Recently there was news that from now onwards Aadhaar is mandatory for buying and selling of stocks and Mutual Funds. In this direction, it is better for you to be ready with all your Demat accounts and Mutual Funds be linked to Aadhaar. Let us see how to link Aadhaar to Mutual Funds folios online.
As per recent amendments to Prevention of Money Laundering Act (PMLA) Rules, 2017, Financial Institutions like Mutual Funds are mandated to obtain Aadhaar Number from their customers and link the same to the respective accounts. For your convenience, CAMS is facilitating the process of linking your Aadhaar information in Mutual Funds (serviced by CAMS) where you hold account(s) / selected by you, in the submission form below.
CAMS (Computer Age Management Services Pvt. Ltd.) started the process of link Aadhaar to Mutual Funds folios online. Do remember that CAMS is like middlemen between you and Mutual Fund companies and acts as a Transfer Agency serving over 60% of assets of the industry across 15 Mutual Funds.
Hence, if you link Aadhaar to Mutual Funds folios online using CAMS platform, then you are able to link only to those 15 Mutual Fund companies to which it serves as Transfer Agents. The list of CAMS serving Mutual Fund Companies is as below.
- 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
Hence, if you used CAMS online platform to link Aadhaar to Mutual Funds folios online, then it means that you automatically linked to all Mutual Funds which you are holding in these above listed mutual fund companies.
Along with CAMS, there are other Transfers Agents and they are as below.
- Karvy Computers (Provides services to rest of AMCs)
- Franklin Templeton International Services (Provides services only to Franklin Templeton Mutual Funds)
- Sundaram BNP Paribas Fund Services (Provides services only to Sundaram and BNP Paribas Mutual Funds)
As of now, CAMS only started this process of link Aadhaar to Mutual Funds folios online. Others may also soon start the facility.
How to link Aadhaar to Mutual Funds folios online?
Link Aadhaar to Mutual Funds folios online – KARVY
Karvy also started the facility of link Aadhaar to Mutual Funds folios online. Let us see the types of options available.
Option 1–Link Aadhaar to Mutual Funds folios online using Karvy platform
# Step 1-
Visit the KARVY Aadhaar linking portal. Enter your PAN number and they will send you OTP to your registered mobile number.
# Step 2-
Now you have to enter your PAN number, authorize Karvy for accessing your Aadhaar details for linking of Aadhaar with Mutual Funds folios online, and also enter your Aadhaar number. Then click on Submit tab.
# Step 3-
Once you complete this process, then you will receive an email from Karvy regarding the same as confirmation and also from Aadhaar about the authentication successful message.
That’s it and you linked your Aadhaar to all Mutual Funds where Karvy is R&T Agent.
Option 2–Link Aadhaar to Mutual Funds folios through SMS facility
Along with the online process of linking, Karvy also started the process of linking Aadhaar to Mutual Funds folios using SMS facility. The process is as below.
Send (ADRLNK <PAN> <AADHAAR NUMBER>) to 9212993399 from your registered mobile number. On authentication, the same will be updated across all your folios where Karvy is R&T Agent.
Option 3–Link Aadhaar to Mutual Funds folios through offline mode
If you have not registered your email or phone number, then you have to download the below form and submit it to any Karvy Branches or send to them through courier.
Option 4–Link Aadhaar to Mutual Funds folios through distributors
You can also link your Aadhaar to Mutual Funds folios through your distributors. They will scan and upload the file to Karvy platform for distributors.
Link Aadhaar to Mutual Funds folios online – CAMS
CAMS provided the link in its portal for link Aadhaar to Mutual Funds folios online. Steps are as below.
# Step 1
Visit CAMS portal and click on the tab “Investor Services”.
# Step 2-
Then under “Investor Services”, you have to select the option “Link your Aadhaar”.
# Step 3-
Next step is to provide your registered email id, PAN number, Aadhaar number and mobile number. Then click on the tab of Submit.
# Step 4-
Once you submit the details, then you will receive the OTP (One Time Password) to your registered Email ID and Mobile. You have to enter the same in below screen.
Do remember that by authorizing CAMS to validate your Aadhaar, you are linking your Aadhaar to all your CAMS servicing Mutual Fund Companies where you are First Holder / Joint Holder / Guardian.
# Step 5-
Once this process is over, then you will receive the below success message.
# Step 6-
Once authentication is successful, then you also receive the email confirmation of the same as below.
Hope this information may be useful to all. Let us hope that other Transfer Agents also start such unique facility soon.
Link Aadhaar to Mutual Funds folios online – Franklin
Now Franklin also started the online service to link your Aadhaar to Mutual Funds folios online. The process is as below.
Visit the link of Franklin Templeton India Aadhaar linking to Mutual Fund and you can easily link Aadhaar to Mutual Funds folios which are with Franklin.
What happens if you do not link Aadhaar to Mutual Funds folios?
If you do not link Aadhaar to Mutual Funds within the deadline, then you may face the below situations.
- Purchase (New & additional purchase), Redemptions, Switches, New registration of SIPs, STP, SWP, DTP, unclaimed dividends/redemptions, Lien Marking, Minor Attaining Majority and Transmission (unless Aadhaar is provided) which are Customer Initiated Transactions will not be permitted.
- Dividend Payments, Pre-existing SIPs, SWP, STP, Close-ended fund maturity payout, KYC related changes, a Non-financial transaction, Lien invocation by the financial institution or Pledgee or any transaction pursuant to a Court or Regulatory Order, shall be permitted (as the same are not initiated by the customer).
Hence, hurry up and link Aadhaar to Mutual Fund folios at the earliest.
Refer other posts related to this-
- How to lock and unlock Aadhaar Card online and prevent misuse?
- How to link Aadhaar with PAN Card OFFLINE (Download Form)?
- Unable to link Aadhaar with PAN – What are the alternatives?
- How to link Aadhaar to EPF using online and offline?