Complete uploading of KYC papers by March 31: Sebi to MFs

Markets regulator Sebi today asked mutual fund houses to complete uploading of KYC details of all their existing clients to the central server by March 31, 2017.
"Mutual funds may ensure 30 per cent completion of uploading of existing KYC data by November 30, 2016, another 30 per cent of KYC data by January 31 and the rest 40 per cent data by March 31," Securities and Exchange Board of India (Sebi) said in a circular.
Intermediaries other than mutual funds have to ensure 50 per cent completion of uploading of existing KYC data by November 30 and the remaining 50 per cent by December 31.

CERSAI (Central Registry of Securitisation and Asset Reconstruction and Security Interest of India) has operationalised a help desk for addressing any difficulty in uploading KYC records to Central KYC Record Registry (CKYCR).
CERSAI, which was created in 2011 to prevent frauds in lending, performs functions like receiving, storing, safeguarding and retrieving KYC records in digital form.
In July, Sebi had asked intermediaries to upload KYC documents with the central server for all new individual accounts to be opened from August 1.