Linking Aadhaar to mutual fund folios
According to recent developments, it is mandatory for mutual funds to obtain the Aadhaar number of investors and link the same to the mutual fund folios. In this regard, one can easily link one's Aadhaar id to the mutual fund folio by following a simple online procedure available on the website of one of the KYC registration agencies (KRA), CAMS.
One can use the following link to access this service: https:http:www.camsonline.com InvestorServicesCOL_Aadhar.aspx
Who can use it?
This facility can be used for updating Aadhaar number for mutual funds serviced by the KRA servicing the respective mutual funds. It is a good idea to check whether the mutual fund investments are being serviced by the KRA offering the facility.
Once the investor accesses the link, he is required to enter the PAN, Aadhaar number, email id and mobile number. Upon adding these details, the investor must choose the AMCs where he wishes to link his Aadhaar number as a primary holderjoint holder or guardian.
Once details are submitted, the investor will receive an one time password (OTP) on his or her registered email id and mobile number. The OTP must be entered in order to authenticate the linking.
Once the OTP is entered, the process is completed and the investor shall receive a confirmation of the same by email.
Points to note
To avail this facility, it is necessary that the mobile number provided is registered with the Aadhaar database.
The online Aadhaar seeding facility is currently available for existing investors only.
This facility may soon be available on other mutual fund KRA websites.