The Securities and Exchange Board of India (SEBI) and stock exchanges like BSE have given clarifications regarding linking of Aadhaar number to Demat Accounts for stock trading. Soon it will become mandatory to link your Aadhaar number to your Mutual Fund investment folios also.
According to the Prevention of Money Laundering Act (PMLA) Rules, 2017, Financial Institutions like mutual funds are required to obtain Aadhaar number from their customers and also link the same to the respective accounts or folios. How To Select A Mutual Fund For You?
What is CAMS?
CAMS or Computer Age Management Services is India's premier Mutual Fund Transfer Agency serving over 60% of assets of the industry across 15 Mutual Funds. Apart from mutual funds, CAMS is a service partner to leading Insurance companies, Banks, NBFCs and Private Equity Funds.
CAMS serviced funds
CAMS services 15 mutual funds companies right now. Check out the list of CAMS serviced funds.
- HDFC Mutual Fund
- DSPBR Mutual Fund
- Birla Sunlife Mutual Fund
- HSBC Mutual Fund
- ICICI Prudential Mutual Fund
- IDFC Mutual Fund
- IIFL Mutual Fund
- Kotak Mutual Fund
- L&T Mutual Fund
- Mahindra Mutual Fund
- PPFAS Mutual Fund
- SBI Mutual Fund
- Shriram Mutual Fund
- Tata Mutual Fund
- Union Mutual Fund
How to link Aadhaar in CAMS?
The investor needs to follow the process of linking his or her Aadhaar once; then it will be automatically updated in all the mutual funds. Follow the steps given below to link your 12 digit Aadhaar number with mutual funds portfolio. Over 66 Lakh New Investors Added In MFs In Apr-Sep Period
Visit CAMS website. In the given boxes you have to provide your email id which is linked to your mutual fund folios, PAN number. The investor needs to select the list of funds in which he or she have invested in (serviced by CAMS). Select mobile and enter the mobile number registered with your Aadhaar card number. Enter Aadhaar number in the below column and click on ‘submit' button.
In the new screen, you need to provide Aadhaar number, the mobile number linked to your Aadhaar and emails id. Email id is optional. After entering these details click on submit button.
You will receive one OTP or one-time password. Enter this on the next page. Now you are done with the process to link your UIDAI number with your fund folios in various AMC which are serviced by CAMS.
The deadline to link mutual fund investments to Aadhaar is December 31. The fund houses are bound to start asking their customers to provide the required information. The Association of Mutual Funds in India has sent an addendum to mutual funds for making Aadhaar mandatory for MF investments with effect from January 1, 2018. Reminder: Know These Five Aadhaar Linking Deadline