Mutual funds are a slowly becoming valuable investment avenue for working individuals as mutual funds guarantee to give good returns and offer flexibility at the same time. This stability and peace of mind makes many of the clients to have a mutual fund portfolio to their name. Based on the proven popularity of various mutual fund transactions, the Central Government of India has a long discussion with other official bodies that has passed the Prevention of Money Laundering (Maintenance of Records) Second Amendment Rules, in the year 2017. According to the rules, it became essential and compulsory to link all the mutual fund portfolios to the Aadhar cards of sole investors.Sbi mutual funds are very popular among investors, there are various simple methods to choose on how to switch sbi mutual funds online. One needs to be vigilant and active to explore these options of easy linking of Aadhaar and mutual funds online.
The main aim of the Government behind the mandated Asset Management Companies and mutual fund houses is to gather the essential Aadhar details of their prime investors so that any kind of ambiguous transactions can be flagged or marked for future investigations. But it is to be noted, mutual fund Aadhar linking is not at all compulsory now but it is definitely recommended. So, this is beneficial to the individual especially for mutual fund investors in the long run.
Ways to link Aadhaar with mutual funds online.
There are plenty of simple and different ways through which the sbi mutual fund or any other mutual fund of any investors can be linked to their Aadhar. These ways are as follows –
Request via mutual fund registrars
Request via mutual fund house
Or, through SMS
The linking of mutual funds and Aadhar can be performed through online as well as offline using any of these various modes. All the above-mentioned three ways are very easy and simple that allow linking of investors' Aadhar card to their mutual fund scheme online and as well as offline. To do an online process it can be performed through your modern Smartphone, latest computer or laptop, but to do offline methods the primary investors are needed to go physically to visit the most nearest offices of the concerned registrars or selected partnered mutual fund companies and get the Aadhar linked. But for sbi mutual fund know your customer update online the investors are needed to provide all the essential details beforehand. There are plenty of options available but pan kyc online options are most suitable for working individuals.
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Given below are the various step-by-step methods that will assist you complete the process:
Linking through CAMS
Step 1: Visit CAMS official website: www.camsonline.com. Open the website mentioned here, now click on “Investor service” menu and simply select “Link Your Aadhaar” option which will be generally displayed on the top side of left side of the page. Not only this, the investor can simply visit the following particular website on their own for linking: www.camsonline.com/InvestorServices/COL_Aadhar.aspx
Step 2: Enter your PAN number
Step 3: Simply choose either mobile or date of birth or email in 2nd box given
Step 3: Need to provide details according to the primary selected option in the respective box
Step 4: Click on the “verify” button
Step 5: The process will redirect to a new page, where the actual Aadhar number, and the registered mobile number. Email ID is optional and is needed to be mentioned.
Step 6: Click on the “Generate OTP”
Step 7: After the process are complete the OTP will be generated to the given registered mobile number, simply type in the OTP and mentioned to click on the “Submit” button
Step 8: Once the above process is successfully completing the steps, you will receive a confirmation message
Linking through Karvy:
If the investor wants to select Karvy or any other registrar simply download the Aadhar linking form available on the registrar’s website and fill it up without any hassles. The mentioned form is also available at the main office of the registrars and the investors can easily fill the form when they visit the office for various linking of Aadhar with mutual funds online. The easy filled form should be immediately submitted along with a simple self-attested copy of the investor’s Aadhar card for verification purposes.
Easy Linking with Individual AMCSs:
For this purpose, one can simply visit the office of the primary mutual fund houses whose various schemes have primarily invested in. The major offices of the AMCs (Asset Management Companies) also have various forms for linking different Aadhar with various mutual funds. After availing and simply filling the form along with a self-attested copy of the investors Aadhar card. The AMC will vary and confirm the linking procedures.
The whole market of Mutual funds are basically needed to formulate and implement various customer identification program as well as certainly verify and manage records of the various identity and address(es) of investors who are responsible and as per the rules of Prevention of Money laundering Act, 2002 ('PMLA'), the rules are issued by SEBI and monitored simultaneously.
Things Investors are needed to do:
The investor of SBI mutual fund are requires to fill up the form online.
But for an existing investor of SBI Mutual Fund but not KYC Compliant, simply submit the standard KYC Application forms uploaded in form section under Forms and Downloads
For a new mutual fund plan, filling up KYC information and completing the IPV requirements is mandatory.
It is absolutely mandatory to have Aadhar card information to invest in different types of mutual funds. Government wants to track down black money, the central Government has made it absolutely mandatory for all big or small investors to link their genuine and unique Aadhar no with all the essential financial transactions including mutual fund investments. The government ordered registrars and real R&T agents to assist link their each and every mutual fund's customer’s Aadhaar. This process is hassle free of cost and affordable.
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