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  • MF News NRIs exempted from Aadhaar linkage

    NRIs exempted from Aadhaar linkage

    UIDAI had clarified that NRIs need not undergo Aadhaar linkage, as they are exempted from enrollilng for Aadhaar.
    Team Cafemutual Dec 15, 2017

    Ever since the government directed investors to link Aadhaar details with their mutual funds folios, many distributors have approached Cafemutual on how they can help their NRI clients link Aadhaar with their mutual fund folios. Currently, most NRIs do not have Aadhaar number.

    Cafemutual spoke to a few experts and found that NRIs are exempted from Aadhaar linkage. In fact, in a notification issued last month, UIDAI has clarified that NRIs are exempted for Aadhaar enrolment. “It has been brought to notice that some of the implementing agencies are insisting the NRIs to submit or link their Aadhaar for availing the services that are directly or indirectly connected with NRI regardless of the fact they may not be entitled for Aadhaar as per the Aadhaar Act 2016,” said UIDAI.

    UIDAI has also requested regulators to issue directions to financial services industry on this.

    However, fund houses and distributors need to devise a mechanism to ascertain the genuineness of status of such NRIs.

    Have a query or a doubt?
    Need a clarification or more information on an issue?
    Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

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    2 Comments
    jaideep · 6 years ago `
    See this link from the UIDAI site itself, it first of all says that NRIs cannot apply for Aadhar, only resident Indians can. Linkage is therefore not mandatory, or in fact applicable, as per my understanding.
    https://uidai.gov.in/your-aadhaar/help/faqs.html#nri-and-aadhaar
    B Rajarao · 6 years ago `
    Sir, The point that NRI's are not allowed for applying for AADHAAR and hence the point of linking with aadhaar does' t arise. well. But the following point may please be clarified. An indian citizen having a normal savings bank account has been posted to a forign country. He has not applied for aadhaar earlier and now left with a normal savings bank account with a commercial bank.What will happen now and what the person has to do in this case?Request you to please advise
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