Get MIN for hassle-free MF investments: Video

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The Association of Mutual Funds in India (AMFI), today launched a unique mutual fund identification number (MIN), which aims at making investing in MFs hassle-free.

This follows the revised know your customer (KYC) norms for mutual funds, wherein investors are required to provide documents that attest to proof of identity, address, etc., to each mutual fund that they invest in.

AP Kurian, chairman of AMFI, said: "Investors will now have to provide KYC documents and information only once to obtain MIN."

MIN will be provided free to investors and it will be available at select branches and offices of MFs. The application form may be downloaded from www.amfiindia.com.

All MFs have made special arrangements with CDSL Ventures (CVL), which is a subsidiary of Central Depository Services' (CDSL).