As per the latest SEBI and AMFI guidelines for 2024–25, Know Your Customer (KYC) compliance in mutual funds requires investors to provide Officially Valid Documents (OVDs) for identity and address verification. These documents serve as the foundation for establishing a client’s financial identity and ensuring regulatory compliance across the mutual fund ecosystem.
Accepted Officially Valid Documents (OVDs):
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Passport
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Driving License
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Aadhaar (Masked Aadhaar accepted)
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Voter ID (Election Commission of India)
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NREGA Job Card (signed by a State Government officer)
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Letter from National Population Register (NPR)
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Any other document notified by the Central Government
Key Updates (2024–25):
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Utility bills, rent agreements, and bank statements are no longer accepted as OVDs.
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Investors using non-Aadhaar OVDs must complete re-KYC before investing in a new AMC.
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Aadhaar-validated KYC (UIDAI-linked) is now considered “KYC Validated”, enabling seamless transactions across all mutual fund houses.