The Securities and Exchange Board of India (Sebi) has extended the deadline for NRIs with “KYC Registered” status to invest in mutual funds without additional documentation until April 30, 2025. This relaxation, communicated through an internal memo to KYC registration agencies (KRAs), aims to facilitate investments by NRIs by allowing them to continue investing in new mutual fund schemes easily.

Previously, NRIs with KYC registered status had to provide additional documents when making new investments. However, Sebi’s recent amendments now allow mutual fund investors to obtain “KYC Registered or TVC Validated” status by validating either their mobile number or email ID, streamlining the process.

To ensure seamless investing, NRI investors should verify their KYC status through any of the five KRAs’ websites: CAMS KRA, CVL KRA, Karvy KRA, NDML KRA, and NSE KRA. If their status is “KYC Validated,” they can continue investing without any hurdles. Those with “KYC Registered” status need to update their status to “KYC Validated” using Aadhaar-based validation to invest beyond April 30, 2025.

In case the KYC status is “On-Hold,” NRIs must undergo the KYC process again, updating necessary details through the KRA website or physically submitting documents. While online remediation for KYC is currently unavailable for NRIs, they can ensure a smooth process by ensuring their mobile number or email ID is updated and validated in the KVC records.
Sebi’s relaxation of KYC rules aims to make mutual fund investments more accessible for NRIs, facilitating their participation in India’s financial markets.