What is CDSL KYC and How to Check KYC Status?

What is KYC?

KYC – Know Your Client/Customer is a term used for client/customer identification. Financial institutions need to know who the customer is, need to verify the address, and know about the financial and occupational status. It is mandatory that investors have to be KYC compliant if they are investing more than 50,000 in mutual funds. The provisions of The Prevention of Money Laundering Act, 2002 (PMLA), has made it mandatory for all Mutual Funds to comply with the KYC norms of the applicants desirous of subscribing to their ‘units.’

For this process, CDSL Ventures Limited (CVL) has been formed by the Mutual Fund industry to create the necessary infrastructure to handle the KYC on behalf of the Mutual Fund Industry. CVL is handling the work of “Customer profiling and Record Keeping” for issuance of Know Your Client (KYC) acknowledgment to mutual fund investors.

How to update the KYC?
Download the KYC form here. Take a print out, fill it, add address proof and ID proof, and hand it over at the Investor Service Desk of your bank/trading service provider/CVL Point of Service.

KYC is linked to your PAN and you don’t need to fill KYC form for every mutual fund you are subscribing for. Just do it once and it will available for all you investments that is the biggest advantage of having updated the KYC in CVL.

How to check the KYC status?
Go to the CVL website http://www.cvlindia.com/ and click on “Inquiry on KYC.” Enter your PAN and see the status of your application.

CDSL KYC In the Recent Newslines

MUMBAI, JAN. 4: CDSL Ventures Ltd (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd, launched the first central Know Your Client (KYC) Registration Agency for the capital markets on Wednesday. The KYC registration agency will maintain the KYC records of an investor centrally, on behalf of capital market intermediaries registered with SEBI.

The aim of a centralised KYC registration agency is to avoid the duplication of work and make the overall process simple. This may become a trend setter for the industry, said Mr Rajeev Agarwal, Whole Time Member, SEBI.

CVL was earlier mandated by the mutual fund industry to handle the work of “customer profiling and record keeping” for issuance of KYC acknowledgement to mutual fund investors.

“As per the new guidelines, an intermediary shall perform the initial KYC of its clients and upload the details in the KRA system. Thus, when a client approaches another intermediary, it can verify and download the client’s KYC details from the KRA system. Further, any subsequent changes in demographic details of an investor across various intermediaries can be updated by simply updating the record maintained with the KRA,” said a media statement.

SEBI wants multiple KYC registration agencies to carry out the process. “We don’t have any identified number or ceiling beyond which we will not permit. We will go by the idea of how fit and proper they are. SEBI is obviously very keen to have multiple KYC registration agencies. We don’t want single agency. Going by the competition, my feeling is, that there won’t be too many registration agencies,” said Mr U.K. Sinha, Chairman, SEBI.

SEBI is also talking to other regulators in the financial sectors to set up a single central KYC registration agency. “The talks to other regulators are in a preliminary stage right now. They have their own requirements. When the SEBI KRA system is stabilised then we can move forward to speaking to the other regulators,” said Mr Sinha.

The SEBI Chairman also stressed on the need to relook the IPO process.

 

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15 comments… add one

  • B.G.SRINIVASA RAO June 4, 2012, 6:15 pm

    dear sir kindly send me kyc copy my pan # AHQPS3253G my wife pan # is BFPPS3391F. KINDLY SEND BOTH KYC CERTIFICATE
    Thank you and regards

    Reply
  • PIYUSH GANDHI August 9, 2012, 12:45 pm

    DEAR SIR
    I HAD APPLIED FOR KYC IN RESPECT OF MY FAMILY PAN NO AAAHG7783C,IN THE NAME OF GANDHI & SONS ,AABHM3874M IN THE NAME OF P MOHAN HUF AND AABHN 3682 E IN THE NAME OF NITIN MOHAN HUF BUT I HAVE NOT RECEIVED THE KYC
    ALSO i HAD APPLIED FOR CHANGE IN ADDRESS IN RESPECT OF PAN NO ACUPG9298 CIN THE NAME OF LALIT GANDHI,ACUPG 9324P IN THE NAME OF PIYUSH GANDHI,ACAPG IN THE NAME OF BHARTI GANDHI,ADSPG 9244P IN THE NAME OF NITIN GANDHI AND ACSPG 5116H IN THE NAME OF AARTI GANDHI BUT i HAVE NOT RECEIVED ANY COMMUNICATION EXCEPT FOR NITIN GANDHI

