What is CDSL KYC and How to Check KYC Status?

2 min read

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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23 Replies to “What is CDSL KYC and How to Check KYC…”

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

  2. 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

  3. 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

  4. 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

  5. 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

  6. 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

    1. Presently when I cheked KYC Status, it was showing on website “CVL KRA”KRA KYC Status KYC Hold Reason Status Date KYC Date Modify Status Modify Hold Reason Modify Date
      CVL KRA KYC REGISTERED – Incomplete/ Existing / Old KYC 08-11-2012 10:05:31 16-08-2012 11:37:29 NOT AVAILABLE
      odes Missing Field Descriptions
      04 Marital Status not available
      10 Proof of Correspondence Address not available
      12 Proof of Permanent Address not available
      14 IPV details not available
      Please advice me what I have to do?Simply I have to give reply on Missing Field & Address Proof
      Thanks,
      Warm regards,
      Parmanand N Jethani

      10&12 AADHAR CARD NO: 4518 6895 2129

      1. Presently when I cheked KYC Status, it was showing on website “CVL KRA” as
        KYC Registered – Incomplete KYC
        CVL 04 Marital Status Not Available
        CVL 10 Proof of Correspondence Address not available
        CVL 12 Proof of Permanent Address not available
        CVL14 IPV details not available
        Please advice me what I have to do?Simply I have to give reply on Missing Field & Address Proof
        Thanks,
        Warm regards,
        Parmanand N Jethani

  7. 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

    .

  8. 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

  9. 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.

  10. 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

  11. I HAVE RCD SMS FROM CDSL AND MENTIONING MY PAN NO.ADOPM0331P AND MY ADDRESS : 3, ADIBARTMA, PO: NABAGRAM (KONNAGAR), DIST: HOOGHLY, PIN: 712246, WEST BENGAL, INDIA. EVERY THING IS CORRECT. SO WHAT WILL DO.

    I HAVE ALREADY FILLED IN KYC FORM AND SUBMITTED TO BANK OF INDIA DEMAT ACCOUNT. J N ROAD BRANCH, KOLKATA.

    1) Joint Shibasish Mukherjee, BOI ID. 1302080000262247
    ( Wife) Sharmistha Mukherjee

    2) Single Shibasish Mukherjee, BOI ID. 1302080000252171

    THANKS

    SHIBASISH MUKHERJEE

  12. Hello sir,

    I have applied for KYC. For 1 month it was showing under process. Now it is showing ON HOLD.
    This website does not mention why it is on hold
    Can you please guide what to do next??

    Thanks in advance

  13. Dear Sir,

    For my Mutual Fund A/C KYC Status showing Kindly Contact Call Center for further assistance.
    Please provide Call Center Number.

  14. Hi my PAN no has register on 24-04-2015 till now it is showing the status as UNDER PROCESS, what is the meaning of it.How many days it will take for update

  15. sir i had applied for kyc of huf pan through m/f pos but it stands rejected .ihad submitted all documents.
    can someone tell me the correct way to process KYC OF HUF

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