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FAQ

03. Know your customer

1) What does KYC stand for?
2) What is KYC?
3) What is the purpose of KYC?
4) Who does the KYC verification?
5) Which category of investors need to be KYC verified?
6) Is there any limit of investment below which KYC is not required?
7) Are my supporting documents and application form not sufficient for KYC verification?
8) How do I become KYC compliant?
9) How long is this process?
10) How will I be informed about my KYC status?
11) What are the documents required?


Q: What does KYC stand for?

A: It is an acronym for Know Your Customer.
 
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Q: What is KYC?

A: It is the due diligence and bank regulation that financial institutions and other regulated companies must perform to identify their customers and ascertain relevant information to do financial business with them.
 
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Q: What is the purpose of KYC?

A: KYC policies are becoming increasingly important globally to prevent identity theft, fraud, money laundering and terrorist financing. One aspect of KYC checking is to verify whether the customer is on any list of known fraudsters, terrorists or money launderers, such as the Office of Foreign Assets Controls (OFAC) list of Specially Designated Nationals (SDN).
 
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Q: Who does the KYC verification?

A: It is done by a KYC Registration Agency (KRA). In India they are:

CDSL Ventures Limited
DotEx International Ltd
NSDL Database Management Limited
CAMA KRA
 
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Q: Which category of investors need to be KYC verified?

A: " Individual " Joint account holder -Corporate investor
-Society
-Trust
-Partnership firm
-Hindu Undivided Family (HUF)
-Non Resident Indian (NRI)
-Person of Indian Origin (PIO)
-Overseas Citizen of India (OCI)
 
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Q: Is there any limit of investment below which KYC is not required?

A: As per SEBI regulations, all investors through channel partners have to be KYC verified irrespective of the investment amount.
 
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Q: Are my supporting documents and application form not sufficient for KYC verification?

A: For the purpose of KYC verification, an additional copy of PAN Card and address proof is required along with the KYC form.
 
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Q: How do I become KYC compliant?

A: -Fill in the KYC application form

-Attach an attested copy of your PAN card and address proof, attested by a Notary Public / Gazetted Officer / manager of a schedule commercial bank

-Send all of the above to us
 
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Q: How long is this process?

A: On submission of the KYC form along with the required documents, it will take 30 days for the verification process to be completed
 
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Q: How will I be informed about my KYC status?

A: Log onto the KRA website where you have submitted the KYC request and enter your PAN card number. That will enable you to see your KYC status.
 
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Q: What are the documents required?

A: Refer to the KYC form of the KRA where you will be submitting your KYC application.
 
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For further assistance, call our helpline at +91 22 4219 9494 from 9.30 am to 5.30 pm on Monday to Friday, (excluding Saturday, Sunday and public holidays).