Linking Aadhaar with mutual fund folios
After your bank accounts and phone numbers, it is time to link your mutual fund folios to your Aadhaar number. Here’s how to go about it.
GET IN TOUCH WITH THE AMC
You can directly approach the asset management company (AMC) of your mutual funds. This can be done online through their website. While some have a link on the home page itself, guiding you to the page for updating Aadhaar details, others may have the link under the customer or investor services tab. Once you are there, have your folio number and Permanent Account Number (PAN) handy. Along with this information, you may also need to enter your name, date of birth, email ID and phone number linked to Aadhaar. If there is no option online, you can call your AMC and request to link Aadhaar, for which you may need to fill and submit a form with all the relevant details.
ON THE RTA WEBSITE
Mutual fund registrar and transfer agents (RTAs) can also facilitate this update. For example, Computer Age Management Services Pvt Ltd (Cams), an RTA, has an online link on its home page to help you connect all the folios for fund houses serviced by it. You can access it entering your PAN, name and email ID or phone number or date of birth. Next, as on an AMC’s website, an OTP will get sent to your Aadhaar registered phone number. Once all details are provided, the RTA will share the same with the AMCs and you would receive confirmation from the fund house about this. Other RTAs such as Karvy Computershare Pvt Ltd, Franklin Templeton AMIL and Sundaram BFS will also be able to facilitate for the fund houses serviced by them.
Modalities of the process to be followed by a distributor, to update your Aadhaar via an AMC, are still being put in place. It is likely that you will be able to do this for online and physical distributors soon.
WHAT YOU NEED TO WATCH OUT FOR
The name on your folio should match the name in your Aadhaar; else there is a chance of the request getting rejected. The updation happens via investor approval, which means an OTP-based verification instead of a biometric one.
The name on your folio should match the name in your Aadhaar