KYC Mandatory for all investors in Mutual Fund

With effect from 1st January 2011, KYC will be mandatory for all investors irrespective of amount of investment.

In case of investment for a minor, Guardian/Parent who is investing on behalf of the minor must be KYC complaint.

Impact of this move:
1. Even small investors have to now register for KYC.
2. Address updates have to be made in KYC for update in the Folios. However, contact details (phone & email) have to be separately updated with each AMC/for each folio.


Q> KYC for investments after 1st Jan 2011 – what happens to existing SIPs? Do they also require KYCs to continue investment?
Reply> KYC will be mandatory irrespective of investment amount for Individuals and Minors for only those SIPs registered on or after 01-Jan-2011. It is already mandatory for all other investors irrespective of invetsment amount.