Friends, in the field of finance, mutual funds and shares, you must have heard the CVLKRA term often, but friends, do you know what this CVLKRA is? Or what does CVLKRA mean? And what is the Full Form of CVLKRA (CVLKRA Full Form)?
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If yes then today through this article we will tell you About CVL KRA in detail. What does CVLKRA mean? Or what is the Full Form of CVLKRA? By reading this post you will be able to know About what is CVLKRA? (CVLKRA Full Form)
What is CVLKRA Full Form
So friends, this term CVLKRA is made up of two different terms, CVL and KRA, in which CVL stands for CDSL Ventures Limited and KRA stands for KYC Registration Agency, thus the full form of CVL-KRA is CDSL Ventures Limited KYC Registration Agency.
CVLKRA Full Form : CDSL Ventures Limited KYC Registration Agency
What is CVLKRA (CDSL Ventures Limited KYC Registration Agency)?
As you must have come to know that CVLKRA (CDSL Ventures Limited KYC Registration Agency) is a KYC Registration Agency.
CDSL Ventures Limited is a company that operates as a KYC Enrollment Agency in India. It is also responsible for the necessary paperwork for personal and private accounts as well as for the identification and verification of share buyers.
CVL KRA is one of the KYC Registration Agencies (KRA) in the country. It provides KYC related services for all SEBI compliant fund houses, stock brokers and other agencies.
Know Your Custmer – KYC – It is a one-time process to verify the identity of investors and this process is mandatory for all financial institutions. Earlier the KYC verification process was different for each financial institution like banks, different asset management companies etc. Then KYC Registration Agencies (KRA) were introduced to bring uniformity in the registration process.
As mentioned above CDSL Ventures Limited KYC Registration Agency (CVLKRA) is one of the five KRAs that provide such services. Here you can check your KYC status, download KYC form and verify KYC. Apart from this, CAMSKRA, NSE KRA, Karvy KRA and NSDL KRA are other KYC Registration Agencies in the country.
CDSL Venture Limited is headquartered in Mumbai, Maharashtra.
CDSL Ventures Limited (CVL) is a wholly owned subsidiary of Central Depository Services of India (CDSL). CDSL is the second securities depository in India (the first being NSDL). CVL believes in maintaining its expertise in the securities market and data privacy.
CVLKRA was the first Central-KYC (C- KYC) registration agency for the stock market. CVL KRA maintains investor records in a centralized manner on behalf of intermediaries in the securities market regulated by SEBI. The CVL was previously administered by the mutual fund industry to handle record keeping and customer profiling. Additionally, it also does KYC verification for mutual fund investors.
CDSL Ventures Limited (CVL) is a KYC entity as well as affiliated with CDSL, India’s largest Depository Company. It is a licensed company that provides KYC and personal verification services. Its main objective is to provide a reliable, fair and secure verification process to its customers.
Earlier, investors could easily complete their KYC process by opening an account with any SEBI intermediary and submitting the required documents. But this process led to a lot of duplication of KYC records as the customer had to go through the KYC process separately each time.
Hence, to bring uniformity in the KYC process and eliminate such duplication, SEBI introduced the concept of KRA (KYC Registration Agency). Thus now, there are 5 KYC Registration Agencies (KRA) in India. This includes:
CVL KRA
CAMS KRA
Karvy KRA
NSDL KRA
NSE KRA
As per SEBI guidelines of 2011, investors who want to invest in mutual funds or get KYC done must register with any one of the above mentioned agencies. Once the customers are registered or complete the KYC process, they can start investing in mutual funds.
Process of Registration in CVL KRA
There are various steps involved in the KYC registration process for CVL KRA. Here below those steps are explained in detail.
By contacting an intermediary POS company
You can complete your KYC by approaching an intermediary company like fincash.com to complete your KYC process.
KYC Form Filling :- If the investor wants to complete the KYC process by visiting CVLKRA or any other intermediary, he/she must fill the KYC registration form.
Documents Required for KYC :-
Along with the KYC Form, the customer needs to submit self-attested documents of Proof of Address and Proof of Identity in case of individual registration.
However, in case of a company or an entity, various other documents as prescribed by SEBI need to be submitted.
