AMFI, in consultation with SEBI, has deferred the requirement of Aadhaar for fresh mutual fund transaction from April 1, 2018 until further notice.
This means, you will not have to ensure your clients have an Aadhaar card before onboarding them from April 1.
In an email sent to CEOs, AMFI has asked AMCs and RTAs to maintain status quo and not reject fresh purchase or transaction on account of Aadhaar.
“We have approached SEBI for guidance in the matter informally and it is understood SEBI is also trying to get clarity from Department of Revenue, MoF. In view of the confusion with respect to requirement of Aadhaar for new accounts, AMFI Ops Committee as well as Board of Directors are of the view that it would be prudent to maintain status quo, until there is absolute clarity in the matter,” said AMFI in its communication.
Earlier, AMFI had reportedly asked fund houses and R&T agents to insist that new mutual fund investors furnish their Aadhaar, making it mandatory for mutual fund investments from April 1, 2018.
