Important Update : NRI KYC Procedures and Phone Number Verification

Please take note of the following scenarios and their respective resolutions for NRI’s.

✅ Existing NRIs with a 10-digit Indian Mobile Number on KYC:

1. KRAs (KYC Registration Agency) are currently validating email IDs and phone numbers for all clients, including NRIs with Indian mobile numbers. If your phone number is not verified through OTP, your KYC status may be flagged as ‘on hold’.

2. If you have changed your Indian mobile number or it is no longer valid, you will need to update your KYC information with your new Indian mobile number, as it is mandatory.

3. If you do not possess a valid Indian mobile number you have the option to provide the phone number of a family member with an active Indian SIM card, along with a declaration form.

4. Alternatively, if you are uncomfortable sharing another individual’s phone number, you may apply for an eSIM with any telephone operator.

5. All modifications to NRI KYC must be completed physically by providing all necessary documents as applicable in hard copies.

✅ Existing NRIs with Foreign Mobile Numbers on KYC Form:

1. NRIs who have provided foreign mobile numbers are exempt from the email ID and phone number validation process. However, your PAN must be flagged as an NRI PAN.

2. If you have encountered a ‘on hold’ KYC issue, you will need to rectify your residential status in your PAN and validate your Kyc.

✅ Existing NRIs who did not provide any mobile number on the KYC form:

NRIs with a NRI Pan are exempt from this requirement and can continue investing in mutual funds without any disruption.

We understand that these updates may require some action on your part, and we appreciate your cooperation in ensuring your KYC compliance.

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By Team WM

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