The customer can easily download the KYC Form from the CVL KRA Official website or collect it from his intermediary company.
KYC Inquiry / KYC Verification :-
After carrying out the necessary KYC inquiries and submitting the KYC documents, the intermediary checks whether the details provided in the KYC Form match with the details provided in the proof submitted. In case there is any update in the details, the intermediary company will update the same in the KRA system and also obtain the relevant documents from the client and submit them to the KYC Registration Agency (KRA).
Apart from this, the intermediary company will also arrange an IPV (In-Person Verification) for further verification of these details. Then they put their stamp on the documents to certify that the KYC Registration Agency (KRA) verification process is complete.
However, if the IPV (In-Person Verification) details are already available in the KYC System, the intermediary company cannot do the IPV (In-Person Verification).
Updating Documents
Once the KYC verification is done, the intermediary company can update the KYC data in 2 ways –
New KYC Online
KYC Bulk Upload
Mediator Company can upload the files of the documents in the file formats given on the official website of CVL KRA – www.cvlindia.com.
Submit Scanned Image
As per the amendments to the KRA regulations by SEBI, the intermediary company only needs to upload the scanned images of the documents on the KRA website. Hence, CVL introduced an option to upload scanned documents on its website. This image upload facility by CVL KRA is for uploading images of both new and existing clients.
Scanning of KYC documents
Finally, all the KYC documents are scanned and collected by CVL KRA on behalf of the intermediary which will be available on the website in the “SCAN_STORE” option. It will also be shown on the bill for easy identification.
How does CVL KRA work?
CVLKRA uses the best of technology and security practices to process, secure and retrieve KYC documents. To work as a Top KYC Registration Agency, it constantly applies necessary changes and also does other necessary processes.
For PAN based registration with CVL KRA, you need a correctly filled KYC form with your signature, apart from this, you need to carry other documents like ID proof and Address proof.
Thereafter, for In Person Verification (IPV) and verification of original documents, the person needs to be present in person.
Apart from the PAN card based process, KYC registration has become easier with E-KYC or Aadhaar based KYC. E-KYC allows you to invest up to 50,000 per year per mutual fund. The process is very quick and easy where one needs to enter their Aadhaar or UIDAI number and then verify the OTP (One-Time Password) received on the registered mobile number.
For investments above Rs 50,000 in e-KYC or Aadhaar based KYC, you will need to complete the PAN-based KYC verification process or the biometric Aadhaar based KYC process.
KYC Form of CVL KRA
You can download the following form from the website of CDSL Ventures Limited (CVL) to get KYC done.
“Individual KYC Form” under CVLKRA
“Non-personal KYC Form” under CVLKRA
“C-KYC Registration Form” to complete the C-KYC registration
“KYC Verification Form” to verify KYC
“Mediator Form” to complete your KYC through CVLKRA
Individuals who want to change their KYC. “CVLKRA Amendment Form” for such as Address etc.
Documents Required for CVL KRA KYC Registration
Apart from filling the KYC form, to complete the KYC registration, the person needs to verify the documents of identity proof and address proof along with the KYC form. Below is the list of acceptable documents for proof of identity and proof of address
Documents acceptable for ID proof
Passport
Driving License
Voter’s ID card
Pan Card
Aadhaar Card
NRGEA Job Card
पते के प्रमाण (Address Proof) के लिए स्वीकार्य डॉक्यूमेंट्स
Electricity Bill
Gas Bill
Bank Account Statement
Landline Bill
Life Insurance Policy
Registered Lease/Rent Agreement
How to Check KYC Status on CVL KRA?
To check KYC status on CVL KRA, you can check your KYC status by visiting the official website of CVL KRA https://www.cvlkra.com/ and clicking on “KYC Inquiry”. You need to enter your Aadhaar number to get the current status of Aadhaar based KYC registration (E-KYC). Similarly, for PAN-based registration, you can repeat the same process and enter your PAN number there.
Investors can also check their KYC status by visiting the official website of any other KRA and filling in their PAN number there.
What are the options in KYC Status?
KYC Registered : If CVL is showing KYC Registered status to check KYC Status on KRA website then it means that your records are verified and successfully registered with KRA.
