Utility bill, bank statement, and mutual fund KYC are invalid. Which documents are currently in effect
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Mutual Funds KYC: Before making any investments, all mutual fund investors must complete the necessary paperwork.
Due to modifications made by the Securities and Exchange Board of India (Sebi) to the Know Your Client (KYC) requirements, investors in mutual funds can now provide a different range of documents as confirmation of identity or address as of April 1. Before making any investments, all mutual fund investors must complete the KYC procedures.
Investors must complete a KYC form and present legitimate proof of identification (POI) and proof of address (POA) documents that have been registered by the mutual fund company or another organization registered with Sebi with a KYC Registration Agency (KRA).
Mutual Fund KYC: Accepted documents:
The following documents are now recognized as proof of identity that investors must provide: Aadhaar, Passport, Driver's License, Voter ID card, NREGA work card, and any other document approved by the Center in coordination with the regulator.
Mutual Fund KYC: Documents that won't be accepted
Utility bills and bank statements will no longer be acceptable for KYC completion.
Mutual Fund KYC: How can you complete KYC procedure
Investors can use the Aadhaar-based e-KYC system to finish their KYC requirements online. For the same, you can visit the websites of the mutual fund, its registrar, or third-party distributors that accept mutual fund investments.
