Know Your KYC Status

Running a KYC status check lets you know whether you are compliant with the existing KYC norms or not. Banks, other financial institutions, intermediaries, mutual fund houses, and government entities often require you to undergo KYC verification during registration. 

KYC stands for Know Your Customer and it is usually done to verify your address and identity. It is a good idea to run an online KYC status check from time to time since being non-compliant can lead to your accounts being temporarily suspended or frozen.

Since most financial services and products are offered online, proper verification of a user’s identity is the need of the hour. Here’s where KYC checks come into the picture. This process helps financial institutions verify the identity of the individual accessing an account, product, or service. 

KYC verification has time and again proven to effectively keep illegal activities like identity theft, money laundering, fraud, and unauthorised access in check. Being KYC compliant is mandatory to avail financial services and to carry out financial transactions. 

An individual can only access accounts, products, or financial services when the KYC status is marked as ‘registered’ in the respective institution’s database. You can visit a ‘Know Your Customer Registration Agency’ (KRA) office, or their website, to complete the KYC compliance process.

Once you register the request to check the KYC status online, the applicable status at time would be displayed during processing. 

A list of such KRA statuses is given below:

The process to check your KYC online is simple and can be completed by going to the KRA (KYC Registration Agency) website.

Just follow these steps:

1. Visit CDSL (Central Depository Service Limited) Venture Limited’s official website

2. Go to the ‘KYC Inquiry’ page

3. Enter either your PAN card number or your name, date of birth, and exempt category

4. Click on ‘Submit’, and the website will display the KYC verification status

Here are the steps to check your PAN Card KYC Status:

1. Go to the CDSL Venture Limited’s website

2. Type in your PAN number and then click on ‘Submit’ 

If the status shows ‘MF- Verified by CVLMF’ it means your KYC status is verified. In case your PAN KYC status has not been verified, it will show as ‘Pending’.

You can view the KYC status of your Aadhaar card by the below given method:

1. Visit the official website of the KYC Registration Agency (KRA)

2. Type in your PAN number accurately

3. You can check the status after logging in

4. If it is non-compliant, you can complete it through OTP authentication or biometrics

You can check the CKYC status can be checked through these steps:

• Log into the website of CDSL Ventures Limited

• Enter your PAN details

• Verify the security/CAPTCHA and click ‘Submit’

• Your CKYC number will be displayed on the screen

Follow these steps to check the UAN status:

1. Visit the official website to log into your EPF account

2. Enter your UAN number and password

3. Verify Captcha to login and go to the ‘KYC’ option

4. Select ‘Manage Tab’ and check your UAN KYC status on the ‘Digitally approved KYC’ tab

Follow these steps to view your EPF KYC status:

1. Go to the EPFO member e-Sewa portal

2. Type in the UAN number and your password

3. Enter the CAPTCHA and click on ‘Submit’ 

4. Navigate the ‘KYC’ tab and click on ‘Manage’ 

5. Check the status in ‘KYC Document Status’

The status will come up as ‘Approved’ if your employer has verified it, or it will show up as ‘Pending’.

You no longer need to go through the offline process of visiting the KRA (KYC Registration Agency) offices. Now, you can easily check your KYC status online for mutual funds. KYC verification is mandatory before investing in mutual funds. 

Follow these steps to check the status using your PAN number:

1. Go to the KRA’s official website and then fetch ‘KYC Inquiry’

2. You have the option to enter your PAN or your name, DOB, and exempt category

3. Enter the captcha and click on ‘Submit’

If you are KYC-compliant, the website will display ‘KYC registered’ or ‘KYC verified’. If your KYC is not registered, it will show ‘Pending’ or ‘Not Available’.

You can view the registration date and modification date, as well as the status for IPV or In-Person Verification.

Follow these simple steps to complete your KYC verification for the bank account:

• Go to the bank’s official website 

• Sign into your net banking account

• Navigate to the ‘Check KYC status’ section

• Type in your account number correctly

• Type in the captcha code and click on ‘Submit’

KYC is essential to carry out various transactions and hence, verification is essential. You can also complete the process via Digital KYC, Video KYC, and other methods. Financial institutions like HDFC Bank, SBI, HDFC Bank, Axis Bank, etc. also offer this facility. 

After submitting the KYC application, you can verify the status using your PAN.

Follow these steps to verify the KYC DIN (Director Identification Number) status:

• Visit the official Ministry of Corporate Affairs (MCA) website

• Click on the ‘MCA Services’ tab

• Go to the ‘DIN Services’ section and click on ‘Enquire DIN Status’

• Enter your DIN Number and click on ‘Submit’

• Your KYC DIN status will be displayed

With the following steps, you can verify your KYC status on the MCA website:

1. Register/Login into the official MCA website

2. Select ‘MCA Service’ and click on the ‘DIN Services’ option

3. Click on the ‘Enquire DIN Status’ option

4. Type in your DIN Number and click on ‘Submit’ to check the status

KYC compliance is of paramount importance for various reasons, ensuring the integrity and security of financial transactions. 

Here's why being KYC compliant is crucial:

• Legal Requirement: KYC compliance is often mandated by financial regulatory authorities, making it a legal obligation.

• Fraud Prevention: It acts as a robust deterrent against identity theft, money laundering, and financial fraud.

• Enhanced Security: KYC safeguards the financial system, making it harder for criminals to exploit it.

• Trust and Credibility: KYC compliance builds trust between financial institutions and customers, demonstrating a commitment to security and privacy.

• Swift Transactions: KYC-compliant individuals experience faster processing when opening accounts, applying for loans, or investing.

• Access to Services:KYC compliance is a prerequisite for accessing a wide array of financial services, ensuring you can fully utilise the offerings.

Overall, being KYC compliant is not just a legal necessity; it's a vital safeguard. It enhances security, trust, and efficiency in the financial world.