Question reg. KYC

[John78]

Hi,

I have invested on 2011 with SBI and Reliance Tax saving and I have completed the KYC that time with the help of my adviser. As I have completed KYC before Jan 2012, I need to submit the KYC again. I found that SBI is serviced by CAMS and Reliance is serviced by Karvy. Do I need to submit KYC documents on both?

I submitted the KYC documents on CAMS recently and they told that it will take one month time for getting updated. So, I belive I need to wait for another month before I do any transactions. When I visited CAMS office, few people were complaining that their KYC status is not updated even after 45-60 days.

I am planning to invest on HDFC MF now. Is there anyway I can do it now? I don't mind to visit HDFC and submit the KYC documents again to HDFC if required.

Let me know.

Thanks,
John

 

[KoolSIM]

Not sure about this, but I think since you have submitted your documents for KYC again, that should be enough. You don't need to do it again at HDFC. Also, I believe you can start transacting with the KYC receipt that you must have got when you submitted your form and receipt.

I know when KYC first came into existence, I didn't get the KYC Compliance approval for nearly a month or two, but I could transact with the receipt back then.

 

[John78]

They haven't gave any receipts for me. They said, i will get the acknowledgement through post.