Why it exists
India's anti-money-laundering rules require every financial intermediary to verify who its customers are. SEBI-registered KYC Registration Agencies (KRAs) hold your verified record, so you complete KYC once and can use it with any fund house, broker or depository.
Documents
- PAN (mandatory)
- Proof of identity and address, most commonly Aadhaar
- A recent photograph
- Bank account details and a cancelled cheque or statement
- Declarations such as FATCA/CRS (tax residency)
How to complete it
- eKYC (online): PAN plus Aadhaar OTP verification, often with a short video or selfie step. Usually done in minutes on an AMC or platform.
- Offline: a filled KYC form, self-attested copies and, where required, in-person verification.
- CKYC: the Central KYC Registry run by CERSAI gives you a KYC Identification Number (KIN). Many intermediaries can fetch your record from it.
KYC status: what each means
| Status | Meaning |
|---|---|
| Validated | Portable; no need to repeat KYC elsewhere |
| Registered | You may have to complete KYC again with a new intermediary |
| On hold | Transactions blocked; usually because your mobile or email could not be verified, or a document needs correction |
| Rejected | Documents failed validation; resubmit |
If your status is on hold, fix the reason shown (often an invalid mobile number or email, or a PAN-Aadhaar mismatch) and resubmit through your AMC or KRA.
Common mistakes
- Using a mobile number or email that someone else controls. It becomes an on-hold risk.
- Not updating KYC after changing address or bank.
- Assuming one KYC covers insurance. Insurers run their own KYC.
- Forgetting that each holder in a joint folio needs KYC.
Questions people ask
What is the full form of KYC?
Know Your Customer.
Is KYC mandatory for mutual funds?
Yes, for all investors, whatever the amount.
How long does eKYC take?
Often a few minutes for the online steps; validation can take a day or two.
Do I need to repeat KYC for each fund house?
No, if your KYC status is validated.
How can I check my KYC status?
On the AMC's site, a KRA site or through your distributor.
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Related terms
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How we can help
Sources
- SEBI KYC (Know Your Client) Registration Agency Regulations and circulars
- CERSAI CKYC guidelines
- AMC KYC investor guides.
Mutual Fund investments are subject to market risks. Read all scheme related documents carefully. This page is general education, not personal advice. Back to the full glossary