![All you want to know about KYC rule relaxation for MF investors](https://cdn.magzter.com/1574835453/1716762267/articles/icClsGaVn1716773247160/ALL-YOU-WANT-TO-KNOW-ABOUT-KYC-RULE-RELAXATION-FOR-MF-INVESTORS.jpg)
One is the withdrawal of the mandatory requirement of linking the PAN with the Aadhaar from May 14, and the other is the doing-away of the mandatory inputting of a nominee in case if the MF investment account is a joint account from April 30.
What's KYC registration?
The know-your-client (KYC) regulation is the process by which financial entities such as commercial banks, mutual fund houses and stock brokers are asked to verify an investor's identity before being allowed to invest in stocks or mutual funds or enter the equity markets through mutual fund schemes.
In a revised circular issued on May 14, the regulator has done away with the requirement of the mandatory checking of PAN-Aadhaar link, offering a big relief to both existing investors as well as those looking to enter the market either directly into equities or passively through the mutual funds route the two investment avenues which have been rocking in recent months. Linking these two official identity documents enables an investor the all-important 'KYC-registered' status. In the second relief, it had done away with the mandatory nominee demand for joint MFs investments from April 30.
And all that the regulator wanted from an investor was to prove her/his identity based on the 'officially valid document (OVD) such as the Aadhaar, passport, the PAN number or the voter ID card.'
What's the MF nomination?
Bu hikaye The Morning Standard dergisinin May 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Morning Standard dergisinin May 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
![Sub Weghorst snatches winner for Netherlands](https://reseuro.magzter.com/100x125/articles/20402/1735651/AMF4A_TJl1718590378899/SUB-WEGHORST-SNATCHES-WINNER-FOR-NETHERLANDS.jpg)
Sub Weghorst snatches winner for Netherlands
SUBSTITUTE Wout Weghorst snatched a late winner for the Netherlands in a 2-1 victory over Poland on Sunday in their opening Euro 2024 clash.
![ENGLAND LIVE TO FIGHT ANOTHER DAY](https://reseuro.magzter.com/100x125/articles/20402/1735651/l9XYV0Btu1718590309372/ENGLAND-LIVE-TO-FIGHT-ANOTHER-DAY.jpg)
ENGLAND LIVE TO FIGHT ANOTHER DAY
After a roller-coaster group stage, Buttler & Co qualify for Super 8s, but will have their task cut out from here
![Why opening Family Investment Funds in GIFT City makes sense](https://reseuro.magzter.com/100x125/articles/20402/1735651/2TWMJSxTL1718590192805/WHY-OPENING-FAMILY-INVESTMENT-FUNDS-IN-GIFT-CITY-MAKES-SENSE.jpg)
Why opening Family Investment Funds in GIFT City makes sense
FIFs in GIFT City have a wide range of permissible investments and enjoy tax benefits, including a tax holiday on business income for up to 10 years
![Swiss conference agrees territorial integrity of Kyiv must be respected](https://reseuro.magzter.com/100x125/articles/20402/1735651/2EU_aZKpT1718590030238/SWISS-CONFERENCE-AGREES-TERRITORIAL-INTEGRITY-OF-KYIV-MUST-BE-RESPECTED.jpg)
Swiss conference agrees territorial integrity of Kyiv must be respected
Ukrainian President Volodymyr Zelenskyy hailed the first steps toward peace at the meeting
![Biden challenged to cognitive test](https://reseuro.magzter.com/100x125/articles/20402/1735651/nvd9fbwNK1718590115270/BIDEN-CHALLENGED-TO-COGNITIVE-TEST.jpg)
Biden challenged to cognitive test
DONALD Trump on Saturday night suggested President Joe Biden \"should have to take a cognitive test,\" only to confuse who administered the test to him in the next sentence.
![Plan to relocate tigresses to Palamu reserve](https://reseuro.magzter.com/100x125/articles/20402/1735651/ZNxxgw4eG1718589938544/PLAN-TO-RELOCATE-TIGRESSES-TO-PALAMU-RESERVE.jpg)
Plan to relocate tigresses to Palamu reserve
TO retain the four tigers which have migrated to Palamu Tiger Reserve (PTR), efforts are underway to relocate at least two tigresses and one tiger from another reserve.
![Houses razed as Yadav govt targets beef mafia'](https://reseuro.magzter.com/100x125/articles/20402/1735651/JE-3sTVWE1718589882357/HOUSES-RAZED-AS-YADAV-GOVT-TARGETS-BEEF-MAFIA.jpg)
Houses razed as Yadav govt targets beef mafia'
AHEAD of the Eid-Ul-Adha (festival of sacrifice), the Mohan Yadav-led BJP government is cracking down against the \"beef\" mafia in Madhya Pradesh.
![Jammu forests new terror hubs](https://reseuro.magzter.com/100x125/articles/20402/1735651/Kx5LXytYp1718589797161/JAMMU-FORESTS-NEW-TERROR-HUBS.jpg)
Jammu forests new terror hubs
65 people, including 36 security personnel, killed in Jammu region in over 30 months.
Railways forms panel to look into speed limit violations by train drivers
CONCERNED over loco pilots (train drivers) violating speed limits, the Railway Board has constituted a committee to look into such instances.
![It's for parties to decide new Speaker, I have no role in it, says Om Birla](https://reseuro.magzter.com/100x125/articles/20402/1735651/XRb9A0kp61718589662515/ITS-FOR-PARTIES-TO-DECIDE-NEW-SPEAKER-I-HAVE-NO-ROLE-IN-IT-SAYS-OM-BIRLA.jpg)
It's for parties to decide new Speaker, I have no role in it, says Om Birla
WHILE all eyes are on the crucial election to select the new Lok Sabha Speaker on June 26, outgoing Lok Sabha Speaker Om Birla on Sunday said he has no role in the decision and it was for the political parties to decide on the new Speaker and the Deputy Speaker.