CAMS eKYC is a paperless Aadhaar-based process for fulfilling KYC requirements to start investing in Mutual Funds. SEBI has recently allowed Aadhaar-based KYC to be used for MF investments, for the convenience of investors.
The regular KYC process requires submission of KYC form with investor signature and additional documents for ID and address proof. In-person verification (IPV) and sighting the original documents needs to be completed by a competent person. CAMS eKYC completely eliminates paper work and IPV to complete the KYC process. CAMS as a KYC User Agency (KUA) is approved by UIDAI to accept investor's Aadhaar number and complete KYC verification with One Time Password (OTP).
NSE has launched CAMS eKYC through NSE NMF II Platform The OTP verification based CAMS eKYC is a simple, hassle fee 3 step process.
Investors completing KYC through OTP based CAMS eKYC are permitted to invest ₹.50,000 per Mutual Fund per year.
KYC completion using biometric verification permits investments without any upper limit. Investors can avail Biometric CAMS eKYC at CAMS service centres.
Read all the know abouts of E-KYC process
