Client Onboarding & KYC Policy
Standard operating procedures for customer identification, AML compliance, and digital verification under SEBI, PMLA, and AMFI guidelines.
Commitment to Anti-Money Laundering (AML) & Integrity
Nimesh C. Shah (ARN-363616) adheres strictly to the Prevention of Money Laundering Act, 2002 (PMLA) and SEBI Master Circulars on Know Your Client (KYC) norms. We ensure that mutual fund investments are routed through verified banking channels and that all investor records conform to current regulatory mandates before transactions are processed.
Onboarding & KYC Verification Lifecycle
Comprehensive end-to-end verification steps required for mutual fund investors
PAN & CKYC Verification
Verification of Permanent Account Number (PAN) with the Income Tax Department database and verification of KYC status across SEBI-registered KRAs (CAMS, KFin, CVL, NDML, DotEx) or Central KYC Registry (CKYCR).
Officially Valid Documents (OVD)
Submission of valid identity and address documentation including Aadhaar (via masked Aadhaar / DigiLocker / offline XML), Passport, Voter ID Card, or Driving License in strict conformity with SEBI master circulars.
In-Person Verification (IPV) / Video KYC
Mandatory In-Person Verification (IPV) performed by certified personnel or secure digital Video Customer Identification Process (V-CIP) featuring geo-tagging, live photo capture, and facial matching.
Bank Account Validation (Penny Drop)
Validation of bank details through automated Penny Drop (NPCI API) or verified cancelled cheque / bank statement with investor name pre-printed, ensuring strict compliance with third-party payment prohibitions.
FATCA & CRS Compliance
Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) self-declaration confirming country of tax residence, citizenship, and tax identification details.
Nomination Registration
Mandatory registration of one or up to three nominees with percentage allocation or formal opt-out declaration in compliance with SEBI circulars on asset transmission.
Zero Tolerance for Third-Party Payments or Cash
In strict compliance with AMFI Best Practice Guidelines and SEBI regulations, we do not accept cash payments or third-party cheques/transfers under any circumstance. All investment payments must originate exclusively from the bank account registered and verified under the primary investor's name.