Mutual Funds: New KYC norms for investors take effect from 2024-25; here’s what you need to know

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Also Read: Mutual Funds: How to check KYC status and what actions you might need to take? A step-by-step guide With the new set of rules stipulated by markets regulator SEBI on KYC (Know Your Customer) becoming effective from April 1 for MFs, investors have to check the status of their compliance with KRAs (KYC Registration Agencies) such as CAMS (Computer Age Management Services) to continue their investments and redemptions. “There are a lot of investors who have not done Aadhaar-based verification. Without Aadhaar-based KYC, we cannot process investments in new MF schemes," says Suresh Sadagopan, managing director and founder, Ladder7 Wealth Managers, a Mumbai-based wealth management firm.

“We have informed all clients about the changes in regulatory requirements. We are asking for the necessary documents from investors in the physical form," he says. Here is a step-by-step process of how to check the KYC status with KRAs to ensure uninterrupted access to MF investments.

Also Read: 'KYC is a problem crying to be fixed', laments Edelweiss MF's Radhika Gupta Investors have to check the status of their KYC first.

They can do this by logging into the website of KRAs such as CAMS, Karvy, CVL and NDML. The KYC status has been classified under three levels—KYC status is on hold, KYC is validated and KYC is registered or verified. Here are the links to do KYC.