To make it easier for investors to buy or sell mutual fund products, fund houses are offering the facility of investing in such products by using the Aadhaar number. The investor can invest online in mutual fund products even if the person is not compliant with Know Your Client (KYC) details.
The new service will help investors buy or sell mutual fund (MF) products in a simpler and faster way.
The move comes after Sebi issued guidelines to change the existing norms for investing in mutual funds.
Quantum MF is already off the block, which offers the facility of investing in mutual fund products on the basis of Aadhaar Card. Others are likely to follow suit.
