In a relief to mutual fund investors, the capital markets regulator, the Securities and Exchange Board of India (SEBI), has taken measures to ease the KYC (know your customer) process. These measures would particularly help those whose KYC status has been ‘on hold,’ and non-resident investors. Below are the implications of SEBI's latest move.
PAN-Aadhaar Linkage
SEBI has said that even if your PAN (permanent account number) is not linked with your Aadhaar, your KYC will not be rejected or put on hold if parameters like the name, PAN, e-mail address or mobile number are validated. This means that those whose KYC is on hold because of pending PAN-Aadhaar linkage, their status shall now change to ‘registered.’
