Frequently Asked
Questions

Please click here for the CVL India website 

KYC stands for "Know Your Customer." As of January 1, 2011, KYC norms became mandatory for all resident individual investors, regardless of transaction size. These requirements apply to the following categories of investors

a)      All applicants in joint-name applications.

b)      Power of Attorney (POA) holders when investing through a POA.

c)      Guardians investing on behalf of a minor.

d)      Claimants in the case of unit transmission following the death of the original holder.

KYC is mandatory for the following transactions:

• New or additional purchases.
• Switch transactions.
• New SIP, STP, or SWP registrations.
• Redemption transactions.
• New DTP registrations (including DTP-related products).
• Micro SIPs.

To streamline KYC processes and ensure consistency across intermediaries, the Securities and Exchange Board of India (SEBI) introduced changes to the existing KYC procedure via circulars MIRSD/SE/Cir-21/2011 (October 5, 2011) and MIRSD/Cir-26/2011 (December 23, 2011).

The primary aim of these circulars is to eliminate redundant KYC processes across various intermediaries in the securities market. Intermediaries include stock brokers, depository participants (DPs), mutual funds (MFs), portfolio managers (PMs), venture capital funds (VCFs), and collective investment schemes (CIS).

To achieve this, KYC registration has been centralized through KYC Registration Agencies (KRAs) registered with SEBI. As a result, investors are now required to complete the KYC process only once, and their details are shared with other intermediaries by the KRAs.

Please note the additional Know Your Client (KYC) requirements by KYC Registration Agency (KRA) for our investors who have completed their KYC formalities prior to January 1, 2012.

From December 1, 2012 onwards certain additional information needs to be submitted as well as an ''In Person Verification'' (IPV) needs to be completed for further investments in any mutual fund (other than the one in which you have already invested).

SEBI (Securities and Exchange Board of India) vide circular MIRSD/SE/Cir-21/2011 dated October 5, 2011 has recommended / mandated all mutual fund investors, that the standard KYC form and supporting documents is to be used in accordance with the uniform KYC guidelines. Also the KYC registration needs to be centralized through KRAs w.e.f. January 1, 2012. This was a very welcome step as KYC process is to be done only once for all SEBI registered intermediaries such as Mutual Funds, Stock Brokers, Depository Participants, Portfolio Managers, Collective Income Schemes and Venture Capital Funds.

•	If you have already invested in a particular Fund house and have completed your KYC before January 1, 2012 then you are already a KYC compliant investor and can make further investments in the existing fund house without any further KYC requirements.
•	If you have already invested in any particular Fund house and now wish to invest in another Fund house where you have not invested before January 1, 2012 then you will have to complete the KYC formalities again by filling up the new KYC form implemented after January 1, 2012 with supporting documents duly attested and complete the In Person Verification (IPV).
•	IPV is also an additional requirement by SEBI from January 1, 2012 wherein the registered intermediaries will verify the investor physically. Mere submission of identity and address proof is not sufficient under the new regulations.

Step 1: Submit the completed KYC Application Form and FATCA Form along with the necessary documents proving your identity and address, as outlined in the KYC Application Form. These documents must be attested and verified as per the requirements. You can download the forms from the 'Quick Downloads > KYC Forms' section on our website at https://www.QuantumAMC.com.

List of authorized individuals to attest documents after verifying the originals:

1.	Authorised officials of Asset Management Companies (AMC).
2.	KYD compliant mutual fund distributors.
3.	Notary Public, Gazetted Officers, Bank Manager of Scheduled Commercial Banks/ Co-operative Banks, or Multinational Foreign Banks (the name, designation, and seal must be affixed on the copies)).
4.	For NRIs, authorized officials from overseas branches of Scheduled Commercial Banks registered in India, Notary Publics, Court Magistrate, Judge, and Indian Embassies/Consulates in the country of residence.
5.	Government authorized officials empowered to issue Apostille Certificates.

