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Centralized Adhar linking
No. of Comments: 19
By ARVIND PARANJAPE, PUNE, 116356 On 11-Dec-2017
Why an investor should link Adhar 4 times with 4 different Registrars? Why AMCs, AMFI, SEBI cannot find the mechanizm to do it only once? Even Ministry of finance and PMO also are not taking any note of colossal wastage of resources in country. These are my twitts, which are yet not responded. @PMOIndia I have been following for facilitating Centralized linking of Adhar card with all Mutual funds folios. Presently each investor has to approach 4 agencies to do the same task. We cannot afford to lose millions of man hours and papers @rsprasad @arunjaitley Time is running out to reduce the huge wastage of man hours and resources. Every day lacs of investors are wasting their time. Please instruct agencies to do CENTRALISED adhar linking for all Mutual Funds. …

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Posted by IMMPvt.Ltd. on 13-Dec-2017 ARN NO :3297 City :New Delhi
It is possible in this age of t e c h n o l o g y. Every Govt. is keen to keep up the pressure on milch cow i.e. middle class. Only yesterday a revised KYC procedure was completed with AADHAAR as address proof, but the fund house advised that AADHAAR will not be updated and it is mandatory to furnish separate formal request for AADHAAR updation. We will never progress and remain occupied with completing Govt. initiated AADHAAR like never ending pressures.

Posted by KAMAL on 12-Dec-2017 ARN NO :99994 City :PUNE
I am not sure why CKYC is there. I have myself CKYC even then I have to update the Aadhaar everywhere

Posted by Tansu on 12-Dec-2017 ARN NO :113572 City :Memari
If Mutual fund industries accept centralized KYC, then where is the problem to accept centralized Aadhaar UPdation??Aadhaar Linking is done in CKYC only, All financial product update data from CKYC.

Posted by Sandeep Mundra on 12-Dec-2017 ARN NO :96369 City :Gondia
I agree. Its a criminal waste of time and resources of all i.e. investor, advisor and AMC''s as well. When Pan is already linked with Aadhaar and for doing mutual fund transaction PAN is compulsory then why can''t aadhaar be pulled out of PAN. Why these changes are not getting linked to KYC or KRA so that it can be updated in all the AMC''s and all the folios in one step. It was the same problem at the time of FATCA updation also. Do I have a different income and tax status when I m investing in birla mutual fund and reliance mutual fund. Then why do I need to update it separately? Why can''t it be linked with KYC / KRA?

Posted by Sameer GOyal on 12-Dec-2017 ARN NO :4975 City :Jagraon
Aadhaar Linking is done in CKYC only, All financial product update data from CKYC.

Posted by Sujatha A on 11-Dec-2017 ARN NO :66912 City :Mysore
Centralised Adhar linking should be facilitated. When every account is adhar and PAN linked and all Mutual Fund investments are routed through bank only then where is the question of Adhar not getting linked. It is utter waste of man hours and unnecessary complications. On the other side when we are trying to link adhar to the CAMS website, the site does not support and it says ERROR. The Adhar is being collected for all fresh KYC''s and where is the need to link the Adhar once again. Government has to come up with a Centralised linking and simply this.

Posted by AJAY SHANKAR CHAUDHARY on 11-Dec-2017 ARN NO :122187 City :Mumbai
Investor has already done KYC with with the respective Agencies. Pancard is already linked with Aadharcard. So AMC has to take this efforts to update Aadharcard number to each Folio of investment. There is no sense to approach 4 different agencies to do this repeated task. Govt should take appropriate action to save precious hours of MF Advisors

Posted by Devendra Mhatre on 11-Dec-2017 ARN NO :ARN-2487 City :Mumbai
Why MF Associations/SEBI/ AMCs/ Registrars cannot resolve this simple issue, When PAN is already linked to Aadhar or Bank accounts, why this duplication. Why cannot the available data of aadhar already linked with PAN and/or Bank account be used to filter out the folios and only those folios be flagged which do not have Aadhar linked PAN or Bank account. Duplication of work is not "Ease of doing business". Forget the distributors unnecessary efforts in getting the investors consent with 4 separate registrars, MF Industry''s image with investors has taken serious beating as they view this industry as weak and meek without any voice to resolve such simple issue

Posted by Kaushal kishore goel on 11-Dec-2017 ARN NO :ARN-67723 City :Hapur
It should also be applicable for bank accounts.

Posted by rajesh khubchandani on 11-Dec-2017 ARN NO :155121 City :satna
if kyc is ok , then you have already pan card and adhar card in kyc . then why is it necessary for each registrar to link adhar. it seems that registrar is doing its job by the customers and agents

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