Mutual Fund Identification Number (MIN) and KYC

Mutual Fund identification number (MIN) and Know your customer (KYC) are the methods followed and deployed by AMFI. They are applicable for investments exceeding 50,000 Rs.

The mutual fund Identification number (MIN) is now discontinued and the new KYC process is put in place. It is applicable for one time investments that exceed Rs. 50,000. KYC stands for know your customer. These processes are put in place to prevent illegal money flowing into the stock markets by anti social elements.

From now on, whoever wants to invest amounts bigger than 50,000 at one go should adhere to these processes.