Step 2: Please note that, In-Person Verification (IPV) is required for all the KYC applications. IPV involves  a personal visit with original documents for verification and authentication of the copies by the intermediary. The original documents will be returned after verification.  IPV can be done at any of the following SEBI-registered intermediaries.

1. KYC Registration Agencies (KRAs),
2. Stock Brokers through Stock Exchanges,
3. Depository Participants (DPs) through Depositories,
4. Mutual Funds (MFs)
5. Portfolio Managers (PMs)
6. Venture Capital Funds (VCFs)
7. Collective Investment Schemes (CIS)
8. KYD- compliant NISM/AMFI certified distributors
9. Scheduled Commercial Banks (for applications submitted directly)

Note: If your documents are attested by any of the authorized officials listed above and you wish to complete your IPV with us, please ensure that you bring your original PAN Card for the IPV process.

If you are unable to visit us in-person for the IPV, you may complete the IPV process with any of the nine listed entities and send the KYC documents to our registered office address mentioned below or any KFin Technologies Limited office.

Quantum Asset Management Company Private Limited

1^st Floor, Apeejay House,

3 Dinshaw Vachha Road, Backbay Reclamation,

Churchgate, Mumbai - 400 020,

Maharashtra.

 

Please click here to locate the KFin Technologies Limited nearest to you.

Upon receipt and verification of the KYC application along with the supporting documents, your subscription application will be processed, and you shall receive a KYC acknowledgement from the KRA.

Important Note: For non-KYC compliant investors, after completing the IPV process, the signed and completed KYC application form must be submitted alongside an investment application form and the relevant supporting documents.

Please note that once your KYC details are updated on the KRA website, the KYC status will be reflected in your folio within 3 to 4 working days, based on the KRA feed.

Note : Your PAN must be updated in our records for your KYC status to be automatically updated through the KRA website. If your PAN is not updated, you will need to send us the KYC acknowledgment for us to take the necessary action



For Individuals -

The revised KYC form effective from January 1, 2012 for Individual category has additional provision for details such as Father's / Spouse Name, Marital Status, Nationality, Gross Annual Income / Net worth details and In-person Verification. The revised KYC form can be used for changing contact details like address, email id and phone no.

For updation of KYC compliance as per the new SEBI guidelines with effect from 01 December, 2012, you may submit the KYC details change form duly filled and signed after completion of In person Verification (IPV). You need to fill only section ‘A’ and ‘B’ and forward the same to our registered office address or KFin Technologies Limited.

Note: In case you wish to do your IPV from our branch, then it is mandatory to carry your original PAN Card along with you for the IPV process.

Click here to download the form for KYC Change Details – Individual.

For Non - Individuals -

In case of 'Non Individuals', KYC needs to be done afresh due to significant and major changes in KYC requirements.

Click here to download the form for KYC Change Details - Non – Individual

Please note the following;

1.	Updating of additional KYC requirements along with IPV is currently a one-time requirement and needs to be completed with any one of the mutual funds i.e. need not be done with all the mutual funds where the investor has existing investments.
2.	The requirement is mandatory and the investor who wants to open a new account/folio with a new mutual fund from December 1, 2012, is required to complete the above formalities on or before that date in order to enable them to invest in a new mutual.
3.	This will not affect subsequent transactions (or ongoing SIPs) of investors in their existing mutual fund folios/accounts which is KYC compliant under the erstwhile centralized KYC with CVL (CVLMF).
4.	Please note that the KYC updation and IPV (one time) as detailed above will be mandatory for registering any change in the KYC information like address, contact information, etc.

To update your address in our records, please submit a request for a modification in your KYC records by following the steps outlined in the "How do I complete my KYC formalities offline?" section. Once your new address is updated in the KRA records, it will be reflected in your folio within 3 to 4 working days, based on the KRA feeds

All intermediaries in the securities market are authorized to conduct In-Person Verification (IPV). For Mutual Funds, AMCs, and distributors certified by NISM or AMFI and who have completed the KYD process are eligible to perform IPV. If applications are submitted directly by investors, the Mutual Fund may rely on IPV conducted by scheduled commercial banks or authorized AMC employees.

Presently IPV can be carried out by any of the following intermediaries:

Online KYC, or Electronic KYC, is a service offered by Quantum Mutual Fund that allows you to complete your KYC formalities entirely online, without the need for any paperwork. KYC is now mandatory before making investments in Mutual Funds. Online KYC is a simplified process that uses your PAN and Aadhaar for verification.

This initiative by Quantum Mutual Fund provides a paperless KYC process, resolving common challenges faced by investors, particularly those residing in B15 cities or abroad, who previously had difficulty completing IPV. With Online KYC, the entire process is now digital.

Your KYC will be verified within 2-3 business days, depending on the volume of KYC applications received and provided your application is complete and in order.

To ensure a smooth and quick process, we recommend that you have all required documents ready for upload before you begin.

1. Visit our website https://www.quantumamc.com/ekyc/ekyc. Upload scanned copies or images of your address proof and signature, following the instructions provided.

2. Your details will be auto-filled based on the uploaded documents (please review and verify the pre-filled information).

3. Take a selfie in front of yourcamera and for IPV, record a video as instructed.

4. Verify the Contract details, complete the e-sign process, and submit the application.

You may Click here to explore a quick demo of our easy-to-follow and seamless EKYC process.

Note:  The supporting data will undergo independent validation. Quantum Mutual Fund reserves the right to request additional documents, if necessary, to verify the applicant’s Proof of Identity and Proof of Address

Once your application is successfully completed and submitted, Quantum’s team will enter your details into the relevant KRA and CERSAI systems for processing the EKYC and CKYC applications, subject to internal verification of the application and documents.

If the details are not successfully validated or the images are not clear, the same will be communicated to the applicant, and /or the KRA / CERSAI may ask for clarification, and / or reject the KYC application.

Your KYC will be approved and uploaded within 2-3 business days, depending on the volume of KYC applications received, and provided your application is complete and accurate.

Only Resident Individuals (RIs) are eligible to complete Online KYC. At present, other categories of investors, including NRIs and PIOs, are not permitted to use the Online KYC process.

The following documents need to be uploaded to complete the Online KYC process for Resident Individuals:

1. Offline Aadhaar (Zip/XML file)
2. Digilocker 

Note: Only investors with an Aadhaar linked to an active mobile number can complete the E-KYC process. This requires verification through an OTP sent to the mobile number linked with the Aadhaar record.

You can begin transacting as soon as your KYC status is marked as "Under Process," but no later than 5 days. You may also transact anytime after your KYC status is successfully validated on the KRA website

No, you do not need to send any physical documents. The Online KYC process is completely paperless and electronic.

The details of PAN should be written carefully on the application. Also the copy of PAN image uploaded should be clear. PAN allotment letter is not accepted instead of the PAN card.

Once your KYC is registered with any KRA, you will receive a letter or email confirming the registration by KRA. Additionally, you can visit the website of any KRA to verify your KYC status online.

Yes, you can submit a modification request or apply for re-KYC either online or offline, following the processes mentioned above.

No, there are no charges for completing Online KYC through Quantum’s website. This is a completely paperless initiative introduced for the first time in the industry by Quantum Mutual Fund for our prospective investors.

Yes, the size of each document should not exceed 2 MB, and the document must be in PDF, PNG, JPG, or JPEG format.

•	Completely paperless: The process is fully electronic, eliminating the need for paper-based documentation and management
•	Inclusive: The electronic and low-cost nature of Online KYC promotes financial inclusion by making the process accessible to a wider audience
•	Low cost: By eliminating paper verification, movement, and storage, the cost of the Online KYC process is significantly reduced
•	Faster: The service uses electronic data entry and E-IPV, which reduces the time and effort required compared to the physical process. Additionally, the Self-IPV option streamlines the process, removing the need for manual IPV via a web session with our customer care team.