SEBI revived Aadhaar-based eKYC for mutual funds
Nov 05 2019
News Category: Regulatory Updates
No of Views: 469 Rate Now!

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.

Related News
Title Report Date
SEBI directs MF houses to list schemes in the process of winding up... 20/05/2020
SEBI directs mutual fund houses to increase exposure to G-Secs and ... 19/05/2020
SEBI has relaxed the KYC norms for mutual funds, PMS and AIF 28/04/2020
Reserve Bank of India has opened special liquidity window of Rs.50,... 27/04/2020
SEBI has directed AMFI to advise all mutual fund houses to introduc... 08/04/2020
SEBI has asked AMFI to give relaxation to mutual fund distributors ... 08/04/2020
SEBI extends the deadline for implementation of stewardship code to... 31/03/2020
SEBI relaxes compliance requirements for mutual funds and brokers i... 24/03/2020
SEBI has directed mutual fund houses to create adequate liquidity b... 28/02/2020
SEBI has asked stock exchanges to allow investors trade in mutual f... 27/02/2020
SEBI proposes segregation of advisory and mutual fund distribution ... 19/02/2020
SEBI considering reclassification of mid cap and small cap mutual f... 07/02/2020
SEBI may alter stock classification scope 31/12/2019
SEBI increases minimum investment criteria in PMS 22/11/2019