(1) What Is KYC ?
KYC is an acronym for 'Know your Client', a term commonly used for Client Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to 'know' their clients. This would be in the form of verification of identity and address, providing financial status, occupation and such other demographic information to CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL). Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.

(2) Where and how does one get to be KYC compliant? Does the investor have to repeat the KYC process with every Mutual Fund?
The Mutual Fund industry has appointed CDSL Ventures Limited (CDSL), a wholly owned subsidiary of Central Depository Services (India) Limited, to carry out the KYC compliance procedure

    •  Once the KYC is duly completed in all respects, the investor needs to produce a copy of the Acknowledgement to the fund where the investor desires to invest. There is no need to repeat the KYC individually for each Mutual Fund investment.

(3) Should the investor visit POS personally to obtain KYC compliance?
No. If the investor is not in a position to visit POS personally, the KYC application form along with the necessary documents (including originals if the copies are not attested) can be sent through the distributor or representative, who can arrange to fulfill the KYC obligation and obtain the KYC Acknowledgement through any of the POS.