Is physical presence required while complying with the requirement of KYC? I am 86 years old and I am not mobile. So I cannot be physically present at the registrars office like CAMS. What is the solution?
- R Ramamurthy
Talk to your mutual fund advisor and find out whether he can carry out the In Person Verification (IPV) for you. He just have to pay you a visit and match all the documents and identification proof. You also have the option of completing the process of IPV via web camera. Association of Mutual Funds in India (AMFI) has clarified last year that IPV can be done through web camera.
IPV can be done by any SEBI registered entity like an Asset Management Company or National Institute of Securities Market (NISM)/AMFI-certified distributors who are Know Your Distributor (KYD) compliant. Banks are also allowed to do IPV.
This article was originally published on November 20, 2015.
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