India's leading stock exchange BSE (Bombay Stock Exchange) has extended the deadline to submit Aadhar and PAN details for new mutual fund investors to April 1, 2018. The move was made to ensure compliance with anti-money laundering rules.
"The effective date for mandatory submission of PAN and Aadhaar number with requisite documents at the time of opening new folio or account, will now be April 1, 2018 instead of February 15, 2018."
"Accordingly, no new folio account will be opened without the said documents effective April 1, 2018," BSE said in a statement.
New folio opened from 15th February onwards require investors to submit PAN and Aadhar at the time of opening. Folios are numbers designated to individual investor accounts, though one investor can have multiple accounts.
In case of the existing mutual fund (MF) folios and for accounts opened thereafter up to February 14, investors need to submit such information by March-end this year. BSE runs mutual fund distribution platform BSE StAR MF.
Inputs from PTI