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Aadhaar based KYC process

Karvy Computershare is pleased to announce first to roll-out simple, hassle-free and paperless Aadhaar based KYC process for one of the AMCs serviced. We are soon taking this live for all our clients.

The process is in lines with Securities Exchange Board of India (SEBI) mandate dated October 8, 2013 stating that new investors can now make online mutual fund investment by furnishing their Aadhaar card details.

Under this process, new investors to Mutual Fund industry, having an Aadhaar card and PAN can complete the KYC process using our Aadhaar based KYC process, make purchases, without submitting KYC forms and doing in-person verification (IPV). Investors can open a folio and start transacting in direct and regular plans.

Who can avail this facility?

Facility is available to all individual investors who are having PAN but are not KYC compliant as per latest KYC norms; provided the investor has a valid Aadhaar card number. Guardians on behalf of minors can also invest through this procedure.

The Same process will be applicable to all Joint holders too, if they are not KYC compliant.

Is there a limit for purchase transactions?

Investment under this route cannot exceed Rs.50,000/- per financial year per Mutual Fund.

List of AMCs participating : -

1. Quantum Mutual Fund. Click here.

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