What is KYC in India

[reviewer]

KYC = Know Your Client.

If you are into investing in Mutual Funds, Stock etc. It's mandated by SEBI that you need to be KYC compliant.

There are few ways to getting KYC.

1) First step would be to get the PAN Card.
2) Once you get the PAN Card, you can visit the following places to submit the document (List Of POS on the left hand side).

www.cvlindia.com/faqs01.html#

3. Here is the online form for Individual KYC

www.amfiindia.com/spages/Individual-KYC.pdf

It would save time, if you could fill in the information, along with the required document.

4. Once you are documents are verified and the acknowledgment is received for submission of KYC, you should be able to open an account for investing in Mutual Funds etc. in India.

More questions regarding KYC are answered here

www.cvlindia.com/faqs01.html#

[happyparent]

I am in the process of opening online account with fundsindia. One of the requiremnt is to have KYC form. Can someone help me how to get this done. I googled for KYC centers and called the nearest center and they said they will do KYC only if we are investing through them. I want just KYC done since I will be investing through fundsindia online.

[courtneywalsh]

Feb 20, 2012 23:41:48 GMT -5 happyparent said:

I am in the process of opening online account with fundsindia. One of the requiremnt is to have KYC form. Can someone help me how to get this done. I googled for KYC centers and called the nearest center and they said they will do KYC only if we are investing through them. I want just KYC done since I will be investing through fundsindia online.

Happyparent,

You can request if fundsindia would do it for you as most likely you would be investing through them. I believe they used to do it earlier (although I got it done from another place in Chennai -- it was free of cost. You would just need to submit copy of your PAN Card and give proof of address).

[happyparent]

FundsIndia says the preferred way is to get it done in person than sending documents(I believe few originals are required as well) and hence thought of checking with others.
Anyone has experience getting done online through fundsIndia or any other firm?

[courtneywalsh]

Feb 21, 2012 23:23:55 GMT -5 happyparent said:

FundsIndia says the preferred way is to get it done in person than sending documents(I believe few originals are required as well) and hence thought of checking with others.
Anyone has experience getting done online through fundsIndia or any other firm?

You can get the documents attested. You don't need to send any originals. I went to a firm here in Chennai (Integrated Enterprises), where I applied in person . They just took my PAN card, Ration Card details and applied for my KYC. I think I got it within 3-4 weeks .

[happyparent]

Integrated Enterprises? Yes, this is exactly the firm that I called. I think beginning Jan 2011(or 2012) they don;t do just KYC unless you invest through them.