Securities and Exchange Board of India (SEBI) and stock exchanges like BSE have recently issued circulars regarding the linking of Aadhaar number to Demat Accounts for stock trading.
The Bombay Stock Exchange (BSE) issued a circular few days back, wherein they have informed all Demat account holders to link their accounts with Aadhaar on or before December 31, 2017.
BSE has also referenced to Prevention of Money Laundering (Maintenance of Records) Rules, 2005, which was amended on June 1st, 2017 to make provision of Aadhaar as a form of eKYC for stock trading.
What about Mutual fund investments? – Yes, very soon it is going to be mandatory to link your Aadhaar number to your Mutual Fund investment folios.
As per the recent amendments to Prevention of Money Laundering Act (PMLA) Rules, 2017, Financial Institutions like Mutual Funds are mandated to obtain Aadhaar Number from their customers and link the same to the respective accounts / Folios.
How to link Mutual Fund folios with Aadhaar number online through CAMS portal?
CAMS (Computer Age Management Services) is the first R&T agent to provide an online facility to link Aadhaar number to your existing mutual fund folios.
CAMS is the main R&T agent and services more than half of the mutual fund industry. CAMS serviced Funds are as below ;
- Birla Sun life Mutual Fund
- DSP Blackrock MF
- HDFC Mutual Fund
- ICICI Prudential MF
- IDFC MF
- IIFL MF
- Kotak Mutual Fund
- L&T MF
- Mahindra MF
- PPFAS MF
- SBI MF
- Shriram MF
- TATA mutual fund &
- Union bank MF
If you have invested in any of the schemes offered by the above listed Mutual Fund houses, you may kindly follow the below steps to link your aadhaar number to multiple mutual fund schemes in one go.
- Kindly visit CAMS online facility
- You have to provide your email-id which is linked to your mutual fund folios, PAN number, you can select the list of funds in which you have invested in (serviced by CAMS), your Aadhaar number and mobile number which is linked to your Aadhaar. Click on ‘submit’ button.
- You will then receive an OTP to your registered mobile number, kindly enter that in the next screen and click on ‘submit’ button.
- CAMS will then cross-verify your details with UIDAI. Once the linking process is successful, a message as below is displayed on your screen.
- Kindly note that you will also receive an email-alert from UIDAI.
How to link Mutual Fund folios with Aadhaar number online through Karvy portal?
If you have invested in the below mutual fund schemes, you can now link your Aadhaar card number to respective MF folios by visiting Karvy portal.
Karvy provides R&T agent services to mutual fund houses like ; Axis Mutual Fund, Baroda Pioneer Mutual Fund, BOI AXA Mutual Fund, Canara Robeco, DHFL Pramerica Mutual Fund, IDBI Mutual Fund, INVESCO Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Peerless Mutual Fund, Principal Mutual Fund, Reliance MF, Quantum Mutual Fund, Taurus Mutual Fund, UTI MF etc.,
- Kindly visit Karvy’s Aadhaar – Mutual Fund linking online facility
- Karvy is providing four ways to link you Aadhaar to Mutual Funds (serviced by Karvy).
- Online Linking through PAN
- Enter your PAN and click on Generate OTP. Kindly note that OTP will be sent to your registered Email-Id and/or Mobile number.
- You may select the mutual fund schemes that you have invested in and also provide your Aadhaar number in the relevant text box and click on ‘submit’ button.
- Once the linking process is completed, you will get a confirmation message from Karvy and also from UIADI regarding the successful authentication.
- If you have not registered your email or phone number, then you have to download the below form and submit it to any Karvy Branches or send to them through courier. Aadhaar linking to Mutual Funds Karvy Form Download.
- Through SMS – Along with the online process of linking, Karvy also started the process of linking Aadhaar to Mutual Funds folios using SMS facility. Send (ADRLNK <PAN> <AADHAAR NUMBER>) to 9212993399 from your registered mobile number. On authentication, the same will be updated across all your folios where Karvy is R&T Agent.
- You can also submit the linking request offline through your Mutual Fund Distributor.
- Online Linking through PAN
Besides CAMS & Karvy, we have two more R&T agents namely ;
- Sundaram BNP Pribas Fund Services (SBFS).
- Franklin Templeton Asset Mgmnt Ltd (FTAMIL is an in-house R&T for Franklin Templeton Mutual Funds).
As of now, CAMS & Karvy have launched the online facility of linking mutual fund folios to Aadhaar number. As soon as the other R&T agents launch this facility, I will update this article with relevant links and information.
Continue reading related articles :
- How to get Consolidated Mutual Fund Account statement online?
- How to link Aadhaar with PAN number in 3 simple steps?
- How to check your PAN card validity status online?
- How to verify if your Aadhaar number is active or not?