Type

Scheme

Financial Transaction

Miscellaneous

KYC refers to Know Your Customer. Effective January 1, 2011, in addition to the other category of investors, Know Your Customer (KYC) norms is mandatory for all resident individual investors as well (including for the following), irrespective of the amount of transaction.

i) Each of the applicants in case of application in joint names
ii) POA (Power of Attorney) holder in case of investments through a POA.
iii) Guardian in case of investments on behalf of a minor
iv) Claimant in case of transmission of units on account of death of existing holder

KYC is mandatory for following transactions:
New / Additional Purchases
Switch Transactions
New SIP Registrations
New STP Registrations
New DTP Registrations (including DTP related products)
Micro SIP

To simplify KYC norms, make it more investor friendly and uniform across all intermediaries, SEBI has recently laid down certain changes in the existing KYC process vide circulars MIRSD/SE/Cir-21/2011 dated October 5, 2011 and MIRSD/Cir- 26 /2011 dated December 23, 2011.

Primary objective of these circulars is to eliminate duplication of KYC across intermediaries in the securities market. Intermediaries include stock brokers through stock exchanges, Depository Participants (DPs) through depositories, Mutual Funds (MFs), Portfolio Managers (PMs), Venture Capital Funds (VCFs) and Collective Investment Schemes (CIS).

For this purpose, KYC registration is being centralised through KYC Registration Agencies (KRAs) registered with SEBI. Thus each investor has to undergo a uniform KYC process only once in the securities market and the details would be shared with other intermediaries by the KRAs.

Please note the additional Know Your Client (KYC) requirements by KYC Registration Agency (KRA) for our investors who have completed their KYC formalities prior to January 1, 2012.

From December 1, 2012 onwards certain additional information needs to be submitted as well as an ''In Person Verification'' (IPV) needs to be completed for further investments in any mutual fund (other than the one in which you have already invested).

SEBI (Securities and Exchange Board of India) vide circular MIRSD/SE/Cir-21/2011 dated October 5, 2011 has recommended / mandated all mutual fund investors, that the standard KYC form and supporting documents is to be used in accordance with the uniform KYC guidelines. Also the KYC registration needs to be centralized through KRAs w.e.f. January 1, 2012. This was a very welcome step as KYC process is to be done only once for all SEBI registered intermediaries such as Mutual Funds, Stock Brokers, Depository Participants, Portfolio Managers, Collective Income Schemes and Venture Capital Funds.
If you have already invested in a particular Fund house and have completed your KYC before January 1, 2012 then you are already a KYC compliant investor and can make further investments in the existing fund house without any further KYC requirements.
If you have already invested in any particular Fund house and now wish to invest in another Fund house where you have not invested before January 1, 2012 then you will have to complete the KYC formalities again by filling up the new KYC form implemented after January 1, 2012 with supporting documents duly attested and complete the In Person Verification (IPV).
IPV is also an additional requirement by SEBI from January 1, 2012 wherein the registered intermediaries will verify the investor physically. Mere submission of identity and address proof is not sufficient under the new regulations.

Please note that CDSL Ventures Limited (CVL), NSDL Database Management Limited (NDML) (wholly owned subsidiary of NSDL) and M/s. Dotex International Limited (a wholly owned subsidiary of National Stock Exchange of India Limited) has received approval from SEBI to act as a KYC Registration Agency (KRA).

Step 1: Submit the duly completed KYC Application Form along with duly attested documents evidencing Proof of Identity and Proof of Address as per the KYC documents required and mentioned in KYC Application form after completing the In person Verification as provided in Step No 2. Please Click Here to download the form from the ‘Downloads>KYC Forms’ section.

List of people authorized to attest the documents (evidencing Proof of Identity and Proof of Address) after verification with the originals:

1.Authorised officials of Asset Management Companies (AMC).
2.KYD compliant mutual fund distributors.
3.Notary Public, Gazetted Officer, Manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy).
4.In case of NRIs, authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Notary Public, Court Magistrate, Judge, and Indian Embassy/Consulate General in the country where the client resides are permitted to attest the documents.
5.Government authorised officials who are empowered to issue Apostille Certificates.

Step 2: Kindly note that, IPV is required to be done for all the KYC applications. IPV means in person visit along with the original documents for verification & authentication of the copies of the original documents by the intermediary. The Original documents will be returned after verification. In-person verification (IPV) can be carried out from any of the following SEBI registered intermediary.

Presently IPV can be done by any of the following intermediaries:


1. KYC Registration Agencies (KRAs),
2. Stock Brokers through Stock Exchanges,
3. Depository Participants (DPs) through Depositories,
4. Mutual Funds (MFs)
5. Portfolio Managers (PMs)
6. Venture Capital Funds (VCFs)
7. Collective Investment Schemes (CIS)
8. NISM/AMFI certified distributors who are KYD compliant
9. Scheduled Commercial Banks (in case of any applications received directly)

Note: In case you have attested the documents from any of the attesting officials as mentioned in point I above, and you wish to do your IPV with us, then it is mandatory to carry your original PAN Card along with you for the IPV process.

