Q - What are the most frequent reasons for video KYC being rejected?

The most frequent reasons are -

  • Unclear images (POI / PAN)
  • Voice of the investor not clearly audible as part of the video
  • Face of the investor not clearly visible as part of the video
  • Address submitted as part of the onboarding form does not match to the address on the submitted document

Q - What legal / business agreements are required to be able to offer video KYC?

The distributor needs to sign a channel partner agreement with the AMC

Q - Is it mandatory for the user to place an investment order along with completing the video KYC?

Yes. An investment order shall have to be placed with the partner AMC for completing the KYC.

Q - Can the order be placed in a zero balance folio?

No. As per regulation, an investment has to be placed along with the KYC into a scheme of the partner AMC.

Q - Is the user allowed to place an order in any scheme of the partner AMC (liquid/equity/debt)?

Yes

Q - What is the cut off time for processing the KYC request?

  • Transaction orders along with KYC requests received till cut off time of 3 PM shall be processed on the same day, ie, T
  • Transaction orders along with KYC requests received post 3 PM shall be processed on T+1 day

Q - Can the existing transaction order be maintained in pending state, while the user can submit a fresh KYC request on T+1?

No. A new KYC request and transaction order respectively shall have to be created again.

Q - How can the distributor check the status of the KYC request for the user?

The distributor can use the check KYC status.

  • For liquid schemes at 4.30 PM on T day. If the status is “rejected”, the KYC request and transaction order can be assumed as failed.
  • For equity and debt schemes at 8.30 PM on T day. If the status is “rejected”, the KYC request and transaction order can be assumed as failed.

Sample video


*The data in this video has been created for demo purpose only. It does not belong to any living individual.