You are a proud citizen of India and boldly display your identity. Your identity is the Aadhaar, a 12-digit unique identification number, issued by the Government of India. Now, the Government is using the Aadhaar as a weapon against black money. An amendment has been made in the Prevention of Money Laundering Act (PMLA) Rules, 2017.
It is now compulsory for Mutual Fund houses to get your (customer's) Aadhaar number and link it to your Mutual Fund folio. Do pay heed to this deadline. A deadline of December 31st has been set for mutual funds to link yours and all other customer's Aadhaar to respective accounts.
CAMS (Computer Age Management Services), a Registrar and transfer agent, has launched an online facility, so that you can link your mutual fund investments to Aadhaar. Using this facility you can link multiple mutual fund folios with Aadhaar at a single go. You don't have the hassle of linking Aadhaar separately with each mutual fund folio.
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The deadline of December 31st 2017 fast approaches. You better link mutual funds with Aadhaar. The only question...How will you link Mutual Funds with Aadhaar? As of now only CAMS offers this service.
Soon Karvy and other transfer agents would offer the facility to link Mutual funds with Aadhaar. Here's how to link your mutual fund investments to your Aadhaar on CAMS:
SEE ALSO: How To Link Aadhaar With PAN?
First visit the website CAMS and click on INVESTOR SERVICES on the left hand side of the page.
On the left hand side of the navigation menu you will find " Link Your Aadhaar." You click on this link.
The moment you enter the registered email and PAN, the page gets auto-populated with the names of the mutual fund houses where you have a mutual fund investment.
The list of 15 mutual funds supported by CAMS are given below:
You have to click on the fund houses, preferably all, where you have an investment. You then enter your Aadhaar and registered mobile number and submit it to get an OTP.
You then enter the OTP in the space shown below. You check the box, I hereby provide my consent and authorize CAMS for the following. This allows CAMS to validate Aadhaar and download the data from UIDAI.
You will get an acknowledgement. Thanks for providing Aadhaar Number for your PAN. Your Aadhaar Number will be linked to the respective Folios in the selected Mutual Funds. After due verification with the information available in your mutual fund folios , you will get suitable communication in due course of time.
Yes, you have to remember to link Aadhaar with Mutual Funds before December 31st 2017. You can easily link Aadhaar with Mutual Fund schemes which are serviced by CAMS. Other R&T agents are soon expected to launch online facilities for seeding of schemes with Aadhaar. Be Wise, Get Rich.
Mr. C S Sudheer is the founder and CEO of IndianMoney.com – India’s largest Financial Education Company. He started his career with ICICI Prudential Life Insurance and later on worked with Howden India. After his brief stint in Howden India, he moved on and incorporated Suvision Holdings Pvt Ltd which is the sole promoter of IndianMoney.com. He aims to build a nation that is financially literate with investment savvy citizens.
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