Hello Readers,

Satinder.Aggarwal, Branch Manager of Standard Chartered Bank, Andheri (west), JP Road Branch and Manvinder Kaur, Investment Advisor of Standard Chartered Bank have sent this important piece of article to be shared with readers of Myinvestmentbuddy.com readers, Its about SEBI’s new regulations for all mutual fund holders. Below is the complete article.

As per regulations issued by SEBI, KYC formalities are required to be completed for all holders of MF effective 01Feb, 2008. This is applicable to all new / additional purchases of value >=INR 50,000.00. Applications which are not KYC compliant are liable to be rejected from the effective date.

There are 2 ways in which the customer can become KYC certified:

1. Submit attested copies of certificates with each and every investment or
2. Submit a one-time documentation to CVL (CDSL Ventures Ltd.) which is a wholly owned subsidiary of Central Depository Services (India) Ltd. :and obtain an acknowledgement of KYC completion. The copy of this letter can then be submitted with every transaction going ahead.

Request you to please familiarize yourself with the documentation requirements at http://www.amfiindia.com/showhtml.asp?page=kyc. This site has the formats of application forms and required documents along with a comprehensive FAQ on this process.

DOCUMENTS AND INFORMATION TO BE PROVIDED BY INVESTORS:
Investors in mutual fund schemes have to provide:
(1) Proof of Identity
(2) Proof of Address
(3) PAN Card - Mandatory
(4) Photograph

Click Here to download Individual-KYC document
Click Here to download Non Individual-KYC document
Click Here to download Prescribed Documents

On behalf of all MIB readers I would like to thank Mr. Satinder Agarwal and Miss.Manvinder Kaur for sharing this important news with us.

Readers having any mutual fund investment related query or need advise for investing in mutual funds can contact Mr. Satinder Agarwal via Satinder.Aggarwal@in.standardchartered.com and Miss. Manvinder Kaur via Manvinder.Kaur3@in.standardchartered.com

This document is issued by Standard Chartered Bank (SCB). While all reasonable care has been taken in preparing this document, no responsibility or liability is accepted for errors of fact or for any opinion expressed herein. Opinions, projections and estimates are subject to change without notice. This document is for information purposes only. It does not constitute any offer, recommendation or solicitation to any person to enter into any transaction or adopt any hedging, trading or investment strategy, nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such future movements will not exceed those shown in any illustration. The contents of this document are not made with regard to the specific investment objectives, financial situation or the particular needs of any particular person. Any investments discussed may not be suitable for all investors. Past performance is not necessarily indicative of future performance; the value, price or income from investments may fall as well as rise. SCB, and/or a connected company, may have a position in any of the instruments or currencies mentioned in this document. You are advised to make your own independent judgment with respect to any matter contained herein