KYC application tracking made easy
Dailybhaskar | Nov 26, 2012, 13:09PM IST
New Delhi: If you are now looking to make your money talk with investments in the financial markets, than the first step towards that direction would be to get a PAN (Permanent Account Number), and then a KYC (Know Your Customer) form, which has all details of the applicant, and is acceptable during any new financial investment at the markets. Though PAN is more or less in place, getting the KYC forms still has mystery shrouded around it but hopefully the process isnt the toughest one will see. In fact tracking the status of the KYC application has been easier than ever. Here are a few simple steps to take you through the process:
- One needs to avail a KYC form, which are now accessible through financial brokers, a mutual fund application website, or simply through Google.
- Once the form is availed, it needs to be filled up, and attested with required documents like photo copies of the PAN card, address proof (passport copy or similar documents), and other neccessary details like photographs. Then this set needs to be sent to a point of sale by the customer, or the financial agent can do it themselves.
Details about the various Points of Sale (PoS) are available on the website of AMFI (Association of Mutual Funds of India) at www.amfiindia.com, or CDSL (Central Depository Services) at www.cdslindia.com, apart from the various mutual fund websites. These sources are legal authorized sources for noting the various points of sale for mutual funds and other financial instruments.
For checking status
- Once the application has been made, there is no immidiate alternative but to wait. But the status of the application can always be checked online, at the CDSL website mentioned above. For this, one has to enter the PAN number, and the latest status updates appear. If the application has gone thorough, 'MF-Verified by CVLMF' is the sign shown, or else if the application is in process, the status is updated as per that.
- Keep in mind, that if there has been any change in your address due to relocation, you will need to do the KYC norms again with the updated details. For that, you will have fill a separate form called KYC details changed form, which is also available on the CDSL website.