Our generation has probably not seen the government push any agenda as hard as that of linking Aadhaar to every single transaction and account we hold. While the debate continues as to whether it constitutes a Big Brotherly move or not, the common man is pretty much expected to follow the directive while the government awaits a verdict from the Supreme Court. I'm sure, you probably have received WhatsApp messages regarding all the deadlines already.
The deadline to link Mutual Fund folios with Aadhar number is
31st December 2017 31st March 2018. Failing which, you may not be able to access your holdings. In all likelihood, this deadline will be extended. Yet, it is prudent to get started to link every account you hold to your singular identity - The Aadhaar. Unfortunately, we at Expowealth cannot update your Aadhar details across all the fund houses, yet. It is something you'll have to do with the respective RTA (Registrar and Transfer Agents) of Fund houses. Here are the four links to the same:
1. CAMS - here
2. Karvy - here
3. Franklin - here
4. Sundaram - here
The process at each of these RTAs is pretty much the same.
1. You enter your PAN number - after which you'll be sent an OTP to Email and SMS (to the email address and phone number linked to the PAN card with the RTA).
2. Entering the OTP authenticates the user who is making the request. Post that, you enter the Aadhaar number. You DO NOT need to upload any documents for the same. Neither are you required to enter another OTP for Aadhaar authentication. The RTAs will probably authenticate the linkage of the PAN with the Aadhaar later.
Completing this process will link all the existing folios across all mutual fund houses with your Aadhaar number. The process across all the fund houses will take a total of about 5-7 minutes. Pretty simple and straightforward right? We suggest not to wait for an extension of the deadline and get started with the linkages right away. We are working on updates to link your CAN numbers and any new folios to Aadhaar so that you don't have to worry about any such issues going ahead. Watch out for the updates in your inbox.
Update: This article was updated to reflect the extension of the deadline for Aadhaar linking as announced by the government.