1.31 crore investors will have to redo their KYC to execute capital market transactions

The data released by all five KYC registration agencies (KRAs) shows that over 1.31 crore investors will have to redo their KYC to execute capital market transactions. 

Of the total 10.93 crore investors across capital market products which include mutual funds, PMS, AIFs and direct stocks, the KYC status of 12% investors or 1.31 crore is ‘on hold’ while the KYC status of another 15% investors or 1.64 crore is ‘registered’.

A vast majority of investors i.e. 73% or 7.98 crore investors have received ‘validated’ tag from their KRAs. 

While investors with ‘on hold’ KYC status will have to revisit their KYC completely, investors with ‘registered’ tag will have to submit KYC documents again when they want to invest in new security or new mutual fund. 

Investors with validated tag will not have any problem in executing financial or non-financial transactions. 

Let us look at the table to know more.

Source: AMFI

Investors can verify their KYC status through any one of the KRA websites under KYC Inquiry section.  Investors can submit their re-KYC ( KYC modification) via their intermediary’s or mutual fund’s website, which are integrated with the KRAs. Thereafter, the back-end interoperability function of KRAs will update the KYC records of the investor at the respective KRA. 

KRAs also have dedicated helpdesks and call centres where investors can call for any assistance or guidance. MF AMCs and RTAs are also helping investors to update their KYC as needed.

Here are details of KRAs websites: