As you are aware, eKYC caps maximum MF investment per AMC to 50000 per financial year. The Centralized KYC is must to remove this cap limitation. Also CKYC can be used for many other useful financial instruments. My KYC was Aadhar based OTP which is termed as eKYC. Nowadays Aadhar based eKYC is chargeable. eKYC has been limiting my MF investment to 50k per year. This will hinder the SIP top-up advantage. Hence I decided to move towards CKYC which will ensure full fledged investment without any cap limit. The CKYC needs In Person Verification (IPV) of documents. Hence, I took break from work for couple of hours to apply for CKYC at CAMS office where my eKYC is registered.
I chose Dickenson road CAMS for furnishing my KYC documents. The office is located right above the Bhima Jewellers near Manipal Centre. Pay and Park services are available for both two & four wheelers nearby building. The pay and park facility levies Rs.10 per hour for two wheelers. Don't expect a sophisticated parking arena. The parking area is floored with loose mud. So be heedful while parking bike with centre stand. There are high chances of bike tumbling if not erected properly on firm ground. Seek the help of supervisor. Fortunately, the area is shrouded with tall trees and surrounded by concrete buildings which preclude the sunlight into the region. This avoids the fuel evaporation in bikes and baking of car interiors. I am not sure on availability of visitor parking in CAMS building premises.
Couple of weeks back, I had enquired about the required documents for promoting to CKYC. The following documents are required
1) Original PAN card (for ID proof)
2) Original Address Proof for permanent residence (I carried aadhar)
3) Original Address Proof for correspondence (If different from permanent address)
4) One Passport size photograph
5) One Self Attested Photocopies of (1), (2) & (3)
Additionally, following details I learnt after reaching CAMS office
1) KYC form needs to be filled up. Simple and straightforward
2) Carry your own stationery (Blue pen for filling application & Glue to affix your photograph). I do carry stationery whenever there is official/bank work.
3) If your correspondence address is different than permanent address, then address proof for the correspondence address also needs to be furnished along with permanent one.
4) Note down Folio number one of MFs you invested. This needs to be mentioned in form. I noted one of MF folio number from myCAMS app.
After entering CAMS office, pull token from automatic token vending machine and sit back. When your turn arrives, the appropriate counter will be displayed. There were four counters at Dickenson road office. The office is fully Air conditioned. A big relief for bike rider after wriggling out of traffic heck under blistering summer midday Sun.
I filled the KYC form and furnished the originals. There was tad deviation from user name in PAN and what was mentioned in eKYC. I mentioned that even Income Tax site has successfully linked my Aadhar with PAN, so this deviation is not concern. The PAN authority adds father name as last name for individuals without last name. After the staff was convinced, further processing commenced. It took and hour to complete the procedure. The office personnel declared that KYC is done and we get intimation in 15-20 days. I was relieved by listening to the personnel but cant rest till I get final go to increase my cap. Meanwhile, I did not receive any acknowledgement or SMS on form submission. I am not sure if that is OK.
The CAMS office is closed on 2nd and 4th Saturdays and Public holidays inline with government holidays. There is no fee to apply for CKYC
Post the completion of work, I rode towards Indiranagar and enjoyed sumptuous meal at MTR. They serve meal from 12:30 to 3:30. Make sure you park the bike at designated place. Parking over footpath will invite towing of your vehicle and MTR has clearly stated it. I had bitter experience already. Fortunately, I spotted a tow van which awoke my inner conscious to park at right place. Post meals, its back home and work resume.
You can check status description here: https://kra.ndml.in/kra-web/jsps/pos/KYCStatusDescription.html
You can check status Karvy site or CAMS KRA site: https://camskra.com/
Update as on 25-04-2019
Today I checked CAMS KRA website and the KYC status is updated to "Under Process" with yesterday's date i.e. date of submission.
Update after a week (02-05-2019)
Today i checked status and it says KYC Registered. Hope to receive 14 digit kyc soon. It takes 2 weeks I heard. Fingers crossed
Update after 15 days
In contrast to what was mentioned by CAMS staff, I did not receive any CKYC ID after gap of 15 days. When I contacted CAMS office, they asked me to contact one of mutual fund house. When contacted with SBI MF, they in turn asked me to check with CAMS. Nobody likes such ping-pong but have to bear with it. This imbroglio somewhat startled me. I was tempted to write a grievance email to CAMS (grievancesATcamskra.com ) and I did so immediately. The CAMS office promptly replied back asking its staff to create CKYC id. 3 days later one of the staff from SBI MF replied with generated CKYC ID and I was elated. That's the end of chronicles of procuring CKYC ID. Sometimes destiny makes you struggle for trivial things which is frustrating at outset but satisfying during conclusion.
I believe once KYC status is updated as "KYC Registered - New KYC" with IPV flag to true, you can invest in MF beyond 50k per financial year. The generation of CKYC ID is just a formality. Just a surmise and not to be taken
I chose Dickenson road CAMS for furnishing my KYC documents. The office is located right above the Bhima Jewellers near Manipal Centre. Pay and Park services are available for both two & four wheelers nearby building. The pay and park facility levies Rs.10 per hour for two wheelers. Don't expect a sophisticated parking arena. The parking area is floored with loose mud. So be heedful while parking bike with centre stand. There are high chances of bike tumbling if not erected properly on firm ground. Seek the help of supervisor. Fortunately, the area is shrouded with tall trees and surrounded by concrete buildings which preclude the sunlight into the region. This avoids the fuel evaporation in bikes and baking of car interiors. I am not sure on availability of visitor parking in CAMS building premises.
Couple of weeks back, I had enquired about the required documents for promoting to CKYC. The following documents are required
1) Original PAN card (for ID proof)
2) Original Address Proof for permanent residence (I carried aadhar)
3) Original Address Proof for correspondence (If different from permanent address)
4) One Passport size photograph
5) One Self Attested Photocopies of (1), (2) & (3)
Additionally, following details I learnt after reaching CAMS office
1) KYC form needs to be filled up. Simple and straightforward
2) Carry your own stationery (Blue pen for filling application & Glue to affix your photograph). I do carry stationery whenever there is official/bank work.
3) If your correspondence address is different than permanent address, then address proof for the correspondence address also needs to be furnished along with permanent one.
4) Note down Folio number one of MFs you invested. This needs to be mentioned in form. I noted one of MF folio number from myCAMS app.
After entering CAMS office, pull token from automatic token vending machine and sit back. When your turn arrives, the appropriate counter will be displayed. There were four counters at Dickenson road office. The office is fully Air conditioned. A big relief for bike rider after wriggling out of traffic heck under blistering summer midday Sun.
I filled the KYC form and furnished the originals. There was tad deviation from user name in PAN and what was mentioned in eKYC. I mentioned that even Income Tax site has successfully linked my Aadhar with PAN, so this deviation is not concern. The PAN authority adds father name as last name for individuals without last name. After the staff was convinced, further processing commenced. It took and hour to complete the procedure. The office personnel declared that KYC is done and we get intimation in 15-20 days. I was relieved by listening to the personnel but cant rest till I get final go to increase my cap. Meanwhile, I did not receive any acknowledgement or SMS on form submission. I am not sure if that is OK.
The CAMS office is closed on 2nd and 4th Saturdays and Public holidays inline with government holidays. There is no fee to apply for CKYC
Post the completion of work, I rode towards Indiranagar and enjoyed sumptuous meal at MTR. They serve meal from 12:30 to 3:30. Make sure you park the bike at designated place. Parking over footpath will invite towing of your vehicle and MTR has clearly stated it. I had bitter experience already. Fortunately, I spotted a tow van which awoke my inner conscious to park at right place. Post meals, its back home and work resume.
You can check status description here: https://kra.ndml.in/kra-web/jsps/pos/KYCStatusDescription.html
You can check status Karvy site or CAMS KRA site: https://camskra.com/
Update as on 25-04-2019
Today I checked CAMS KRA website and the KYC status is updated to "Under Process" with yesterday's date i.e. date of submission.
Update after a week (02-05-2019)
Today i checked status and it says KYC Registered. Hope to receive 14 digit kyc soon. It takes 2 weeks I heard. Fingers crossed
Update after 15 days
In contrast to what was mentioned by CAMS staff, I did not receive any CKYC ID after gap of 15 days. When I contacted CAMS office, they asked me to contact one of mutual fund house. When contacted with SBI MF, they in turn asked me to check with CAMS. Nobody likes such ping-pong but have to bear with it. This imbroglio somewhat startled me. I was tempted to write a grievance email to CAMS (grievancesATcamskra.com ) and I did so immediately. The CAMS office promptly replied back asking its staff to create CKYC id. 3 days later one of the staff from SBI MF replied with generated CKYC ID and I was elated. That's the end of chronicles of procuring CKYC ID. Sometimes destiny makes you struggle for trivial things which is frustrating at outset but satisfying during conclusion.
I believe once KYC status is updated as "KYC Registered - New KYC" with IPV flag to true, you can invest in MF beyond 50k per financial year. The generation of CKYC ID is just a formality. Just a surmise and not to be taken
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