In a bid to expedite the ARN renewal process, AMFI is planning to introduce an online ARN renewal facility for distributors, said a source close to the development.
This source said that AMFI is evaluating various ways to implement it.
Currently, distributors have to undergo a mandatory six hours of class room training in order to renew their ARN. To ease the ARN renewal process, NISM has already introduced an online CPE training for distributors.
Once distributors appear for this training they are issued a certificate. Distributors have to send their certificates to CAMS along with a DD of Rs.1,500 in favor of AMFI as renewal fee. Typically, the entire ARN renewal process takes around two months. The proposed online renewal facility is expected to reduce the total turnaround time to a few days.
The license has a validity of three years. Distributors have to renew their ARN six months prior to ARN expiry.
