You should check if your KYC has indeed been updated. To check KYC status, you can visit any KRA website
When you change jobs and move cities, among other things, it is important to update your know-your-client (KYC) records to ensure you keep getting communication to the address where you shift to. Even a small change like a new phone number or email, calls for an update.
These days, mutual funds send a consolidated account statement (CAS) for all your holdings. If you have a demat account, then either of the two depositories, the National Securities Depository Ltd (NSDL) and Central Depository Services (India) Ltd (CDSL), sends you a CAS with holdings across MFs, shares, listed bonds and debentures and other capital market instruments that you may have invested in. These statements come to you via email if you submitted an email ID in your original KYC application.
How to update KYC?
Download the “change in KYC detail” (visit camskra.com and go the downloads section). Fill it and submit it to an intermediary you have an association with. An intermediary is a mutual fund, your depository participant like your bank or stock broker, your portfolio management services firm and any such capital market firm through which you have invested. You can only go to an intermediary with whom you have a relationship with.
There’s an exception for MF investors. Since MFs are serviced by registrar and transfer agents (R&T), you can go to your R&T. For MFs serviced by Computer Age Management Services (Cams) Ltd, you can go to any Cams’ office and for funds services by Karvy Computershare (another large R&T in the industry), you can go to a Karvy office.
Once you submit the form and the new details, your intermediary will upload the same in the systems of a KYC-registration agency or KRA that it is associated with. There are five KRAs as of today—CAMSKRA (by Cams), CDSL Ventures Ltd (a division of CDSL), NSDL Database Management Ltd (a subsidiary of NSDL), DotEx International Ltd, a unit of the National Stock Exchange and KARVY KRA (by Karvy). These are agencies that are in charge of doing your KYCs and storing your records. And this is where your change in addresses or phone numbers and other details of your existing KYCs is meant to reach.
Things to remember
You may have given a different mobile number to your fund house in the past than what you give to your KRA at the time of updating records. In this case, some fund houses overwrite the old phone/email information with the new one. Other fund houses don’t overwrite; they keep both the old and new records in their files. Address changes, however, are always updated.
Keep an eye out if the changes have been carried and get in touch with individual fund houses if they haven’t.
In general, you can check if your KYC has indeed been updated. Visit any KRA website and click on “check your KYC status”. Here, you can keep a track of both your new KYCs registered as well changes made to your existing KYC details.