It is mandatory for all investors (including guardians, joint holders, NRIs and power of attorney holders) to provide their Income Tax Permanent Account Number (PAN) and also submit a photo copy of the PAN card issued to them by the Income Tax Department at the time of purchase of Units for the first time in scheme. Such photocopy must be verified at the ISCs by producing the original (which shall be returned across the counter) or verified and attested by any AMFI registered distributors, bank managers or judicial magistrate. Applications not accompanied by duly verified copy of the PAN card(s) are liable to be rejected.

However, investors residing in the state of Sikkim are exempt from the mandatory requirement of PAN mentioned above, subject to the AMC being able to verify and ascertain the veracity of the claim of the investors that they are residents of Sikkim, on the basis of sufficient documentary evidence.

Investment up to Rs 50,000/- per year per investor via SIPs, i.e., the aggregate of investments in a rolling 12-months period or in a financial year (hereinafter referred to as 'Micro SIP') have been exempted from the requirement of PAN. However, a duly verified/attested copy of such document(s) as may be prescribed by the AMC/Trustee from time to time, needs to be submitted as the proof of identification in lieu of PAN Card copy. Investors may contact any of the Investor Service Centres (ISCs) of the AMC or Registrar to know the list of acceptable identification documents which may be provided as proof of identification in lieu of PAN. Micro SIP investment will not be subject to common KYC process through CVL. Further, this exemption shall be applicable only to micro SIP investments made by individuals (including NRIs, but not PIOs), Minors and Sole proprietary firms including joint holders. PIOs, HUFs and other categories of investors will not be eligible for this exemption. Also the exemption shall not be applicable to normal purchase transactions up to Rs. 50,000/- which will continue to be subject to the PAN requirement.

All investors need to complete a one-time KYC compliance process, which is mandatory before investing the amount for the first time. For this purpose, investors may submit the prescribed KYC application forms duly filled in together with their photograph, PAN card copy, proof of address/constitution documents and other requisite documents, at any designated 'Point of Service' (PoS) of CDSL Ventures Ltd., a centralized agency presently appointed by the mutual fund industry for KYC process. The list of PoS is available at www.cvlindia.com, and www.amfiindia.com. The above KYC process is required to be complied with only once to enable transacting across a majority of mutual funds.

Applicants intending to apply for units through a Power of Attorney (PoA) must ensure that the issuer of the PoA and the holder of the PoA must mention their KYC Compliance Status and attach proof of KYC Compliance at the time of investment above the threshold. In the event of non compliance of KYC requirements, the Trustee / AMC reserves the right to freeze the folio of the investor(s) folio.

To ensure appropriate identification of the investor(s) under its KYC policy and with a view to monitor transactions for the prevention of money laundering, AMC / Mutual Fund reserves the right to seek information, record investor's telephonic calls and / or obtain and retain documentation for establishing the identity of the investor, proof of residence, source of funds, etc. It may re-verify identity and obtain any incomplete or additional information for this purpose.

The KYC documentation shall also be mandatorily complied with by the investors entering the Register of Unitholders by virtue of operation of law e.g. transmission, etc. The Mutual Fund, AMC, Trustees and their Directors, employees and agents shall not be liable in any manner for any claims arising whatsoever on account of freezing the folios / rejection of any application / allotment of units or mandatory redemption of units due to non-compliance with the provisions of the Act, SEBI circular(s) and KYC policy and / or where the AMC believes that transaction is suspicious in nature within the purview of the Act and SEBI circular(s) and reporting the same to FIU-IND. In terms of the Prevention of Money Laundering Act, 2002, the Rules issued there under and the guidelines/circulars issued by SEBI regarding the Anti Money Laundering (AML Laws), all intermediaries, including Mutual Funds, have to formulate and implement a client identification programme, verify and maintain the record of identity and address(es) of investors.

Investors transacting in the Units of the Schemes through BSE and/ or NSE in a dematerialized mode, (as and when the facility is made available by the AMC) will be subject to KYC formalities carried out by the Depository Participant and this will be considered as sufficient compliance of SEBI circular dated December 19, 2008 on Anti-Money Laundering guidelines.

Investors who have previously complied with the KYC process and are desirous of changing their KYC information such as name, address, status, signature, etc., should submit their request in respect of the same to any of the Point of Services (PoS) appointed by CDSL Ventures Ltd.

Investors/unit holders may contact their distributors, if any, or the ISCs, for any additional information/clarification.