What is CDSL KYC and How to Check KYC Status? www.cvlindia.com

What is CDSL KYC and How to Check KYC Status? www.cvlindia.com

CDSL KYS is a phrase formed by joining two different terms with wider meaning. This is the terms used in the financial market. We all are aware of the terms but there are certain logics behind this terms which we need to understand to grasp the meaning of the phrase thoroughly. So let us understand both the terms individually initially and latter we will see the meaning of the phrase as a whole:

KYC

KYC is nothing but an abbreviated form of the phrase “Know Your Customer”. IN the Financial Market Lacs of people are investing per day. When any fraudulent acts are found, it is necessary to know the proper person behind the sins. So the financial institutions have to collect the documents supporting your identity. Even banks do collect the KYC. The KYC documents’ includes:

  • Identity Proofs:
    • Election Card issued by the Election Commission of India
    • PAN Card issued by the Income Tax Department of India
    • Driving License issued by the State Government
    • Passport issued by the Government of India
  • Address Proofs:
    • Rationing Card
    • Electricity Bill
    • Bank Passbook
    • Rent Receipt, etc

CDSL

CDSL Ventures Limited (CVL) is nothing but a subsidiary company of the Central Depository Services (India) Ltd. It is engaged in maintaining the KYC records of the investors.

CDSL KYC

The Investors who invest an amount of more than Rs. 50, 000 in mutual funds have to compulsorily submit their KYC. This is a compulsion by the provision of the Prevention of Money Laundering Act, 2002 (PMLA) for the mutual fund investors. The CDSL Ventures Limited (CVL) who is a subsidiary of CDSL is a KYC Registration Agency. The KYC collected by the financial agencies / capital market intermediaries are maintained by the agencies like CDSL Ventures Limited.

Once you give your PAN and submit your KYC, your KYC is registered. Then after you don’t have to register now and then as there is a linkage of your KYC with your PAN. The KYC records of the investors will be centralized. It will act as the CIBIL, where the credit score of a client is stored along with its past performance in paying of debts. In this way the KYC details will be centralized and every financial institution will be able to see the same details to check the past performance of the investors.

How to Check KYC Status at www.cvlindia.com?

Your KYC needs to be updated whenever there are changes in your KYC or any new document is to be submitted. Whenever you submit the KYC you can check the status of your KYC whenever you need to check it. To check the KYC Status, you can follow the following steps:

  • Visit the official site of CDSL Ventures Limited (CVL) i.e. www.cvlindia.com
  • Home page of the site will appear
  • There will be a tab given for “Inquiry on KYC”
  • Click on that tab
  • Now you have to provide your PAN
  • Click on “Check Status”
  • Your KYC status will be displayed.

Be careful of your KYC status as it will contribute towards your credit and you may be financed based on your performance in submitting proper documents for the KYC. So let the Capital Market Intermediaries know their clients well.

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