Aadhaar based KYC process
Karvy Fintech 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.
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.