Your clients can now link their Aadhaar number with their mutual fund folios.
CAMS has launched Aadhaar linking facility on www.camsonline.com for hassle free submission of Aadhaar details. This will help your investors to link their Aadhaar details with their mutual funds holdings.
Recently, the government has asked financial institution like mutual funds to link Aadhaar number of their customers with their financial investments.
Through a press release, Anuj Kumar, COO, Asset Management Services, CAMS said, “To make the Aadhaar linking process convenient for investors, CAMS solution is built to link the Aadhaar details in all existing folios across mutual funds serviced by CAMS in a seamless fashion with the investors’ consent. This eliminates the need for the investor to link the Aadhaar details separately in every folio.”
As a UIDAI approved agency, CAMS verifies the Aadhaar details submitted by investors before it is finally linked to the corresponding folios. Once the details are verified, CAMS system links all folios where the investor has provided consent to update and confirmation communication is sent for the respective updation.
CAMS has initiated awareness campaign on the need, urgency and importance of Aadhaar linking in mutual fund folios via online, call center, service center, help desks and social media platforms.
