The latest news in the market is that Government of India has made it mandatory to link Aadhaar card with bank account, phone number etc. But do you know that, government has also made it mandatory to link Aadhaar with Mutual Funds. Well let me tell you that you don’t have to go anywhere for linking your Aadhaar with Mutual Funds. Yes, because you can easily link mutual fund with Aadhaar online.
You will be able to do all this using a platform named Computer Age Management Services (CAMS). CAMS is a financial institution which has been launched in order to provide such facilities. It will provide you facility through which you will be easily able to link your Aadhaar with your Mutual Funds online. Even if you hold multiple mutual funds folios then also don’t worry. As you will be link multiple folios with one Aadhaar card.
According to latest amendments in Prevention of Money Laundering Act (PMLA) Rules, 2017, it has been made mandatory to link your Aadhaar with mutual funds. This initiative has been taken in order to prevent the entry of black money in mutual funds and share market. Well linking Aadhaar card with Mutual Funds is currently available for only the existing portfolio holders only. However the total number of Mutual Funds folio that you can link with a single Aadhaar Card is 15.
How to Link Aadhaar with Mutual Funds Online?
1: Firstly go to the CAMS website there you will find investor services. Then there on the left-hand side of navigation menu you will see “Link Your Aadhaar” option.
2: Now click on the “Link Your Aadhaar” option then you will be redirected to Aadhaar seeding page.
3: Well now on the Aadhaar seeding page you will have to provide your email id and PAN card details. Then you will be redirected to a new page where you will need to link all your mutual funds. There you will have to enter your Aadhaar Card number along with your mobile number then click on the submit button.
4: You will receive an OTP on your registered mobile number which is linked to your Aadhaar Card. Enter your OTP received there and then click on the submit button.
5: Lastly when you will submit OTP then on your screen you will find a message which will display that your Link Aadhaar with Mutual Funds Online was successful.
Well I hope that with this article you will be able to successfully Link Aadhaar with Mutual Funds Online.