e-KYC Features

e-KYC (Electronic Know Your Customer) Features

When someone want to open bank/mutual fund & other account, the biggest challenge faced is submission of multiple documents such as address proof, ID proof and others. But Ministry of Finance, Government of India has given their approval for paperless authentication or eKYC.

What is eKYC

  1. eKYC service is offered by UIDAI and it’s main objective is for the verification of his/her credentials digitally
  2. Aadhar card holders can now get following personal details verified at various organizations while applying for new account:
  • ID & Address Proof
  • E-mail Address
  • Mobile Number
  • Gender
  • Photograph

3. This way, paper documents which had traditionally been mandatory for verification won’t be required saving time, efforts and cost of bank employees and customers.


What customer needs to do:

In order to free themselves from carrying hard copy of required documents everytime; Aadhar card holders will have to give their consent to the banks banks to access their data from UIDAI’s Central Data Repository.

How banks will verify customers electronically

  • Organizations wanting to use eKYC service will have to get approval and authorization by UIDAI
  • For verification, these organizations will have to use biometric scanning devices approved by Unique Identification Authority of India (UIDAI) and register the device with UIDAI so that data can be accessed through the device
  • These organizations will then need just the unique Aadhar identification number and then scan fingerprints of the customers through biometric readers.
  • This will fetch customer details such as – full name, address, date of birth, mobile number, gender and photograph and will also access and copy all the KYC documents from the UIDAI servers and save electronic copy of all the documents for opening the account in their database for future use.
  • Once these details are verified, accounts will be opened instantly which otherwise takes atleast a week.
  • As of now, the device is offered at no cost.
  • Data would be accessed online in a highly secured environment.

Which organizations make use of Aadhar eKYC

As of now, following financial service providers are using eKYC facility while opening new accounts:

  • Banks
  • Fund houses
  • Trading Account
  • Insurance companies

As time progresses, Aadhar eKYC will make every Indian’s life hassle free as overall processing will become easy.

DSP BlackRock Opportunities Fund Performance

Performance DSPBR Opportunities fund Vs Benchmark: As on 11Th Jan 2017

Scheme Name AUM 1 Month 3 Months 6 Months 1 Year 3 Years 5 Years 10 Years YTD Since Inception
DSP BlackRock Opportunities Fund – Reg – Growth 1,302 3.07% -3.18% 5.90% 20.80% 21.73% 19.03% 11.75% 4.72% 18.66%
Nifty 50 2.89% -3.39% -1.34% 11.91% 10.82% 11.70% 7.56% 2.50% 13.69%
Nifty 500 2.97% -3.91% 0.55% 12.86% 14.49% 13.73% 7.95% 3.29% 9.22%


Investing in ELSS Funds to Save Tax is the Best Tax Saving Options in India for 2017.

Top 4 Tax Saver Mutual Funds for 2017 – 2018

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

Reliance Arbitrage Advantage Fund

Reliance Arbitrage Advantage Fund Strategy:

· A Conservative Arbitrage Fund.

· The fund aims to generate income through arbitrage opportunities arising out of pricing mismatch in a security between cash and derivative segment and with derivatives segment along with investments in debt securities and money market instruments.

· Completely hedged portfolio, takes offsetting positions on various markets simultaneously.

· Market neutral; No specific Equity risk.

· In the absence of adequate arbitrage opportunities, the scheme may invest in short term debt or money market securities.

· Completely hedged positions, neutralizes market risk (volatility) and targets absolute returns irrespective of market conditions.

Options Available:

· Growth

· Monthly Dividend – Payout Option and Reinvestment Option

· Dividend: Payout Option and Reinvestment Option

Scheme Information:

· AUM: 3816.188 Crs as on 31st Nov 2016

· Exit Load: 0.25% for 1 Month, Nil thereafter.

