SEBI revived Aadhaar-based eKYC for mutual funds
Nov 05 2019
News Category: Regulatory Updates
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SEBI revived Aadhaar-based eKYC for mutual funds. This time SEBI did not specify any upper monetary limit contrary to the previous version of eKYC which had an investment limit of up to Rs. 50,000. Under the new norms mutual fund distributors and advisors who are registered with SEBI can complete the eKYC process by registering themselves with a KYC user agency (KUA) as a sub-KUA. This KUA would be registered with Unique Identification Authority of India. Only resident Indians will be eligible for the eKYC process. Else, an investor will also be able to complete the KYC on a registered or whitelisted device that is operated by the intermediary using biometric details.

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