Mutual fund (MF) investors who invested before the advent of the now ubiquitous Aadhaar by submitting bank account statements or utility bills as proof of address but have failed to update the 12-digit digital national identity number in their individual folios better watch out.
If you have not submitted information about your Aadhaar, you would not be able to buy new MF units. Investors have to mandatorily get their KYC (Know Your Customer) done through Aadhaar to buy MFs from 2024-25.
