The BSE (Bombay Stock Exchange) published a notice several days ago, wherein people informed about to link their Demat accounts with the Aadhaar number before January 1st, 2018.
Bombay Stock Exchange has also cited to Prevention of Money Laundering (Maintenance of Records) Rules, 2005, by which the mandatory requirement of Aadhaar as an electronic-KYC (know your customer) for stock trading.
What all things come under Stock Trading-?
- Mutual funds
- Hedge funds*
- Share Marketing*
- Insurance**Require few more documents to process.
However, the Mutual fund investments require Aadhaar Card for those, who register on or after 1st June 2017 and very soon it is going to be mandatory for the existing account holders to link the Aadhaar number with their Mutual Fund investment folios.
How to link Mutual Fund Investment Accounts with Aadhaar number online?
Computer Age Management Services (CAMS) is the first Registrar and Transfer Agent to implement an online option for linking Aadhaar number with the mutual fund accounts.
It is the first Registrar and Transfer Agent serving more than half of the mutual fund industry. CAMS serviced – Birla Sun Life Mutual Fund, DSP Blackrock Mutual Fund, HDFC 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 bank Mutual Fund.
Moreover, CAMS online facility has provided an option to link the Aadhaar card number to multiple mutual fund schemes in one go. Open this link https://www.camsonline.com/InvestorServices/COL_Aadhar.aspx and fill in the details shown on the screen. Note: NRIs can also use this facility, where they can use their PAN and Aadhaar card number.
- The page will open, where the customer has to fill the PAN and Mobile/Date of Birth/Email to proceed for the next option that’s will show-up beside ‘Enter*‘. (Check the screenshot)
- After clicking “Verify” button, this page will show-up on the screen.
- Fill in the mandatory fields and choose the Mutual Fund Companies to link the Aadhaar number with the accounts.
- After the above process, the customer will receive a One-Time-Password to the registered mobile number.
- Enter it in the next screen and click on “Submit” button as shown in the screenshot.
- Once this page is filled-up, the website or system cross-verify the details entered here with UIDAI. And, the below message will be displayed –
- The Customer will also receive an Email from the team UIDAI regarding Aadhaar number linking notification.
Karvy Portal is another portal for linking Aadhaar number with the mutual fund accounts. It provides the same facility as that of CAMS providing with the same sequence of processing to link Aadhaar number.
CAMS & Karvy started the online option of linking mutual fund accounts to Aadhaar number for each customer. If these are less, share more here in the comment box so the readers could find more information on the topic.