How To Check CVL KYC Status? Find Out The Right Steps

The process of KYC (Know Your Customer) verification has become necessary in many financial organisations, especially banks and investment institutions. A few years ago, different financial institutions like banks, asset management firms, etc, all had their own Know Your Customer Verification (KYC) processes. However, the Securities and Exchange Board of India (SEBI) introduced KYC Registration Agencies or KRAs in order to make the KYC process more uniform and protect the data of the customers and investors. The CVL KRA is one such KYC Registration Agency that offers KYC and KYC-related services to fund houses, stockbrokers and other agencies that are compliant with SEBI. KYC is a one-time process that helps in authenticating the identity of the customer and is mandatory for all financial institutions.

The process of KYC (Know Your Customer) verification has become necessary in many financial organisations, especially banks and investment institutions. A few years ago, different financial institutions like banks, asset management firms, etc, all had their own Know Your Customer Verification (KYC) processes. However, the Securities and Exchange Board of India (SEBI) introduced KYC Registration Agencies or KRAs in order to make the KYC process more uniform and protect the data of the customers and investors. The CVL KRA is one such KYC Registration Agency that offers KYC and KYC-related services to fund houses, stockbrokers and other agencies that are compliant with SEBI. KYC is a one-time process that helps in authenticating the identity of the customer and is mandatory for all financial institutions.

Previously, investors had to repeat the KYC process every time they wanted to use the services of a fund house or a stockbroking institute. However, by registering through any one of the KYC Registration Agencies (KRAs), customers only have to carry out the KYC process once and they can then invest in mutual funds through different financial institutions.

CVL KRA is the first-ever central KYC Registration Agency for the securities market and is a completely owned subsidiary of the Central Depository Services (India) Limited or CDSL. As per their official site, CVL relies on CDSL’s experience and expertise in the securities market to store customer KYC data and maintain utmost data confidentiality. The CVL KRA is responsible for keeping the KYC records of customers on behalf of all the securities market intermediaries that are compliant with SEBI. If your customer profile has been registered with CVL KRA for KYC, then you might feel the need to check up on the status of your KYC from time to time or update it.

You can follow the steps given below in order to check your KYC status on the CVL: 

Step 1: On the CVL KYC website, log in to your account using your credentials. 

Step 2: On the CVL website, click on the option that says ‘Inquire on KYC’. 

Step 3: If your KYC is Aadhaar based, enter your Aadhaar number to check the present status of your KYC registration. 

Step 4: Alternatively, if your Aadhaar is PAN-based, enter your PAN card number to check the status of your KYC registration.

If you are not yet registered for CVL KYC and wish to do, you will need to keep the following documents ready for KYC verification; identity proof (PAN Card, Driving Licence, Aadhaar Card, Passbook, etc.) and proof of address (electricity bill, copy of passport, passbook, voter ID, ration card, rental agreement, driving licence, Aadhaar card, etc.). Now there are a few methods that you can use in order to register for KYC on the CVL. 

Offline Method: Download the KYC application form through the CVL website and fill it up accurately. Attach copies of all the required documents and ensure that you have not made any errors in the application and documentation process. Visit the fund house or financial institute that you wish to purchase mutual funds through and submit the KYC form and documents to them. The KYC application will be processed and submitted to the CVL and approved if all of your details are in order. 

Online Method: Go to the CVL official website and fill in the online KYC application form. You will also have to upload scanned copies of the necessary documents required. Once you’ve filled and submitted the form along with the documents, CVL will start the verification process. Once the verification is successfully complete, your CVL KYC will be registered.