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Where and how does one get to be KYC Compliant? Does the investor have to repeat the KYC process with every Mutual Fund?

April 26, 2017compliant investor kyc mutual fund process repeat

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Where and how does one get to be KYC Compliant? Does the investor have to repeat the KYC process with every Mutual Fund?

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The Mutual Fund Industry has appointed CDSL Ventures Limited (CDSL), a wholly owned subsidiary of Central Depository Services (India) Limited, to carry out the KYC compliance procedure. CVL through its Points of Service (POS) will accept KYC Application Forms, verify documents and provide the KYC Acknowledgement (across the counter on a best effort basis). The list of PoS will be displayed on the websites of Mutual Funds, CDSL and AMFI. Once the KYC is duly completed in all repects, the investor needs to produce a copy of the acknowledgement to the fund where the investor desires to invest.