KYC Certification of Mutual Fund Investors

We have entered into an agreement with M/s.CDSL Ventures Ltd (CVL) to become a Point of Service (POS) on their behalf,for KYC Certification of Mutual Fund Investors.

Prevention of Money laundering Act (PMLA) 2002 has made it mandatory for all Mutual Funds to verify the credentials of the applicants desirous of subscribing to their 'units',in order to comply with the 'Know Your Customer (KYC)' norms. As a result,all applicants have to submit their Proof of Identity (POI) and Proof of Address (POA) on each occasion when they purchase units of any mutual fund.

In this regard,M/s.CDSL Ventures Ltd (CVL), a wholly owned subsidiary of CDSL,has been mandated by the Association of Mutual Funds in India (AMFI), to create the necessary infrastructure in order to handle the KYC on behalf of the Mutual Fund Industry. For the convenience of the investors, CVL proposed to utilize the services of our branches,which are familiar with the KYC norms and we have agreed to become a Point of Service (POS) for CVL. In the KYC certification process,the investors have to submit the KYC Certification application form to the Bank,along with the KYC documents.The Bank will enter the particulars in the KYC system provided at the website of M/s.CVL and issue a system generated acknowledgement letter to the Investor, a copy of which the Investor can attach to the Mutual Fund application,thereby avoiding submission of the KYC documents along with each application for Mutual Fund units.

Initially,this service is provided only at 16 branches,which will be spread out to other branches soon. This service is offered totally free of cost. The KYC Certification Application forms are provided herewith.

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