What is the Common Account Number (CAN) which has been initiated now?
Is it obligatory for KYC accredited investors to apply for this?
- Ganapathy
No, it is not mandatory for KYC registered investors to obtain CAN. The Common Account Number (CAN) is a reference number being issued to MF investors so that they avail of the new MF Utility platform. The platform facilitates consolidation of an investor's holdings across different fund houses into a single statement. It also facilitates transaction in multiple schemes using a common transaction form.
This article was originally published on April 07, 2015.