In line with the Government’s instructions to link Aadhaar number with mutual fund folios, Karvy Computershare introduced a host of facilities through which your clients can update their Aadhaar number.
To start with, Karvy Computershare launched Aadhaar linking facility on their website. Investors can link their Aadhaar through one time password sent to their registered email id and mobile number with Karvy.
In addition, company enabled SMS process for investors to link their Aadhaar with MF folios, through their registered mobile number with Karvy. All your clients need to do is SMS (ADRLNK <PAN> <space> <AADHAAR NUMBER> <space><Y>) to the designated mobile number mentioned on their website.
For example, if the pan number of client is BJQPP5878J and Aadhaar 512245739980, he will have to type ADRLNK BJQPP5878J 512245739980 Y. "Y" in the SMS stands for investor consent to authenticate and seed Aadhaar.
In an email response, the Karvy spokesperson said, “A reply SMS will be sent to the investor saying, thanks for visiting our website, sharing Aadhaar and consent of investors to authenticate and seed, followed by a link to our site as well. However, this facility is not available for PAN exempted MF folios.”
Another option for investors is to send a self-attested Aadhaar update form available on Karvy’s website. Investors can either submit the forms at Karvy branches, dispatch to Karvy’s HO or submit to their distributors, who in turn will scan & upload on Karvy’s portal, through Distributor log-in services. This mode helps the investors from B15 locations.
Recently, the government has directed registrar and transfer agents of mutual funds to link Aadhaar number of mutual fund investors with their folios. The mutual fund investors will have to update their Aadhaar number before December 31, 2017. The government will freeze the non-compliant folios after this date.
Talking about these initiatives, V.Ganesh, CEO, Karvy Computershare said that the company wants to make Aadhaar linking easy & convenient to investors and friendly to distributors. “It’s our experience with FATCA updation last year that investors need multiple, easy and convenient modes to update their details. These initiatives will surely help the investors and distributors in a big way to complete the task of Aadhaar Updation within the stipulated time.”
“Not many people can provide information through online platforms, especially in B15 locations. Hence, we have introduced these alternate easy modes, as we had seen overwhelming response through those modes, during FATCA updation,” he added.
He urged distributors to create awareness among their clients to use any of these convenient modes to meet the Aadhaar linking process deadline.
