Key Points
Stock market and mutual fund investors whose KYC documents do not match as per the officially valid documents need to update them by March 31, 2024..
As per the circular dated March 28, 2024, by CDSL Ventures, if an individual has verified their mobile number and email ID and the document used for address proof is as per OVD then the KYC status will be verified..
According to Dalmia, if an existing investor has got their mobile number and email ID verified and has given any other OVD apart from Aadhaar then as per the circular dated March 28, 2024, their KYC status will remain verified and not put on hold with the existing intermediary..
July 01, 2023) and Email / Mobile are validated by KRA and the KYC record is in verified (KYC Registered) status with KRA, such investors will be allowed to continue transacting in securities market with their existing intermediary..
"SEBI had extended the deadline from December 31, 2023, to March 31, 2024, for updating existing KYC records and indicated that failure to update KYC records by March 31, 2024, would result in such records being treated as invalid, and investors will not be allowed to transact in the securities market," said CDSL Ventures in the circular dated March 28, 2024..
