Know Your Customer Status on CDSL
Do you want to check KYC status online? Learn how to check Know Your Customer Status on CDSL website. KYC is an abbreviation of Know your Customer or Know your Client. It is a process of client identification.
The Stock Exchange Board of India has given guidelines for KYC norms. These prescribed guidelines should be used by the financial institutions. The process identifies the client’s personal information, financial status, and occupation. It is necessary for any client to be a KYC compliant before investing with any mutual fund. If the KYC application is under process, visit Visit our website after few days to know the status of know your client application.
All the banks and mutual fund companies have to keep their KYC details up to date. Anyone can verify KYC status by entering the PAN number of the client. Banks use this process for safety and verification. This facility is available on CDSL Ventures official website. If you have a PAN details of the party, you can verify his details and jurisdiction through this website. The KYC status process is available at the Central Depository Services. This post guides you about tracking KYC status with the link to the appropriate web page.
How to Check KYC Status with PAN number
CDSL accumulates all the data electronically. The portal is established to provide electronic depository services to the financial institutions. Mutual fund companies can also use this portal for searching KYC details. Use the steps given below in sequence by visiting the official website of the CVL.
- Use the official websites of the CDSL Ventures Limited. The links to the appropriate pages are shared below.
- You can use below links of CVL for KYC status inquiry if you know the PAN number of the client.
- https://www.cvlindia.com/inquiry_kyc01.asp (to check KYC application status)
- https://www.cvlkra.com/kycpaninquiry.aspx (to check KYC details of third party)
- Enter the PAN number and other fields if required.
- If the KYC status of the client is already verified with CSDL, you will see a message saying “MF-Verified by CVLMF”.
- If the KYC of the client is not verified, the message will show up as “Pending”. This means the KYC is applied and yet to be processed.
- If you see a KYC status message as “cancelled or rejected,” it means the application is not approved. The reason can be an absence of sufficient information or supportive documents.
The online process of knowing KYC position with CVL will just take a couple of minutes.
You might be interested in knowing application status of voter id card.
KYC Application Form – Know Your Client Form
CDSL Ventures Limited (CVL) is a subsidiary company of Central Depository Services (I) Ltd. It is a topmost securities depository of India. It accumulates data electronically. CVL has designed separate KYC application forms for individual and companies. The forms are available online on the website of CDSL, AMFI, and mutual funds. The homepage of cvlindia.com shows an option of ‘Downloads’ section. Follow the Download section to download the KYC application form online.
Why KYC is Needed
KYC is needed while opening a new bank account. If you are applying for a loan or a credit with a bank or other financial institutions, you need to get your KYC status approval. Other formalities like applying for a locker, changing authorized signatories also require Know your client verification.
PAN card is the major requirement to know the KYC status. Be it a firm or an individual you can track the details using PAN number. All the individuals and firms willing to invest in mutual funds need to apply for KYC. You may also get a KYC application form from your broker or bank. Investors should also inform their personal information when changed.
If you are a mutual fund or financial service, you should check the KYC status of your client before any transaction. Individual investors should present proof of identity and proof of address with the KYC application form. The section C of the application form will inform you of the mandatory documents required to be submitted with the form. For more queries, you may visit the FAQ section of CVL official website. The link to the website is shared in this article for your ready reference. If your PAN card application under process, check TIN NSDL PAN card status on our blog.