MF News SEBI to look into delays in updating of KYC status

SEBI to look into delays in updating of KYC status

Hiccups related to KYC will be resolved completely: SEBI ED.

Nishant Patnaik Jul 4, 2024

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Manoj Kumar, Executive Director, SEBI said the market regulator is actively looking into delays in updation of KYC status by the KYC Registration Agencies (KRAs).

He was speaking on the sidelines of the Association of Portfolio Managers in India(APMI) event held today in Mumbai.

Many distributors complain that the KYC status of their clients has not been updated even after 10 days of undergoing the KYC process again.

Kumar assured that hiccups related to KYC will be resolved completely.

While it takes a little time to streamline the systems and processes across KRAs, it is happening very fast in the MF and PMS industry, said Kumar.

In fact, all KRAs have dedicated helpline numbers for investors, he added.

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4 Comments

Sachin · 4 months ago `

It is next to impossible to connect with KRAs on helpline numbers. While emails remained unanswered for very long times.

krishnan · 4 months ago `

Better late than never case. Many of the investors have their initial kyc in ndml and when we submit forms at cams/kfintech the system shows in registered status and it is very difficult in connecting to them since the phone lines are busy for the full day. However CVL KRA has the best system for validation of kyc. why cant that be made uniform for all the kras. it will ease the life of the mfds

VEDA ACADEMY · 4 months ago `

CVl KRA has the best KYC validation system. I think it should be implemented by all KRA.

Capitus Investments · 4 months ago `

Why these people dragging india to older ages while rest of the world is moving faster...Officials want people to form long lines in front of offices waiting for them to invest in mutial funds ..very pathetic

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