What is the latest KYC challenge with mutual funds and how to resolve it?

livemint.com:

Also Read: Mutual Funds: New KYC norms for investors take effect from 2024-25; here’s what you need to know If you are facing any challenges with new mutual fund investments or redemptions, you should check your KYC status. You can check your KYC status with a KRA like CVL KRA, NDML KRA, CAMS KRA, DOTEX KRA, KARVY KRA, etc.

Based on the KRA status, here is the action you need to take.KYC statusWhat should an investor doKYC validatedIt means your Aadhaar details have been validated with the UIDAI database. Your PAN – Aadhaar linking is done, email address and/or mobile number have been validated.You don’t need to take any action on KYC.

You can continue with existing investments and also make new ones with any AMC or SEBI-Registered Intermediary (SRI) seamlessly.KYC registeredIt means your Aadhaar (physical copy) or non-Aadhaar OVD (officially valid document) cannot be validated with the issuing authority. Your email address and/or mobile number have been validated.You can continue transacting with the existing mutual fund houses where you have investments.

To invest in a new MF, you must submit a fresh set of KYC documents every time.You will need to complete your KYC process using Aadhaar as OVD through online mode and get successfully validated. Once the status changes to “KYC Validated”, you can invest with any fund house.KYC on hold(Non-Aadhaar OVDs) – Allowed OVDsIt means your non-Aadhaar OVD (allowed OVD) cannot be validated with the issuing authority.

Your email and/or mobile number are not validated.You will need to submit a valid email and/or mobile to the SRI / AMC. They will upload it as a KYC modification request with the concerned KRA.You will need to complete your KYC process using Aadhaar as OVD through