Question on KYC

POSTED BY Chetan Ambi ON February 12, 2013 6:20 pm COMMENTS (10)

I have started investing in SBI emerging businesses fund and KYC is initiated by SBI itself under CAMS KRA. Its been 2 weeks now. In CAMSKRA site my KYC status is showing as “Document Received, Pending Verification“. My question is am I eligible to invest in funds of other AMC’s while KYC status is still not confirmed or Do I need to wait untill status shows ‘Verified’.

Thanks,

Chetan

10 replies on this article “Question on KYC”

  1. spguptahyd says:

    Yesterday I received on my Mobile that Your central KYC registry identifier is :40042855903047. I have given the same mobile number for muself and my wife.How to find what it is. And what is it relavant. And where is it required?
    Do i have to get this for both PAN nos of myself and my wife?

    1. I am not sure on this

  2. Chetan Ambi says:

    Yesterday I have sent out an email to CAMS asking when verification will be completed. Immediately within few hours they replied with my KYC status verified 🙂 Within 15 days my KYC is completed.

  3. Dear Sumit, had you checked your KYC status in CDSL? How do you come to know that it’s not varified & you are able to invest through your broker?

    Thanks

    Ashal

  4. Sumit says:

    I dont have my KYC verified yet, but I havel already started investing online in few Mutual fund -SIPs by my broking house for more than a month now.
    Though I have applied for my KYC which is not completed yet.

  5. Dear Chetan, your question was clear to me. That’s why I asked you to contact another AMC. Your KYC is not completed. So it’s advisable to invest with another AMC complete your KYC through it.

    Sprite! Clear hai!

    Thanks

    Ashal

  6. Chetan Ambi says:

    Dear Ashal, I am not waiting for SBI because I have already invested in SBI emerging business fund. Even I got statement from CAMS. My question am I eligible to invest in other fund? Because other AMC’s will ask for KYC but mine is not yet verified. Hope my question is clear this time.

    Thanks,
    Chetan

    1. Karthik says:

      wait for 10 more days. Once your KYC status is changed as ‘verified’, you can start investing in other AMCs. Otherwise you may need to provide the KYC documents again to another AMC which is unnecessary.

      1. Chetan Ambi says:

        Thanks Karthik and Ashal. as you said I will wait for another 10-15 days until KYC status gets changed to ‘verified’ and then I ll start investing in other mf’s.

  7. Dear Chetan, instead of waiting endlessly for SBI AMC, please contact other amc of your choice & start investing.

    Thanks

    Ashal

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