Fund Performance:

Report as on: 02-Jan-2017
Compounded Annualised (Return in %) Absolute (Return in %)
Schemes NAV Launch Date Since Inception 5 Years 3 Years 2 Years 1 Year 6 Months 3 Months 2 Months 1 Month 2 Weeks 1 Week
Reliance Arbitrage Advantage Fund – Growth 16.553 14-Oct-10 8.433 8.406 7.416 7.265 6.522 3.332 1.578 0.977 0.473 0.35 0.2

Dividend Track Record (Monthly Dividend Option)

Fund has given consistent dividend. Monthly Dividend History of the Fund. elow Dividend declared under Monthly Dividend Option.

Reliance Arbitrage Advantage Fund
Monthly Dividend option
Record Date Rate (Re/ Unit) Cum Dividend NAV *EX Dividend NAV Dividend Yield on Cum Dividend
26-Dec-16 0.05 10.5785 10.5298 0.47%
21-Nov-16 0.05 10.5829 10.5324 0.47%
24-Oct-16 0.05 10.5719 10.5219 0.47%
26-Sep-16 0.05 10.5681 10.5181 0.47%
30-Aug-16 0.05 10.5686 10.5186 0.47%
25-Jul-16 0.05 10.5539 10.5039 0.47%
27-Jun-16 0.05 10.5376 10.4876 0.47%
23-May-16 0.05 10.5283 10.4783 0.47%
25-Apr-16 0.05 10.5289 10.4789 0.47%
28-Mar-16 0.05 10.5210 10.4710 0.48%
22-Feb-16 0.05 10.5167 10.4667 0.48%
25-Jan-16 0.05 10.5267 10.4767 0.47%
28-Dec-15 0.05 10.5284 10.4784 0.47%
23-Nov-15 0.05 10.5245 10.4745 0.48%
26-Oct-15 0.05 10.5267 10.4767 0.47%
21-Sep-15 0.05 10.5292 10.4792 0.47%
24-Aug-15 0.05 10.5123 10.4623 0.48%
27-Jul-15 0.05 10.5084 10.4584 0.48%
22-Jun-15 0.10 10.5552 10.4552 0.95%
25-May-15 0.05 10.5397 10.4897 0.47%
27-Apr-15 0.05 10.5102 10.4602 0.48%
23-Mar-15 0.10 10.4856 10.3856 0.95%
27-Jan-15 0.10 10.4560 10.3560 0.96%
25-Nov-14 0.02 10.3107 10.2890 0.21%
27-Oct-14 0.05 10.2904 10.2404 0.49%
22-Sep-14 0.06 10.2963 10.2363 0.58%
25-Aug-14 0.06 10.3130 10.2530 0.58%

Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

eKYC Guide


Contact Save Tax Get Rich for eKYC

Now that SEBI has allowed Aadhaar based e-KYC service for MF investors, CAMS is facilitating it on its website and on AMC websites serviced by it. Investors with Aadhaar number and PAN can complete KYC process using Aadhaar based eKYC and open a folio without having to submit forms and doing in-person verification (IPV), claims CAMS.

After the KYC process is completed, investors can open a folio and start transacting in direct and regular plans. CAMS also allows investors to do transactions by keying in distributors ARN code, sub broker code and EUIN.

According to SEBI rules, investors can invest up to Rs 50,000 per financial year per mutual fund using one time password (OTP) based eKYC. However, investors who wish to invest more than this limit need to undergo IPV or biometric based authentication at CAMS point of service.

A number of fund houses have also launched eKYC service for investors. Reliance, Quantum, Birla Sun Life have introduced eKYC service which aims to expedite the process of client verification and reduce paperwork for distributors.

All investors need to do is fill up the online KYC form by keying in details like name, mobile number, email id, address, PAN details etc. and upload the supporting documents like PAN, bank details and address proof. The fund house will verify the information and schedule an online meeting with a client based on his/her convenience to carry out electronic In-Person Verification (e-IPV). Once the e-IPV is done, the fund house will send the application to KYC Registration Agency (KRA) to process the documents.

