MF unit holders have 3 more months to link Aadhaar with folios

Aadhaar Card

Providing relief to many, the government extended the deadline for mandatory Aadhaar linking with bank accounts to March 31, 2018, in its latest notification.

This extension of deadline on Aadhaar linkage is applicable for mutual funds too, said Association of Mutual Funds in India.

The government has extended the deadline to link Aadhaar with bank accounts from December 31, 2017 to March 31, 2018.

This means clients will have three more months to link Aadhaar details with the mutual fund folios.

Earlier, the government amended Prevention of Money-laundering (Maintenance of Records) Rules, 2005, which was notified in June 2017, requiring you to link your Aadhaar with your various investments such as bank account, insurance and mutual funds by December 31, 2017.

One can help clients link their Aadhaar number with mutual fund folios through R&T agents such as CAMS, Karvy, Sundaram BNP Paribas Fund Services and Franklin Templeton.