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What is the meaning of KYC?

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KYC means Know Your Customer. In terms of PMLA, every intermediary (including Mutual Funds) is required to have a Client Identification Program and frame a KYC policy, which means knowing your customer by seeking information and supporting documentation about the customer’s identity and address, besides other information like nationality, income source, occupation etc. • To which category of investors / Unit holders are these KYC requirements applicable? The requirement is applicable to all categories of investors eligible to invest with us viz., Resident Individual investors, Non Resident Indians, Persons of Indian Origin (PIO), HUF, Societies, Partnership Firms, Trusts, Companies, Body Corporate, Public Sector Undertakings, Banks, Financial Institutions, Mutual Funds, Foreign Institutional Investors and such other individuals / institutions, including any holders / issuers of Power of Attorney. • What are the requirements for Resident Indians? The documents required for a Resident ... more
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KYC means Know Your Client. In terms of PMLA, every intermediary (including Mutual Funds) is required to have a Client Identification Program and frame a KYC policy, which means knowing your customer by seeking information and supporting documentation about the customer?s identity and address, besides other information like nationality, income source, occupation etc. more
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KYC means Know Your Customer. In terms of PMLA, every intermediary (including Mutual Funds) is required to have a Client Identification Program and frame a KYC policy, which means knowing your customer by seeking information and supporting documentation about the customer's identity and address, besides other information like nationality, income source, occupation etc. • To which category of investors / Unit holders are these KYC requirements applicable? The requirement is applicable to all categories of investors eligible to invest with us viz., Resident Individual investors, Non Resident Indians, Persons of Indian Origin (PIO), HUF, Societies, Partnership Firms, Trusts, Companies, Body Corporate, Public Sector Undertakings, Banks, Financial Institutions, Mutual Funds, Foreign Institutional Investors and such other individuals / institutions, including any holders / issuers of Power of Attorney. • What are the requirements for Resident Indians? The documents required for a Resident ... more
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