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The Rs.40 lakh crore MF industry has been witnessing disruption due to non-linking of PAN and PAN Exempt KYC Reference Number (PEKRN) PEKRN with MF folios.
RTA officials confirmed that close to 27 lakh MF folios did not have PAN or PEKRN updated. Investors having these folios cannot make fresh purchase, redeem or do SIP transaction.
It was compulsory for investors to update their PAN and PAN Exempt KYC Reference Number (PEKRN) in MF folios by March 31, 2023. AMFI clarified that investors with such non-compliant folios cannot execute any financial transaction in mutual funds from April 1, 2023.
You can visit CAMS and KFintech to update your PAN or PEKRN with MF folios.
