Feb 15, 2008

Checking of KYC over internet

Checking of KYC over internet

As you are aware that per guidelines issued by Securities and Exchange Board of India under The Prevention of Money Laundering Act, 2002 (“PMLA”) requires Mutual Funds to follow enhanced know your client (KYC) norms. Keeping this in mind as a customer service initiative, CDSL Ventures Limited (CVL) has introduced a service on their website whereby an investor can verify their KYC status.

For this the investors/distributors need to follow the below mentioned steps:

  • Step 1: Visit www.cvlindia.com and click on "Inquiry on KYC",
  • Step 2: Enter the PAN number and click on SUBMIT.
  • Step 3 (a): If KYC compliant the name of PAN holder appears along with the status of KYC. The investor can take a print out of this and will suffice as document of acknowledgement.
  • Step 3 (b): If the PAN number is not KYC compliant then “Invalid Data” will appear.

We hope this initiative helps you in getting all your customers KYC compliant.

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