The Bombay Stock Exchange (BSE) notified regarding the changes in the online PAN Verification process for Mutual Fund clients at Registrar & Transfer Agent
The following has been stated namely: -
• It states that All the fresh folio creation and client UCCs need to be created on the BSE StAR MF platform as per the details available in the Income Tax Department (ITD)/PAN Card.
• For Individual Clients Date of Birth (DOB) & Date of Incorporation (DOI) for Non-Individuals should be updated/available in client UCCs as per PAN card only.
• In the case of a Minor client, the Guardian Name and DOB shall be mandatorily updated/available in client UCCs as per PAN card only.
•If the Client Name or Date of Birth (DOB)/Date of Incorporation (DOI) is different from the ITD records, then it should be rectified in ITD before the submission of any transactions on the BSE StAR MF platform.
•For existing clients whose Name or DOB/DOI in the folios do not match the PAN/ITD records then clients need to change/update their details either with Mutual Funds/RTA or in the ITD records before executing any additional Purchase/Redemption/Switch transaction
[Notice No. 20240306-35]
