Know Your Customer or KYC for mutual fund services is much like that for any other financial service. What is KYC? It's a customer identification procedure compulsorily carried out by financial institutions like fund houses and banks. KRAs or KYC Registration Agencies registered with the Securities and Exchange Board of India are responsible for maintaining KYC records. The RBI set up KYC guidelines back in 2002. The SEBI master circular published on Anti Money Laundering Standards stresses the need for this…