In case you are unable to personally visit us for IPV, then you may complete the IPV process from any of the nine entities mentioned in Point II above and send the KYC documents to our registered office address or any of the Karvy Collection Centres.

Upon receipt and verification of the KYC application along with the supporting documents, the subscription application accompanying the KYC documents will be processed and you shall receive a KYC acknowledgement from KRA.

Kindly note that for non KYC compliant investors (after completing the IPV process) the duly filled and signed KYC application form has to be necessarily accompanied with an investment application form with their respective supporting documents.

 

Please note that post your KYC details getting updated in the KRA website, the KYC status will get updated under your folio within 3- 4 working days from the said date.

Note : Your PAN needs to be updated in our records for your KYC status to get automatically updated through the KRA website. Else you need to send us the KYC acknowledgement to do the needful.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

For Individuals -

The revised KYC form effective from January 1, 2012 for Individual category has additional provision for details such as Father's / Spouse Name, Marital Status, Nationality, Gross Annual Income / Net worth details and In-person Verification. The revised KYC form can be used for changing contact details like address, email id and phone no.

For updation of KYC compliance as per the new SEBI guidelines with effect from 01 December, 2012, you may submit the KYC details change form duly filled and signed after completion of In person Verification (IPV). You need to fill only section ‘A’ and ‘B’ and forward the same to our registered office address or Karvy Collection Centre.

Note: In case you wish to do your IPV from our branch, then it is mandatory to carry your original PAN Card along with you for the IPV process.

Click here to download the form for KYC Change Details – Individual.

For Non - Individuals -

In case of 'Non Individuals', KYC needs to be done afresh due to significant and major changes in KYC requirements.

Click here to download the form for KYC Change Details - Non – Individual

Please note the following;
1.Updating of additional KYC requirements along with IPV is currently a one-time requirement and needs to be completed with any one of the mutual funds i.e. need not be done with all the mutual funds where the investor has existing investments.
2.The requirement is mandatory and the investor who wants to open a new account/folio with a new mutual fund from December 1, 2012, is required to complete the above formalities on or before that date in order to enable them to invest in a new mutual.
3.This will not affect subsequent transactions (or ongoing SIPs) of investors in their existing mutual fund folios/accounts which is KYC compliant under the erstwhile centralized KYC with CVL (CVLMF).
4.Please note that the KYC updation and IPV (one time) as detailed above will be mandatory for registering any change in the KYC information like address, contact information, etc.

For any more information on KYC; please CLICK HERE

In order to update new address against your folios, we request you to follow the steps as mentioned below:

Step 1: Submit the duly completed KYC Details Change Form along with duly attested documents evidencing Proof of Identity and Proof of Address as per the KYC documents required and mentioned in KYC Application form after completing the In person Verification as provided in Step No 2. You can also Click Here to download the form from the section ‘Downloads>KYC Forms’.

List of people authorized to attest the documents (evidencing Proof of Identity and Proof of Address) after verification with the originals:

1.Authorised officials of Asset Management Companies (AMC).
2.KYD compliant mutual fund distributors.
3.Notary Public, Gazetted Officer, Manager of a Scheduled Commercial/Co-operative Bank or Multinational Foreign Banks (Name, Designation & Seal should be affixed on the copy).
4.In case of NRIs, authorized officials of overseas branches of Scheduled Commercial Banks registered in India, Notary Public, Court Magistrate, Judge, and Indian Embassy/Consulate General in the country where the client resides are permitted to attest the documents.
5.Government authorised officials who are empowered to issue Apostille Certificates.

Step 2: Kindly note that, IPV is required to be done for all the KYC applications. IPV means in person visit along with the original documents for verification & authentication of the copies of the original documents by the intermediary. The Original documents will be returned after verification. In-person verification (IPV) can be carried out from any of the following SEBI registered intermediary.

Presently IPV can be done by any of the following intermediaries:


1. KYC Registration Agencies (KRAs),
2. Stock Brokers through Stock Exchanges,
3. Depository Participants (DPs) through Depositories,
4. Mutual Funds (MFs)
5. Portfolio Managers (PMs)
6. Venture Capital Funds (VCFs)
7. Collective Investment Schemes (CIS)
8. NISM/AMFI certified distributors who are KYD compliant
9. Scheduled Commercial Banks (in case of any applications received directly)

Note: In case you have attested the documents from any of the attesting officials as mentioned in point I above, and you wish to do your IPV with us, then it is mandatory to carry your original PAN Card along with you for the IPV process.

In case you are unable to personally visit us for IPV, then you may complete the IPV process from any of the nine entities mentioned in Point II above and send the KYC documents to our registered office address or Karvy Collection Centre.

Upon receipt and verification of the KYC application along with the supporting documents, the KYC documents will be processed and you shall receive a KYC acknowledgement from KRA.

Kindly note that once your new address gets updated in CVL records. the same will be captured against the folio in our records.

