For Quick Alerts
For Daily Alerts

PAN Details Made Mandatory To Redeem Mutual Fund Investments

By Staff

The Association of Mutual Funds of India (AMFI) has made it mandatory for investors to update the PAN information in their mutual fund folios to be able to redeem their investments.

PAN Details Made Mandatory To Redeem Mutual Fund Investments

While mutual fund investors are required to give PAN details to complete the know-your-customer (KYC) formalities, those who invest up to Rs 50,000 per year were allowed to provide other approved proofs of identity.

The new directive comes after a recent inspection by the Securities and Exchange Board of India (SEBI) which found that redemption requests for folios were processed by mutual funds, registrar and transfer agents even when PAN details were unavailable.

How to update PAN Details in Folio?

  1. Investors can do it online at their respective mutual fund company's website or
  2. Visit a branch to submit physical copies of PAN proof and updated KYC form or
  3. KYC details can be updated at KYC Registration Agency (KRA) such as Cams Investor Services Pvt. Ltd and Karvy Data Management Services Ltd to enable the update of details across all your mutual funds

If PAN details are not updated, transaction requests including redemptions are likely to be rejected.

Read more about: pan mutual funds kyc
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more