In a relief for mutual fund investors, capital markets regulator the Securities and Exchange Board of India (SEBI) has done away with the requirement of linking permanent account number (PAN) with Aadhaar to get "KYC-registered" status for MF transactions.
Know Your Client (KYC) is the process by which entities such as banks, fund houses and stock brokers verify an investor’s identity before they can begin investing with them.
