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Another regulatory action has been taken now. This time, a new KYC guidelines has been issued by the regulators effectively applicable from the 1st of April 2024.The new KYC norm has made investors’ life tough as they are making transactions difficult for them. Some of them are unable to do any transaction at all whereas some can, with doing their KYC again. So, what has changed now. How to continue with a hassle – free transactions ?
The reasons to face such challenges are the previously submitted documents. As per the new guidelines most of the documents provided earlier are considered insufficient and do not qualify to validate your KYC.
The guideline has put the investors’ status under three categories of as per the investors’ existing documents with the SEBI. 

1. KYC Validated: If you fall under KYC Validated status, that means you have done it with AADHAR card and all your transactions will be hassle free. No restrictions  in doing transactions. 
2. KYC Registered and Verified: The Registered and Verified status gives you the leverage to transact hassle-free in the pre-invested funds, but you need to do re- KYC with OVD ( Officially Valid Document) everytime you invest in new schemes of AMC. This means you had used other than AADHAR documents to do your KYC. 
3. KYC on hold: When your KYC is on hold, you cannot do any transaction in any of the funds. Either new, old or current scheme, you first need to register, verify and validate with your OVDs and submit them in physical forms.
4. The OVDs: The OVDs or the Officially Valid Documents acceptable at present are as follows –
   • Passport,
   • Driving License,
   • Election commission of India issued Voter’s Identity Card
   • Proof of possession of your Aadhar number
   • Letter issued by NPR ( National Population Register) bearing your details like name and address.
   • NREGA issued Job Card duly signed by State Govt. official.
   • Any other notified documents as the directives of the Central Government.

The conclusion is, your transactions are hassle-free if your KYC is Validated and for this you need to get your KYC done by your AADHAR Card.