KYC know your client norms for mutual fund investment

I used to invest in mutual funds a few years back. I wanted to restart some of that. So when I was reading up on mutual funds I saw that KYC (know your client) norms had been implemented.

On the internet, the phone number and address of some places in trivandrum were given.
But then I thought about enquiring at CAMS (computer management service pvt ltd) office at Pattom.

The staff in the office said that they handle KYC verification there.

I was asked to fill a one page form, and provide self attested pan card copy and address proof (like driving licence, voter id etc).

I was given an acknowledgement .

On that cvlindia.com was given as the website to make inquiry about the kyc application.

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investing news for foreign investors in indian mutual funds

It seems that RBI is going to allow foreign individuals to invest directly upto 10 ? billion dollars in debt and equity schemes of mutual funds in india. They will have to satisfy the KYC (know your client) norms set by SEBI subject to other rules set by rbi and sebi from time to time.

The DP and domestic MF companies will take up the KYC of the foreign clients.


The question is if this will increase inflow of capital into indian mutual funds?
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downgrading of the US credit rating

It seems that some credit rating agency has downgraded the credit rating of the US from AAA to AA+.
all the arguments over raising the debt ceiling the last week might very well be connected to this.
all the old tax cuts that should have expired soon seem set to continue and that might very well be another reason.
Also the us federal budget is running with a deficit of around 1.4 trillion.

What might be the future implications of this?

For one thing most of the stock markets around the world seem to in a sell off mood.

Will interest rates go up ?

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price inflation in india

Today I bought gingelly oil (nallenna) which cost about Rs. 80/- for half a litre.
Coconut oil (velichenna ) prices have also been soaring from about Rs. 75 /- a kilo (some months back) to close to Rs.120/- per kilo.
The sugar I bought today cost about Rs.35/- per kg.
The kayam powder cost about Rs.43 /- for 50 grams.
The price of vim drops (cleaning solution) has gone up to around 80 rupees from around 70 rupees some months back.
The price of cooking gas (lpg) has also gone up.
The minimum cost of bus tickets is going to be increased in kerala.

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