If you have also invested in mutual fund schemes, then this news is for you. April 30, 2023 is the last date for revalidating KYC through Aadhaar of mutual fund investors done before November 1, 2022, by KYC Registration Agencies (KRAs).
This deadline has been extended several times by the market regulator Securities and Exchange Board of India (SEBI). In the circular issued by SEBI regarding KYC, it was said that those customers, who have used Aadhaar as the main document of KYC, should get it revalidated within 180 days after November 1, 2022. Let us inform, earlier the cut-off date for revalidating KYC by SEBI was fixed as July 1, 2022.
Transaction problem may occur
In a circular issued by Sebi in April last year, it was said that any customers whose records are not found correct by the KRA. They will be allowed to transact in the market only after validating KYC.
On the other hand, if KRA has not yet revalidated the KYC of the investors. The mutual fund distributor may ask investors to revalidate their KYC.
This will be beneficial by revalidating
Once your revalidation is complete. Then a code will be given by the KRA, with the help of which the customer can easily open the account anywhere without repeating the KYC process.
Investing in mutual funds
Let us tell you, mutual funds are a very popular way of investing in the stock market . In this you invest through SIP and lump sum. It has become increasingly popular among investors in the last few years.
