Understanding SEBI's KYC Amendments: KYC Update in Mutual Fund, KYC Guideline & New Update for NRIs
#kyc #mutualfunds
Feeling overwhelmed by the idea of mutual fund KYC compliance? You don’t need to be a compliance expert to stay on top of things!
In this episode of Money Skills by Scripbox, Vishal Agrawal, Vice President of Operations at Scripbox, and Archana Nair, Associate Group Manager at Scripbox, will guide you through SEBI’s mandate to link your PAN with Aadhaar, along with the subsequent amendments that offer much-needed relief. You'll learn how these changes affect your investments, why staying updated is crucial, and how to navigate these regulatory waters with ease.
With clear, actionable insights, this episode makes understanding these new rules straightforward. Watch the full episode for a deep dive into the latest updates and practical tips to ensure your mutual fund investments remain in top shape.
IN THIS EPISODE
0:00 Podcast intro
1:05 Introduction
2:04 Brief overview of the recent changes in KYC
3:01 What KYC Validation?
3:46 What is the difference between KYC validation and KYC registered?
5:26 How do KYC registration agencies (KRA) validate email IDs and phone numbers?
6:43 What common problems do customers face with KYC validation process?
7:53 What should customers expect after their KYC is validated?
8:10 What is the ideal process for new investors to complete their KYC?
11:56 Which documents are considered OVDs for KYC purposes?
14:14 How can they link PAN & Aadhaar?
14:46 What happens if an investor’s PAN and Aadhaar are not linked on the IT website?
15:57 What issues were NRIs facing with each transaction due to KYC problems?
19:29 What are the updates introduced in SEBI’s revised circular on May 14th?
21:09 Conclusion
Vishal Agrawal
Vishal Agrawal is experienced in Retail Banking Operations and enjoys working at the intersection of Finance and Operations. With over 20 years in vendor, process, and team management, and more than 5 years in Wealth Management Operations, he brings a wealth of expertise.
Connect with Vishal on LinkedIn: / vishal-agrawal-a335b844
Archana Nair K
Archana Nair is a dedicated customer service professional with a proven track record of delivering exceptional service and efficiently resolving issues.
Connect with Archana on LinkedIn: / archana-nair-165153103
Disclaimer: Mutual Fund investments are subject to market risks. Please read all scheme related documents carefully before investing. Past performance is not an indicator of future returns.
About Scripbox:
Scripbox, led by Atul Shinghal, Founder and CEO, and Sanjiv Singhal, Founder and Chief Product Officer, is a digital wealth management service.
Founded in 2012, Scripbox is a pioneer in the digital financial services space and is recognised for creating simple and elegant user experiences in a complex domain. Scripbox uses proprietary algorithms to deliver a holistic view of investments, as well as personalised recommendations for better outcomes.
Scripbox has been recognised as the 2nd most influential financial services brand globally by LinkedIn and has received the Financial Express’ Best Bank Award.
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#kyc #mutualfunds #podcast
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