KYC is an abbreviation for 'Know your Client', a term commonly used for a process of identification of a customer. The Securities and Exchange Board of India (SEBI) has prescribed certain requirements relating to KYC norms for financial institutions and financial intermediaries including mutual fund houses to 'know' their clients. This is in the form of providing the client's identity and address for verification along with his/her financial status, occupation and such other demographic information to CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL). For investing with any SEBI- registered mutual fund, you must be KYC compliant.
To know about Mutual Fund KYC, click here