data
Address as in Aadhaar data
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.
