New Delhi:
If you invest in mutual funds or SIPs, be aware that starting from April 1, 2024, the rules for KYC (Know Your Customer) have changed.
This change has caused some users issues when trying to purchase new mutual funds due to their KYC status being deemed ‘invalid’.
Those with a ‘Registered’ KYC status need to update their information to comply with the new regulations. This process can be completed online.
Who Needs to Update Their KYC?
Reports indicate that individuals whose KYC status is ‘verified’ or ‘on-hold’ must repeat the KYC process using their PAN and Aadhaar to achieve a ‘valid’ status.
Here’s how you can do it online:
Verify your KYC status with our comprehensive step-by-step guide. Ensure compliance and stay empowered in your investment journey! Download the guide here: https://t.co/mcVPgKAepe pic.twitter.com/fH5CqHwKIj
— AMFI India (@amfiindia) April 23, 2024
Steps to Complete KYC Online
1) Visit the KYC Verification Website: First, go to HDFC Fund’s KYC Verification page.
2) Enter Personal Details: Input your PAN and date of birth.
3) Redirect to KYC Portal: You will be redirected to another website to complete the KYC process. Make sure you have your PAN card and Aadhaar card for identity and address proof.
4) Sign and Provide Device Access: You will need to sign on the computer screen using a mouse or touchscreen. You must also grant access to your device’s camera, location, and microphone.
5) Verify Email and Mobile Number: Your current email address and mobile number will be displayed on the screen.
6) Upload Documents and Complete Verification: Upload your PAN as identity proof. You will then be redirected to DigiLocker. Enter your Aadhaar number and captcha code on DigiLocker.
An OTP will be sent to your registered mobile number and email address.
After entering the OTP, give consent to the KRA agency to access your information.
After completing these steps, your KYC process will be done. Your KYC status should be updated to ‘validated’ within 10 to 15 days.
