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Centralized Adhar linkingNo. of comments:19 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. https://twitter.com/sarthwealth/status/938087280148746240 …

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Comments Posted
IMMPvt.Ltd. ARN NO :3297 New Delhi, 13 Dec 2017

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.

KAMAL ARN NO :99994 PUNE, 12 Dec 2017

I am not sure why CKYC is there. I have myself CKYC even then I have to update the Aadhaar everywhere

Tansu ARN NO :113572 Memari, 12 Dec 2017

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.

Sandeep Mundra ARN NO :96369 Gondia, 12 Dec 2017

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?

Sameer GOyal ARN NO :4975 Jagraon, 12 Dec 2017

Aadhaar Linking is done in CKYC only, All financial product update data from CKYC.

Sujatha A ARN NO :66912 Mysore, 11 Dec 2017

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.

AJAY SHANKAR CHAUDHARY ARN NO :122187 Mumbai, 11 Dec 2017

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

Devendra Mhatre ARN NO :ARN-2487 Mumbai, 11 Dec 2017

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

Kaushal kishore goel ARN NO :ARN-67723 Hapur, 11 Dec 2017

It should also be applicable for bank accounts.

rajesh khubchandani ARN NO :155121 satna, 11 Dec 2017

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

Adarsh Sharma ARN NO :ARN-112739 Bareilly, 11 Dec 2017

A must to do.

GOUTAM SARKAR ARN NO :83784 kolkata, 11 Dec 2017

If Mutual fund industries accept centralized KYC, then where is the problem to accept centralized Aadhaar UPdation??

p v rao ARN NO :44436 HYDERABAD, 11 Dec 2017

when pan card is linked to Aadhar card, there is no need to link with other intermediates. because all financial transactions are with pan no. & automatically with aadhar. the central govt. system is paralized, no administration or democracy. all mess.

Ajay ARN NO :122888 Vadodara, 11 Dec 2017

Agree

Suman Ishwarlal Shah ARN NO :114117 Ahmedabad , 11 Dec 2017

ADHAR should be linked automatically All the Mutual Fund Folios as PAN is linked with ADHAR AMFI, SEBI and other agencies should derive system mechanism to link ADHAR data from PAN record hence there is no need to insist investor to link ADHAR now and then separately

RAMESH BARLI ARN NO :31574 Pimpri-Chinchwad, 11 Dec 2017

it is really a very good idea

SHAM ARN NO :4985 NASIK, 11 Dec 2017

This is the same Nuisance as UPDATION of FATCA involving all RTA s. By Birth Each Human has been allotted a Specific Memory Space Like Computer/ Mobile Memory. Kind Request to our Parent Organisation AMFI as below: IN THE INTEREST TO SPEND MEANINGFULL TIME & ENERGY, IN THE INTEREST OF INVESTORS & ARN MEMBERS, TO GROW MORE BUSINESS FOR OUR MUTUAL FUNDS, KINDLY COME FORWARD AT THE EARLIEST TO SOLVE AADHAAR LINKING CENTRALISED WITH SUPPLEMENTRY CKYC FORM. CKYC BEING THE CENTRALISED AGENCY FOR UPDATION OF INVESTER RECORDS.

VISHAL JAIN ARN NO :112128 Kolkata, 11 Dec 2017

Appreciate

Santosh Nene ARN NO :99926 Navi Mumbai, 11 Dec 2017

Completely agree. In my opinion, before announcing such initiatives, centralised agency should be ready or equipped to handle the same. In other words, investor needs to do the AADHAR Linking once for his PAN. Alternatively, investor can do with any Registrar and other Registrars should solicit the data from the Registrar where investor had submitted the AADHAR details.

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