Shreedhan

           

  With affect from 1 Apr 2024. SEBI has issued a circular for the securities market. This circular proposes some changes in the KYC process with immediate effect - All the New KYC should be made on the basis of Aadhar only. If you want to create KYC with documents other than Aadhar such documents should be updated in KYC at the time of their renewal/ expiry. Example – driving license, Statements, voter id, passport, job card etc. If you are holding existing KYC, then must check your KYC status -  If it is showing on hold this means all transactions in mutual funds are frozen until you verify / Validate in KYC with valid address proof or Aadhar card. If it is showing KYC registered – that means you can transaction in your existing mutual funds only, no new folio can be open. If Validate is showing, then you have full access to transact in any mutual fund without taking any action.