If you are investing either a lumpsum of Rs.50,000 or more, or starting a SIP (Systematic Investment Plan) where each installment is Rs.50,000 or more, then you have to first complete the new KYC formalities.
Here is what you need to do: Take a few documents (originals and copy, or attested copy) to any Point of Sale branch of CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL)). AMFI and SEBI have contracted out the verification process to CVL. You need to take the following:
– Proof of Identity
– Proof of Address
– PAN Card
Once you submit these documents and this application form, you will get an acknowledgment from CVL, after verification. All this is a one time effort. After you get the acknowledgment, just submit a copy of it with any new mutual fund investment you make subsequently. This is valid for all mutual funds.