Central KYC Registry (CKYCR) is a centralized repository of KYC records of customers in the financial sector with uniform KYC norms. Government of India has authorized the Central Registry of Securitization and Asset Reconstruction and Security interest of India (CERSAI), set up under subsection (1) of Section 20 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, to act as, and to perform the functions of, the Central KYC Records (CKYC) Registry under the PML Rules 2005, including receiving, storing, safeguarding and retrieving the KYC records in digital form of a “client”, as defined in clause (ha) sub-section (1) of Section 2 of the Prevention of Money Laundering Act, 2002. As per the new KYC norms, once the customer completes the KYC process with an entity authorized to conduct KYC, the customer will be able to invest in all the
financial products including Mutual Funds using the 14 digit KYC Identification Number (KIN) issued by CKYC. As the mutual fund industry is already having KRAs, as a first step, CKYC is being implemented for “New Individuals” for whom KYC is administered by the Intermediaries, effective 1st Feb. 2017. There will be slight change in the KYC form, which encompasses KYC with KRA as well as CKYC.
W.e.f. 1st February 2017, investors will be categorized as below for adhering to CKYC norms:
|CKYC Forms||CKYC Change Forms|
|CKYC -Individual Investors||Coming Soon|
|Supplementary CKYC – Individual Investors (If Investor filled KRA form)|
Non resident Indians residing out of India need to submit the following supporting documents as proof of identity and address
If any of the documents (including attestations / certifications) towards proof of identity or proof of address specified above are in a foreign language, they have to be translated into English before submission.
Investors must attach their KYC acknowledgement letter along with the Investment Application Form(s) / Transaction Slip(s) while investing for the first time in a folio of a Mutual Fund. This has to be done for each folio. Applications Forms / Transaction Slips not accompanied by the KYC Acknowledgement are liable to be rejected by Mutual Funds.
No. Once the KYC Acknowledgement is obtained and informed to a Mutual Fund, it will be registered against the folio. The same will exist in perpetuity, unless cancelled by CVL.
You should intimate your change of Name / Address / Status / Signature etc. to any PoS. You need to submit a copy of your KYC Acknowledgement and proof of new address (in case of change of address) along with the application for the change.
For any change request, the application form can be obtained from www.cvlindia.com. All details of holders as changed and updated with CVL will be replaced in the records of all Mutual Funds.
Please provide for at least 7 days for the changes to take effect with all the Mutual Funds with whom you are invested. Remember that the address registered with CVL is the final address. Intimating your change of address to Axis Mutual Fund or to the Registrar of Axis Mutual Fund is not sufficient.
For further details, please refer to www.amfiindia.com or www.cvlindia.com.