Now you can link Aadhaar to Mutual Funds Folios Online. This facility is provided by CAMS (Computer Age Management Services). Recently there was a news that Aadhaar card is mandatory in order to buy and sell mutual funds and shares. In order to comply with this, a facility of linking Aadhaar to Mutual Fund Folios is launched. You can link multiple folios to Aadhaar card using this facility. This will eliminate a need for linking Aadhaar with Mutual Fund to individual folios manually. This facility is available for existing folios only.
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. CAMS simplifies Aadhaar Linking process by providing service of linking online. CAMS is authorized agency by UIDAI to accept Aadhaar number and verify with the database. Once you submit your Aadhaar Card it will be verified from the database and Linked to mutual fund folio. The step by step guide for linking Aadhaar to Mutual Fund Folios online is given below
How to Link Aadhaar to Mutual Fund Folios?
# Step 1 – Visit CAMS online site – https://www.camsonline.com/ . On top navigation menu, you will find Investor Services Menu. Click on that menu.
# Step 2 – On the left-hand side, you will find “Link Your Aadhaar” link. Click on that link.
# Step 3 – You will be redirected to a page where the system will ask your email id, PAN Number, Aadhaar Number and Mobile Number. You have the option to select fund portfolio on which you want to link your Aadhaar Card.
# Step 4 – Once you click submit button OTP will be generated and send to your register mobile number as SMS. You need to enter OTP for Aadhaar Seeding.
# Step 5 – On submission of OTP system will verify Aadhaar detail with UIDAI database and show success notification on screen.
The facility of linking Aadhaar to Mutual Funds by CAMS will allow you to link Aadhaar only with Mutual Fund Serviced by CAMS. The detail of Mutual Fund Serviced by CAMS can be found from here.
I hope facility launched by CAMS for Linking Aadhaar to Mutual Fund will help investors.