CDSL KYC KRA (Know Your Customer - Know Your Relationship Acknowledgment) is a mandatory process implemented by the Central Depository Services (India) Limited (CDSL) to verify the identity and relationship details of investors. It aims to enhance the safety and transparency of the securities market while ensuring compliance with regulatory requirements.
Pros:
Cons:
Year | Number of KYC Done | Growth Rate |
---|---|---|
2020 | 12.5 Crore | 15% |
2021 | 15.3 Crore | 22% |
2022 (Jan-Sep) | 11.9 Crore | 18% (annualized) |
Source: CDSL Annual Report
Name | Website |
---|---|
CAMS | https://www.camskra.com |
Karvy | https://www.karvykra.com |
NSDL | https://nsdl.co.in/kra |
CDSL Ventures | https://www.cdslkranmf.com |
Step | Description |
---|---|
1 | Visit the website of your Demat account provider. |
2 | Go to the 'KYC' section. |
3 | Enter your KRN and click 'Submit'. |
4 | Your KYC details will be linked to your Demat account. |
Story 1:
A man named Harry visited a CDSL KRA office to update his KYC. When asked for his occupation, he proudly proclaimed, "I'm a professional napper." The officer was puzzled but verified his details anyway.
Lesson: Be honest with your KYC details, even if they may sound unusual.
Story 2:
Two friends, Sally and Jessica, were discussing KYC. Sally said, "I hate providing all this sensitive information." Jessica replied, "Don't worry, it's like giving your phone number to a telemarketer. They'll call you once in a while, but you can hang up."
Lesson: Understand that KYC is an ongoing process that requires periodic updates.
Story 3:
A businessman named Mark submitted his KYC documents but forgot to sign the form. When called by the verification officer, he exclaimed, "Oh dear! I thought they wanted my autograph."
Lesson: Pay attention to the instructions and ensure completeness of the KYC form.
If you have not yet completed your CDSL KYC KRA, we strongly encourage you to do so at the earliest. Visit a registered CDSL KRA agency or download the form online and submit it with the necessary supporting documents. By adhering to CDSL KYC KRA, you contribute to the safety and transparency of the securities market and safeguard your investments from potential risks.
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