KYC Under Process : If CVL is showing the status KYC Under Process to check KYC Status on KRA’s website, it means that your KYC documents are being checked by KRA and KYC is currently being processed.
KYC on Hold : If the status KYC On Hold is showing on CVL KRA’s website to check KYC Status, it means that your KYC process is on hold due to the difference between the KYC documents and the details provided by you. The documents / details which are incorrect need to be submitted again.
KYC Rejected : If CVL is showing KYC Rejected status to check KYC Status on KRA’s website, it means that your KYC has been rejected by KRA after verification of PAN details and other KYC documents. This means that you will have to submit a fresh KYC form along with the required documents.
Not Available : If CVL is showing Status Not Available to check KYC Status on KRA’s website, it means that your KYC record is not available in any KRA.
The above 5 KYC statuses can also appear as Incomplete / Existing / Old KYC. In such a situation, you may need to submit fresh KYC documents to update your KYC records.
How to change KYC details in CVL KRA?
KYC (Know Your Customer) is a one-time process while dealing in the market of shares and mutual funds. Once the KYC is completed through any of the SEBI registered intermediaries, the investor is not required to register again while dealing with any other intermediary.
In case of any change in the KYC details, the investor can submit a Change Request Form along with the required documents to their intermediary. CVL KRA will then update the correct details provided by all the intermediaries who have registered their KYC.
Ans : CVLKRA is made up of two different terms CVL and KRA, in which CVL means CDSL Ventures Limited andKRA means KYC Registration Agency.
In this way the Full Form of CVL-KRA is CDSL Ventures Limited KYC Registration Agency.
CVL-KRA Full Form: CDSL Ventures Limited KYC Registration Agency
CVL KRA is one of the KYC Registration Agencies (KRA) in the country. It provides KYC and related services for all SEBI compliant fund houses, stock brokers and other agencies.
Q. What does CVLKRA mean?
Ans : CVLKRA stands for CDSL Ventures Limited KYC Registration Agency is a company that works as a KYC Registration Agency in India. It is also responsible for the necessary paperwork for personal and private accounts as well as for the identification and verification of share buyers.
Q. What is KYC?
Ans : KYC (or Know Your Customer) is a commonly used term for the customer identification process. For better “Know Your Customer” SEBI (Securities and Exchange Board of India) has mentioned some essentials related to KYC norms for Financial Institutions and Intermediaries including Mutual Funds.
KYC – It is a one-time process to verify the identity of investors and this process is mandatory for all financial institutions. All investors investing in mutual funds have to fill the KYC form to get KYC done.
Q. What is the KYC Form?
Ans : KYC Form is a registration form that has to be filled before investing in Mutual Funds. The KYC form is easily available on the mutual fund website or with any of the concerned KRAs. Must read all the instructions properly before filling the form.
Q. Is it necessary to get KYC done to invest in the share market? or is there a discount?
Ans : Yes, filling KYC form is mandatory for all investors who wish to invest in Mutual Fund schemes, irrespective of the amount they need to invest. No exemption is available to an individual or a non-individual.
Q . When is the KYC Form Canceled?
Ans : If there is no required or mandatory information in the KYC form, the further process is likely to be canceled. Investors need to ensure that they follow the guidelines required to register or do KYC.
Q. Is there any special requirement for NRI to get KYC done?
Ans : Yes, it is necessary to verify the foreign address and permanent address along with the attached copy of passport along with other documents. Also, if any document that is proof of identity is in a foreign language, they will have to be translated into English before submission.
For more information about CVLKRA visit the official website of CDSL Venture Limited https://www.cvlkra.com/ . There you will get the process of KYC verification, list of required documents and other related information.
Apart from this, if you want to know about the jobs in this organization, then check the career experience section on their official website. There you will get all the details about CDSL Venture Limited like its history, products and services details, its sectors and business details etc.
So friends, in today’s article, we learned about “what is the Full Form of CVLKRA? CVLKRA Registration Process, How CVLKRA Works, Documents Required for CVLKRA KYC Registration, How to Check KYC Status on CVLKRA Website” etc.
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