Process for link Aadhaar with Mutual Funds through KARVYMFS
Ministry of Finance (Department of Revenue) in consultation of RBI came up with Notification G.S.R. 538 (E), dated 1st June,2017, carried out amendments to prevention of Money Laundering (Maintenance of Records) Rules, 2005. As per the new rules linking of Aadhaar number with Mutual Fund investments is mandatory, for all the holders. Failing which, the folios will be frozen by 31/12/2017. The purpose of collection/ usage of Aadhaar number including demographic information is to comply with applicable laws/rules/ regulations and provision of the said data is mandatory as per applicable laws/ rules/regulations. Post obtaining the Aadhaar number, we shall authenticate the same in accordance with the Aadhaar Act, 2016. Karvy shall receive your demographic information which shall be used only to comply with applicable laws/ rules/ regulations. Karvy enabled serval convenient modes of Aadhaar number linking across all Karvy serviced Mutual Funds/ AIF.
Options for Aadhaar linking with Mutul Funds –
(1) Aadhaar linking with Mutual Funds Online process –
First you should go to link https://www.karvymfs.com/karvy/Aadhaarlinking_individual.aspx
Click on Consent
Enter you PAN and click on Generate OTP
After that OTP will be received on your registered mobile number.
Enter the OTP in the particular column
Then Enter your Aadhaar Number in particular column.
and submit it.
(2) Aadhaar linked with Mutual funds through SMS -Please send (ADRLNK <space> <PAN> <space> <AADHAAR NUMBER> <space><Y>) to 9212993399 from your registered mobile number with karvy. “Y” in the above message stands for your express consent(as given above and read by you)to authenticate and seed your Aadhaar across all Karvy serviced Mutual Funds / AIF as on date.
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