 

All intermediaries in the security market are authorized to conduct IPV. In case of Mutual Funds, Asset Management Companies (AMCs) and distributors who comply with the certification process of National Institute of Securities Market (NISM) or Association of Mutual Funds (AMFI) and have undergone the process of Know Your Distributor (KYD) can perform IPV. Further, in case any applications are received directly from the investors (i.e. without being routed through the distributors), the Mutual Fund may rely upon the IPV (on the KYC Application Form) performed by scheduled commercial banks / authorised employees of AMC.

Presently IPV can be carried out by any of the following intermediaries:

1. KYC Registration Agencies (KRAs),
2. Stock Brokers through Stock Exchange,
3. Depository Participants (DPs) through Depositories,
4. Mutual Funds (MFs)
5. Portfolio Managers (PMs)
6. Venture Capital Funds (VCFs)
7. Collective Investment Schemes (CIS)
8. NISM/AMFI certified distributors who are KYD compliant
9. Scheduled Commercial Banks

 

Online KYC or Electronic KYC is a procedure provided by Quantum Mutual Fund for KYC compliance that allows you to complete your KYC formalities completely online, without any paperwork whatsoever. KYC is now mandatory before investing in Mutual Funds. Online KYC is a simplified KYC for investments based on PAN and Bank Account no. details.

Online KYC is an initiative of Quantum Mutual Fund that offers you a paperless KYC process. Online KYC eliminates issues faced by an Investor while doing their KYC, particularly Applicants / Investors residing in B15 cities and outside India while doing their IPV, since everything is now online.

Your KYC will be verified within 2-3 business days, subject to the overall volume of KYC in a day received to us and provided your application is in good order.

We request you to keep all the documents ready for upload before proceeding with these steps as it will then be easy and quick for you to complete the process.

1. Visit our website (https://www.quantumamc.com/ekyc/ekyc). Upload the scan copy / image of identity proof, address proof and signature step by step as directed therein

2. Your details will be auto fetched as per proofs uploaded (please recheck the auto filled details)

3. You will then have to take your selfie in front of the camera and for IPV, record a video as directed.

4. Verify the Contract details, complete the E-Sign process and Submit the Application

 

Note:  There will be independent validation of supporting data. Quantum Mutual Fund reserves the right to ask for any additional document, if required further, to establish the applicant’s Proof of Identity and Proof of Address.

 

Once your application is successfully completed and submitted online, Quantum team will enter the details of the Online KYC application in the (relevant) KRA POA and CERSAI for processing the EKYC and CKYC application for KYC compliance respectively, subject to internal verification of application and documents.

 

If the details are not successfully validated or the images are not clear, the same will be communicated to the applicant, and /or the KRA / CERSAI may ask for clarification, and / or reject the KYC application.

 

Your KYC will be verified within 2-3 business days, subject to the overall volume of KYC in a day received to us and provided your application is in good order.

Only Resident Individuals (RI) can do Online KYC. Currently other categories of investors including NRI’s / PIO’s are not allowed to do Online KYC.

The list of documents required to be scanned and uploaded for completing the Online KYC compliance process are as follows:

Resident Individual

 

1

PAN Card

2

Offline Aadhaar (Zip / XML file)

 

Note: Investors having Aadhaar linked with active mobile number will only be able to apply for E-KYC to complete the E-Sign process. This process requires Aadhar / Virtual Number and OTP verification on the mobile linked with Aadhaar records.

Presently you will be allowed to transact post successful validation of your KYC status in the KRA website.

No, you are not required to send any documents in physical form to us. It is a completely Paperless and Online electronic process!

The details of PAN should be written carefully on the application. Also the copy of PAN image uploaded should be clear. PAN allotment letter is not accepted instead of the PAN card.

Once your KYC is registered with any KRA, you will receive a letter/email confirming the same. You can also visit the websites of any KRA and verify the status online.

This provision is currently unavailable to apply online via our EKYC portal. However, you may send the KYC application, in physical, duly filled and signed with IPV (In-Person Verification) completed form along with attested documents from the authorized officials at our branch address mentioned below:

Quantum Asset Management Company Private Limited

6th Floor, Hoechst House, Nariman Point, Mumbai - 400021, Maharashtra.

No, there are no charges for Online KYC through Quantum website.

This is a completely new paperless initiative introduced for the first time in the Industry by Quantum Mutual Fund for our prospective investors.

The size of the documents should not exceed 2 MB and document should be in pdf, png, jpg and jpeg formats.

Completely paperless: The service is fully electronic, and document management has been eliminated.
Inclusive: The fully paperless, electronic, low-cost aspects of Online KYC make it more inclusive, enabling financial inclusion.
Low cost: Elimination of paper verification, movement, and storage reduces the cost of Online KYC Process.
Faster: The service is based on electronic filling of data and E-IPV. Hence, it reduces a lot of the time and efforts taken in the physical process. Further the Self IPV option has been eliminated the process of manual eIPV wherein investor has to complete the IPV process through his web-ex session with our customer care team.

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