As per SEBI guidelines, KYC Registration Agencies (KRA) are tasked with validating clients’ KYC details based on their records by September 2, 2023, which has been extended from the previous deadline of August 18, 2023 (SEBI, CDSL).
- Clients holding open positions in derivatives and currency segments can square off their positions between September 8, 2023, and September 12, 2023.
- Clients whose KYC is registered without Aadhaar as an officially valid document (OVD) must validate their KYC by December 31, 2023 (SEBI). This deadline has now been extended to March 31, 2024. After this date, these clients will be unable to execute any trades, including exiting their open positions.
The Know Your Customer (KYC) process involves verifying a customer’s identity and collecting information such as income and profession. According to SEBI guidelines, KYC is a mandatory requirement for opening a trading and demat account. At Mindex, KYC verification will take place during the account opening process.
To verify your KYC status, please follow these steps:
1. Visit the link provided above.
2. Click on “KYC Inquiry.”
3. Enter your PAN, complete the captcha, and click “Submit” to retrieve your status.
4. To find out which KYC Registration Agency (KRA) your KYC is registered with, refer to the KRA and KYC Status column.
If the status displays “Under Process“: This indicates that the KYC has been recently updated and is currently being processed by the KRAs. It may take up to 5 days for the KYC status to be updated.
If the status shows “On-Hold” or “Rejected“: This means that the information and documents provided by the previous financial intermediary were incorrect or incomplete. Mindex will send the necessary documents to the KRA to rectify the KYC status. If any additional documents are needed, you will receive an email detailing the required documents. The status update may take up to 5 working days.
If you have further queries, please contact us at 011-40904000/9311093150.