Now you can link Aadhaar number with your Mutual Fund folios online. CAMS has launched facility to link Aadhaar with Mutual Funds online. This facility allows you to link multiple mutual funds folios with your Aadhaar at a single go. You can avoid the hassle of linking Aadhaar separately in every folio by using this facility.
As per latest amendments to Prevention of Money Laundering Act (PMLA) Rules, 2017, it is mandatory to link Aadhaar Number to Mutual fund folios in order to buy and sell mutual funds. The aim of this exercise is to prevent entry of black money in the mutual fund and share market.
CAMS is a first financial institution to launch such facility. Apart from CAMS, Karvy has also launch facility of linking Aaddhar with Folios. CAMS is UIDAI approved agency, it verifies Aadhaar detail submitted by you before it is finally linked to your folio. On verification of information, your folio will be linked to Aadhaar card. This facility is available for existing portfolio only. As of now, CAMS is supporting 15 mutual funds only. This means you can link your Aadhaar only with 15 mutual funds by using CAMS platform. The list of 15 mutual funds supported by CAMS is given below.
- Birla Sun life Mutual Fund
- DSP Black Rock Mutual Fund
- HDFC Mutual Fund
- ICICI Prudential Mutual Fund
- HSBC Global Asset Management
- IDFC Mutual Fund
- IIFL Mutual Fund
- Kotak Mutual Fund
- L&T Mutual Fund
- Mahindra Mutual Fund
- SBI Mutual Fund
- PPFAS Mutual Fund
- Tata Mutual Fund
- Union Mutual Fund
- Shriram Mutual Fund
Reliance, Franklin India Temptation, Birla Mutual funds, Motilal Oswal, Quantum and other several mutual funds cannot be linked by this platform. Let’s take a look at steps How to Link Aadaar with Mutual Funds Online?
How to Link Aadhaar with Mutual Funds ? – CAMS Online
Step by step guide to Link Aadhaar with Mutual Funds on CAMS Online is given below.
# Step 1
Go to CAMS website – https://www.camsonline.com .Click on Investor Services. On left-hand side navigation menu, you will find menu item “Link Your Aadhaar”.
# Step 2
Click on “Link Your Aadhaar”. You will be redirected to page for Aadhaar Seeding.
# Step 3
On Aadhaar Seeding page provide your email id, PAN card. You will be redirected to a page where you need to provide a preference that you need to link all your funds or a specific fund. Input your Aadhaar Number, Mobile number and click on submit button.
# Step 4
OTP will be generated and sent to your registered mobile number linked with your Aadhaar for verification. You need to enter OTP. After entering OTP authorize CAMS for seeding and click on Submit button.
# Step 5
On submission of OTP, it will display a success message. You will also receive an email confirmation about this.
How to Link Aadhaar with Mutual Funds? – Karvy
Step by step guide to Link Aadhaar with Mutual Funds on Karvy is given below.
# Step 1
Go to Karvy Mutual Fund Site – https://www.karvymfs.com/karvy/ In the quick links you find find link called as “Aadhaar linking made easy”. Click on that link.
# Step 2
You will be redirected to page where you nee to provide your PAN Number and click on generate OTP button. System will generate OTP and send to your register mobile number.
After validation of OTP system will prompt you for entering Aadhaar Number. On submission of Aadhaar system will display success message. However, Aadhaar Seeding will be done after verification with UIADI database.
Linking Aadhaar via SMS
You can also link Aadhaar via SMS. You need to send ADRLNK as SMS to 9212993399 from your registered mobile number. On verification of detail seeding shall be done.
I hope above guide of linking Aadhaar with Mutual Fund Folio will help you.