Association of Mutual Funds in India (AMFI), the industry body, announced on Tuesday that it has reactivated the online registration facility for mutual fund distributors to obtain a new Amfi registration number (ARN) and employee unique identification number (EUIN).
The facility's reinstatement coincides with the ongoing lockdown situation in several parts of India amid the covid-19 pandemic.
Amfi introduced the option of applying for an ARN/EUIN using Aadhaar, as well as renewing an ARN/EUIN, in 2017. However, due to a Supreme Court order on the use of Aadhaar issued in September 2018, the online registration facility had to be removed.
Amfi has been able to revive online ARN and EUIN registration, making it possible to register ARN/EUIN online from the protection and comfort of one"s home or office, without having to step-out in these difficult times, thanks to UIDAI now enabling Aadhaar-based authentication service as well as e-KYC, using OTP that can be availed by requesting entities.
The ARN (AMFI registration number) registration and renewal fees for most distributor forms, including individual distributors, were cut in half last month, with the reduction taking effect on May 1st.