As per Government of India mandate, it is now mandatory to link all financial services like Share trading, Mutual Funds, Gold funds, Banks, Credit cards etc with your Aadhaar number. Accept it! There is no escape for this. FundsIndia, Scriptbox or whatever service you are using; doesn’t matter. You have to complete the process or account will stop working. Biggest danger is of assets under scrutiny and being inaccessible.
Karvy is one of the intermediary service which acts between many vendors like FundsIndia and your mutual fund AMC (Asset Management Company). It acts mainly as KYC service and so, is important. Though it might be enough to link Aadhaar to FundsIndia or your other MF broker like Scriptbox, but it to be safe it’s good idea to link Aadhar directly to your central KYC or eKYC company.
Link Aadhaar with Karvy Mutual Fund Services
A. Using Internet
1. First of all, get your Aadhaar number, PAN number and the registered mobile ready. By registered, here it means the one which is registered with Karvy and not Aadhaar (as per Karvy website). It doesn’t matter, if your Karvy KYC number is different than Aadhaar. Mine is!
Also, PAN here is one you used to register your KYC with Karvy. Company (Non-individual) need to use PAN allotted to company name.
2. Navigate to the below official site.
3. Now, depending on your account type, select ‘Individual‘ or ‘Non-individual‘ account.
4. I have selected ‘Individual account‘ and went ahead. This guide works nearly same for Non-individual accounts. Only thing you will need PAN of the Company.
5. Give your consent at top by checking the box. Enter your PAN as shown below and click ‘Validate‘.
6. System will check it’s database and will give you a list of all Mutual Funds where Karvy is used for KYC. Go ahead and select all of them. Some people reported that they are getting only one option ‘All Funds’, which is also OK.
7. Enter your Aadhaar number in the next box and hit Submit or Validate. The options keep changing but end result is same. So, no worries.
8. Webpage will announce that an OTP is sent to registered Mobile and e-mail ID. This, is again your Karvy MF Service Mobile and e-mail. I never received OTP on e-mail so, didn’t include it in guide. You are free to check email also.
9. Enter the OTP, once you get it and hit ‘Validate OTP‘.
10. If all goes correctly, then you will see a notification of success and seeding in queue.
B. Using SMS only
It is definitely not required that all Aadhaar linking should be done either over Internet or in-person. Some of the services allows this via SMS also.
1. Use your Karvy registered mobile number for this.
2. Send a SMS in below format to 9212993399
ADRLNK <space> <PAN> <space> <AADHAAR NO SPACES> <space><Y>
“Y” in above message means you are consenting and reading the terms given on this page https://www.karvymfs.com/karvy/Aadhaarlinking_individual.aspx, to authenticate and seed your Aadhaar across all Karvy serviced Mutual Funds and AIF.
3. You will receive a same confirmation in SMS as above.
I hope this helped. Let me know of any concerns.
Disclaimer: Aadhaar logo and Karvy Logo are taken from their respective sites for display and educational purpose and are Trademark of respective entities. GeekAct has no affiliation with any of the logos.