UTI Mutual Fund starts Aadhaar based e-KYC registration for investors

Published On: 08, Dec 2017 | Source: moneycontrol.com

Himadri Buch @himadribuch

UTI Mutual Fund has started electronic know-your-customer registration facility for investors, using Aadhaar's biometric verification, the fund house stated in a release.

Biometric verification will allow unit holders to invest any amount of money in the schemes of UTI Mutual Fund, as against an investment cap of Rs 50,000 per year, on KYC registration done through receiving a one-time-password on investors' registered mobile numbers.

The fund house also stated the electronic registration will require only the Aadhaar and permanent account number of the investors, and they will not be required to produce any physical documents of identification.