Question 12 of 13
Whose KYC needs to be completed in the case of an application by a minor?
A
The minor
B
The guardian
C
Any family member of the minor
D
No KYC is required in the case of applications by minors.
Correct Option:
B
Explanation
For a mutual fund investment made on behalf of a minor, the guardian's KYC must be completed. The guardian operates the account until the minor attains the age of majority, after which the required formalities are completed.
