Know your customer (KYC) is a process which is followed by banks and various other financial institutions by collecting certain documents to establish clients identity.
Know Your Customer (KYC) has become compulsory since last couple of years. Buy a Mutual Fund, open a new bank account KYC is compulsory!
It is essential for every investor to submit documents to market intermediaries.
So how can you get KYC Compliant?
- All you need to do is fill in a CDSL form and have photo copy of your pan card and address proof to establish your identity.
- One can download the from from CDSL website (cvlindia.com).
- You dont have to personally visit CDSL and hand over the form along with your pan card’s photo copy. You can take help of a mutual fund agent.
- Once your form is submitted to CDSL you can track your status online on their website.
- Once your form has been processed you will get a confirmation from CDSL via. a postal mail.
- A passport size photograph a-fixed on the form.
- Photo copy of Pan Card.
- Photo copy of address proof.
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