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What you need to know about the new KYC guidelines

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DSP

Apr 22, 2024 4 mins

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Summary

Starting April 1st, 2024, new KYC guidelines for mutual fund investors require first-time investors to complete KYC via a provided link. Existing DSPMF investors must verify their email and phone with their KRA or risk investment issues. Investors KYC-verified with other mutual funds but not DSP must upgrade to "KYC Validated" status using Aadhaar for seamless transactions.

Attention, investors! On April 1st, 2024, new KYC guidelines took effect in the mutual fund industry. This may have caused some confusion in your mind.

Here is a quick run-through to help you understand what to do next.

  1. If you haven't invested in mutual funds before, you need to begin by completing your KYC process. Use this link (New KYC) to do so.

  2. If you have invested in DSPMF schemes before after having completed your KYC, you don't need to do anything if your email and phone number are verified with the KRA. If not, please get them verified immediately to avoid any issues with your investments. (Check with the KRA you did your KYC with, or call us toll free on 1800 208 4499).

  3. However, if you haven’t invested with DSP before but have invested in other mutual funds and have done your KYC, you need to upgrade your KYC status to “KYC Validated”.

Where can you check this?
Simply visit this page and enter your PAN.

What do you need to do if your KYC status is not "KYC validated"?
Use this link (Modify KYC) to upgrade your status via your Aadhaar Card. We strongly recommend using your updated Aadhaar card, in which your mobile number and email ID should be linked.

What next?
Once KRAs are able to validate your Aadhaar details with UIDAI, your status will be updated to “KYC Validated”, subject to email and mobile validation. Following this, you will be able to seamlessly invest in any AMC of your choice, whether you have invested with them before or not.

Confused? Need help?
Call our toll free number 1800 208 4499.

Check your KYC status

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Disclaimer

This note is for information purposes only. In this material DSP Asset Managers Pvt Ltd (the AMC) has used information that is publicly available and is believed to be from reliable sources. While utmost care has been exercised, the author or the AMC does not warrant the completeness or accuracy of the information and disclaims all liabilities, losses and damages arising out of the use of this information. Readers, before acting on any information herein should make their own investigation & seek appropriate professional advice. Any sector(s)/ stock(s)/ issuer(s) mentioned do not constitute any recommendation and the AMC may or may not have any future position in these. All opinions/ figures/ charts/ graphs are as on date of publishing (or as at mentioned date) and are subject to change without notice. Any logos used may be trademarks™ or registered® trademarks of their respective holders, our usage does not imply any affiliation with or endorsement by them.

  • Investment
  • Equity
  • Mutual Funds
  • Funds
  • Tax

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