FEMA and Banking
- The Ministry of Finance has permitted the reporting entity, namely ‘Aditya Birla Sun Life Mutual Fund’ , to perform authentication under the Aadhaar Act, 2016. The permission is granted only for the purpose of Aadhar authentication as required u/s 11A of the Money Laundering Act, 2002. Section 11A requires the verification of the identity of reporting entities’ clients and beneficial owners by way of aadhaar authentication.
Notification No. S.O. 5211(E) dated 05.12.24