    Reply
  • RAVINDER MALHOTRA November 1, 2012, 6:29 pm

    HAD APPLIED FOR KYC WITH GOING THROUGH ALL FORMALITIES WITH MY PAN COPY PHOTOGRAPH
    ADDRESS PROOF AS PASSPORT .
    MY PAN NO IS AAEPM 7409 D
    TILL DATE I DID RECEIVE ON SMS FROM LM-CVLKRA 10 TH OCTOBER . BUT 20 DAYS HAVE PASSED
    AND I NOT GETTING ANY STATUS TOR THE SAME.

    KINDLY HELP ME IN THIS REGARDS

    KIND REGARDS RAVINDER MALHOTRA

    Reply
  • INDER SINGH BISHT November 20, 2012, 5:05 pm

    ANY KYC NO ALLOT BY GOV

    Reply
  • satishkumarbarla December 21, 2012, 12:40 pm

    The correct URL to check KYC is below:

    https://www.cvlkra.com/kycpaninquiry.aspx

    Thanks,
    Satish.

    Reply
  • sandeep kannojia February 16, 2013, 2:32 pm

    i m enter my pan card number to know the status of kyc but it is giving error which is mention below:

    Microsoft OLE DB Provider for SQL Server error ’80004005′

    [DBNETLIB][ConnectionOpen (Connect()).]SQL Server does not exist or access denied.

    /connection.inc, line 10

    Reply
  • NIKHIL BAGARIA March 1, 2013, 11:52 am

    on 22nd nov 2011 i got KYC acknowledgement of CDSL Yenture Ltd . t hrough integrated enterprises india ltd now uti mutul fund has accepted this KYC HoweverICICI PRUDENTIAL has rejected this KYC MY PAN NO IS AACPB 1883G. REASON FOR REJECTION IS NOT KNOWN PLEASE GUIDE ME

    Reply
  • manjeet kaur April 15, 2013, 11:30 am

    i want to know about my mutual funds status but how i dont know

    Reply
  • Tapan May 15, 2013, 3:45 pm

    I applied for KYC compliance with the requisite documents. Presently when I checked the KYC Status it was showing verified by “CVL KRA” but not checked with NDML KRA, CAMS KRA etc.”…what does it mean? It it considered verified and KYC compliant. What else I have to do? Who will issue the letter of KYC compliance? Please let me know

    Reply
  • ganesh August 29, 2013, 10:05 pm

    Hi , i am having the same issue as below..please clarify ..what is the next step?

    I applied for KYC compliance with the requisite documents. Presently when I checked the KYC Status it was showing verified by “CVL KRA” but not checked with NDML KRA, CAMS KRA etc.”…what does it mean? It it considered verified and KYC compliant. What else I have to do? Who will issue the letter of KYC compliance? Please let me know

    .

    Reply
  • Deewakar August 30, 2013, 1:02 pm

    Hi,

    I have done KYC procedure and its also showing “verified”. I did one mistake while filling the KYC form, not mentioning my email id. What is procedure to update my e-mail in KYC , all other infos are same.

    Please guide me

    With regards
    Deewakar Kumae

    Reply
  • PRADIP KUMAR BORO October 16, 2013, 11:28 am

    I have done KYC procedure and its also showing “verified” on 20-12-2011. I did not understand that why it is not showing in my Reliance Mutual Fund account. What is the procedure to update the KYC in my Reliance Mutual Fund account.
    Please guide me.
    With regards.

    Reply
  • VIJYAPAL SINGH ROJ February 12, 2014, 8:31 pm

    please send my KYC change acknowledgement on my Email.

    Reply
  • Lovely Gyan February 20, 2014, 6:48 pm

    Today I got a sms regarding KYC verification from LM-CVLKRA where my PAN no. is correct but Address is written as House No 568-ICA/440. Correct House No. is 568-Ka/440. Please guide how to correct it.
    Regards,
    Lovely Gyan

    Reply

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