Your clients now have some more time to link their Aadhaar details with MF folios.
The Supreme Court has extended the deadline to link Aadhaar with bank accounts and other financial services, such as mutual funds and insurance, from March 31, 2018 until the court issues further notice.
The constitution bench headed by Chief Justice Dipak Misra said it is difficult to decide the constitutional validity of the Aadhaar Act by March 31, 2018.
Earlier, the ministry had directed fund houses to link Aadhaar number with mutual fund folios before December 31, 2017. Later, the government extended the deadline by three months, i.e., March 31, 2018.
You can help your clients link their Aadhaar number with mutual fund folios through R&T agents such as CAMS, Karvy, Sundaram, BNP Paribas Fund Services and Franklin Templeton.
Here is how you can help your clients link their Aadhaar details with MF folios.
- The RTAs have enabled online submission of Aadhaar and PAN details by investors on their websites for collection and authentication of Aadhaar number. You may advise your clients to provide the details at any RTA's website.
- Physical forms are available at all investor service centres (ISCs) of AMCs and RTAs.
- Send emails to investors with a web link to update Aadhaar.
- Investors can send SMS from their registered mobile number to link Aadhaar.
You can verify if clients have linked Aadhaar details with the mutual fund folios. Both CAMS and Karvy have introduced a facility through which investors and distributors can check if the Aadhaar is linked to the mutual fund folios.
You can visit this link for CAMS, or click here for Karvy serviced fund houses. Distributors will require to key in the name of the fund house, PAN of investor and ARN to check Aadhaar status on CAMS. Similarly, investors or distributors will have to submit PAN and OTP, sent to the registered mobile number of PAN card holder, on Karvy.
