Under SEBI guidelines, investing in mutual Funds operating in India requires investors to complete a KYC  ( Know Your Customer) procedure, called Mutual Fund KYC, or KRA KYC.
SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to know their customers. KYC establishes an investor’s identity & address through relevant supporting documents such as prescribed photo id (e.g., PAN card) and address proof and In-Person Verification (IPV). KYC compliance is mandatory under the Prevention of Money Laundering Act, 2002 and Rules framed there under, read with the SEBI Master Circular on Anti Money Laundering (AML) Standards/ Combating the Financing of Terrorism (CFT) /Obligations of Securities Market Intermediaries. Investors can choose to to complete their KYC through any of the listed KYC Rating Agencies- CVL, NSE, NSDL, CAMS or KARVY.