Typically, KYC Registration Agencies (KRAs) take 8 to 10 days to verify a KYC application. By going electronic, fund officials say that KYC can now be done on a real time basis. Banks and insurance companies are already using Aadhaar linked e-KYC service to carry out their KYC verification procedure. However, many banks and insurance companies insist on submitting physical documents even after carrying out e-KYC.

ICICI Prudential Long Term Equity Fund – Tax Saving Fund

The ICICI Prudential Long Term Equity Scheme seeks long-term capital appreciation by investing approximately 90 per cent of the investments in equity instruments, while the balance 10 per cent would be a parked in debt and money market instrument and cash ( Including-money at call).

This fund has outpaced its benchmark over not one but three different market cycles; it has beaten its benchmark in 13 of the last 15 years. A rare ELSS fund that focuses on the value style of investing, it has managed a four- or five-star rating pretty consistently since 2011.

The fund’s valuation-focused style has helped it regain its four-star rating recently after a blip to three stars for a brief period. The portfolio is constructed around stocks and sectors with cheaper valuation that nevertheless goes with reasonable growth expectations.

Typically 55-65 per cent of its portfolio is allocated to large caps, 20-30 per cent to mid caps and 10-15 per cent to small caps. In the last one year, mid-cap allocations have been raised from 25 to 40 per cent, with small-cap weights trimmed.

ICICI Prudential Long Term Equity Fund is a rare ELSS fund that has managed to stay one step ahead of the benchmark on a trailing one-, three-, five- and ten-year basis, while also beating the category over these periods. The fund’s investment strategy typically delivers outsized returns in the beginning stages of a bull market when sector rotation is in vogue. It trails when markets are overheated. It also works well in containing losses when bears are in control. The value style of stock-picking has suffered setbacks in the last five years but seems to be back on the saddle in the last one year or so.

Overall, with the market tide turning currently, this fund is a good option to get in on trends ahead of the stampeding herd.


How to get eKYC Done


eKYC for Mutual Funds

The Securities and Exchange Board of India (Sebi) has issued guidelines under The Prevention of Money Laundering Act, 2002 (PMLA) which requires investors to be KYC (Know Your Customer) compliant before investing in mutual funds. Completing KYC for investors was a major hurdle for distributors to get investors on board. To solve this problem, Sebi has launched eKYC in mutual funds.

What is eKYC in MFs?

eKYC is a paper less Aadhaarbased process for fulfilling KYC requirement to start investing in mutual funds (MFs).

This has been imple mented after Sebi recently allowed Aadhaar based KYC to be used for MF investments, for the convenience of inves tors. Karvy and CAMS on have facilitated eKYC for investors in MFs.

How does eKYC work and what are the benefits?

The regular KYC process re quires submission of KYC form with investor signature and additional documents for ID and address proof. IPV and sighting the original documents needs to be completed by a competent person. eKYC completely eliminates paper work and IPV to complete the KYC process. CAMSKarvy 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).

What does an investor need to get this process initiated?

Investor can visit the website of CAMS or Karvy . He needs Aadhaar number, PAN number and personal details such as mobile number and email-id. Mobile number is mandatory . He can authenticate himself by receiving OTP on mobile number.

What is the maximum amount of transaction one can make through OTP-based eKYC?

Sebi, the regulatory body, has provided guidance to restrict investments to `50,000 per annum per MF for OTP-based eKYC.However, in case of more investment, the investor needs to do IPV or biometric-based authentication. That can be done through a distributor, or at any office of CAMS / Karvy

How to Save Tax Get Rich

Save Tax Get Rich by Investing in below Top 4 Tax Saver Mutual Funds for 2017 – 2018

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund

Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Invest in Best Performing 2017 Tax Saver Mutual Funds Online

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Download Top Tax Saver Mutual Funds Application Forms

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