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AMFI will not accept physical requests on fresh ARN/EUIN registration from October 1, 2024.
In a circular, AMFI has clarified that it has made it mandatory for distributors to obtain fresh ARN/EUIN registration and renew their existing ARN/EUIN digitally.
Even for the biometric process, AMFI has said there is no need to appear physically at CAMS office to do Know Your Distributor (KYC) process.
AMFI said that the candidates having KYC ‘validated’ status with KYC registration agency (KRA) will be good enough to validate their KYD status.
So far, distributors had to go through biometric process to become KYD Compliant to obtain fresh ARN/EUIN. However, AMFI believes that since UIDAI captures biometric at the time of issuing Aadhaar, there is no need to redo the biometric process again for KYD.
AMFI said, “In consultation with the ARN committee and the approval of the board of AMFI, it has now been decided to make it compulsory for individuals to apply for AMFI registration (fresh ARN and EUIN) only via online mode to facilitate Aadhaar & PAN authentication online seamlessly and discontinue the paper-based process. This will facilitate speedy and efficient processing and eliminate human error, delay in postal/courier transit.”
AMFI believes that doing away with physical registration and renewal may not affect distributors. It said that over 90% of the total ARN applications have come through online mode in the last 5 years, which indicates the preference for the online process.
ARN renewal was made completely online on July 2022.
