Stock market and mutual fund investors whose KYC documents do not match as per the officially valid documents need to update them by March 31, 2024. If this is not done, then their KYC status will be treated as invalid. However, not all investors are required to update their KYC records. If your KYC records are verified using the prescribed officially valid documents (OVDs) and your mobile number and email ID are also verified, then there is no need to undergo this process.
«Individuals must note two aspects. First is if they have verified their mobile number and email ID and second whether the address proof document given by them is on the list of officially valid documents (OVD) as of date. As per the circular dated March 28, 2024, by CDSL Ventures, if an individual has verified their mobile number and email ID and the document used for address proof is as per OVD then the KYC status will be verified. There is no need for re-KYC,» says Vinay Dalmia, AVP, Choice Equity Broking Private Limited, a stockbroker.
Also read: Government servants and their family members cannot buy or sell stocks 'frequently' without doing this.
According to Dalmia, if an existing investor has got their mobile number and email ID verified and has given any other OVD apart from Aadhaar then as per the circular dated March 28, 2024, their KYC status will remain verified and not put on hold with the existing intermediary. «However, if these investors have done
Read more on economictimes.indiatimes.com