Every intermediary needs an ARN code, Register yourself

 Arn Code in mutual fund 

An application reference number is referred to as ARN. Each certified mutual fund distributor or expert is given a different number that they can use to trade in different schemes.

WHY is ARN CODE required?

Everyone has heard the television commercial phrase, "Mutual fund investments are subject to market risk." But that doesn't mean one can't take greater precautions to lower the danger. Therefore, it is the intermediary's responsibility to inform and educate the investor about the potential hazards. The interests of all parties to the transaction will be protected in this way.


To protect investors, SEBI and AMFI take several steps. One such step entails requiring distributors to get an ARN code. For instance, the National Institute of Securities Markets (NISM) certification is required by the Association of Mutual Funds in India (AMFI) for all intermediaries engaged in the sale or marketing of mutual funds. They must sign up with AMFI to acquire certification after passing the exam.

How to get an ARN code?

Computer Age Management Services Pvt. Ltd. (CAMS) handles the registration processing and ARN issuance on behalf of AMFI.

  • The form on which intermediaries should apply is specified. It is accessible online and in the AMFI and CAMS offices. 

  • From the CAMS online service, you may also apply.

  • Send the application form and the acknowledgment from Know Your Dealer (KYD). 

  • The person must physically produce the KYD application form after applying for it.

  • A copy of the intermediary's NISM certification, an Aadhaar card, a PAN card, verification of a bank account, and two passport-size photos are required.

  • The cost is Rs. 3,540 for individuals and seniors, including GST. For corporations and other entities, there will be different costs and documents.

Comments

Post a Comment

Popular posts from this blog

Achieve your Financial Goals with Fixed Deposits

  Financial literacy is growing in India and people are realizing the significance of protecting their wealth against inflation. Thus, an increasing number of people are now looking for options to take their wealth out of savings bank account and put it to use to get something in return. While many are headed to the securities markets to invest their money through mutual funds and stocks, others are seeking for safer or less risky means to grow their funds. A great option here are fixed deposits that earn you a fixed interest rate on your funds. After a period of several quarters, banks are also increasing their FD interest rates to make fixed deposit schemes more lucrative for depositors. If you would also like to put your excess funds in FDs, then this article is for you. Here you will find interest rates of several banks to help you find the best option for you. So, without taking anymore time, let us begin.  Canara Bank FD Interest Rates - This is among the fastest growing banks in
Read more

Things to know about Kotak Health Insurance Plan

Image
  Kotak Health Insurance Plans started in the year 2015 after getting the license from IRDI. Kotak Insurance came up with a host of plans which had something or the other for every age group. Due to these plans, Kotak Health Insurance has established its wide presence across the country. The company comes up with a wide spectrum of non-life insurance plans that are designed with the intention of meeting each and every requirement of the customer. This includes health insurance plans, car insurance plans and bike insurance plans. W hat are the tax benefits of Kotak health Insurance ? Under Kotak Health Insurance, a person gets many tax benefits – Deduction as per Section 80D: Medical Expenses Deduction ·        80D deduction is applicable only for medical insurance policies. These deductions are mentioned as follows:- ·        If you pay insurance premiums for yourself, your spouse and your children, you can claim a maximum tax deduction of ₹25,000 per year. In case of senior
Read more