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MF News

SEBI seeks public feedback on standardising mutual fund folio opening and first investment process

24-Oct-25 14:23 Hrs IST

The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing a standardised process for opening mutual fund folios and executing the first investment. The proposal aims to ensure that all new folios are fully KYC-compliant before any transaction or investment is initiated.

Under the proposal, mutual fund folios will be activated only after the Know Your Client (KYC) verification is successfully completed and marked compliant in both the Asset Management Company (AMC) system and the KYC Registration Agency (KRA) database. Investors will be allowed to begin transactions once this verification is confirmed.

SEBI noted that the current sequential verification process sometimes results in KYC non-compliant folios, leading to delays in transactions, non-receipt of redemption proceeds, and an increase in unclaimed dividends. The proposed framework seeks to eliminate these gaps by introducing a uniform and technology-driven process for all fund houses.

The regulator said the standardisation would help reduce investor inconvenience and operational challenges faced by mutual fund companies. A detailed procedure for the new process is outlined in SEBI's draft circular titled 'Process for Opening of Mutual Fund Folios and Execution of First Investment.'

SEBI has invited public comments on the proposal until 14 November 2025, which can be submitted through its official website's online feedback form. The regulator urged investors, intermediaries, and industry participants to share suggestions on the draft framework before it is finalised.

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Attention Investor :

"Prevent unauthorised transactions in your account ; Update your mobile numbers/email IDs with Us. Receive information of your transactions directly from Exchange on your mobile/email at the end of the day” - Issued in the interest of Investors"

"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."

"No need to issue cheques by investors while subscribing to Equity IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

A Muthoot M George Enterprise