All mutual fund investors need to mandatorily provide their PAN (Permanent Account Number) details irrespective of the size of their investment.
PAN is mandatory to do KYC according to the revised Know-Your-Customer (KYC) compliance norms issued by the market regulator SEBI in order to comply with money laundering prevention rules and check fraudulent practices w.e.f 1 January 2011
Providing PAN details for KYC compliance has several benefits too.
Foremost among them being that KYC information is now centralized across all Mutual Fund Houses with the help of PAN details.
This means that investors need to do their KYC only once and transact across multiple mutual funds without submitting their KYC documents with each fund house again and again.
The KYC norms were first implemented in the mutual fund industry in February 2008 for all investors putting in Rs. 50,000 or more in mutual fund schemes.
As a SEBI registered intermediary (RIA INA000004773), MobiKwik can facilitate investments by accessing KYC details of existing Mutual Funds investors or submit new Mutual Fund KYC applications on a new investor’s behalf.
Your PAN and other registration details are completely safe with us and not shared with any third party or entity. The details are used for KYC purposes only.
If you want to start your mutual fund journey, you can enter your PAN and start investing or do your KYC by clicking here.