Online registration started for MF distributors

 

 

 

INDUSTRY body Amfi on Tuesday said it has revived the online registration facility for obtaining fresh AMFI registration number (ARN) and employee unique identification number (EUIN) for mutual fund distributors. The online registration facility comes as a great boon and relief to new applicants seeking fresh ARN and EUIN in the current lockdown situation in many parts of India in the wake of resurgence of COVID-19 pandemic, AMFI said in a statement.

 

The Association of Mutual Funds in India (AMFI) has restarted a completely paperless online registration process through its website for obtaining ARN and EUIN using One Time Pin (OTP) based Aadhaar authentication. “At AMFI, we look at technology as an enabler that can help ease the process and reduce time spent by distributors or their employees on mundane tasks, so that they can better utilize their time on helping their clients. We urge all our distribution fraternity to take benefit of this feature,” AMFI Chief Executive NS Venkatesh said. In 2017, the industry body introduced a completely online facility for applying for ARN/EUIN using Aadhaar, as well as for ARN and EUIN renewal.

 

However, the facility for fresh ARN using Aadhaar had to be withdrawn pursuant to SC order in September 2018, on usage of Aadhaar. With UIDAI now allowing Aadhaar-based authentication service as well e-KYC , using OTP that can be availed by requesting entities.