Saturday, February 10, 2007

MIN for Mutual Funds

MIN is Mutual Fund Identification Number. This is the latest to hit us all . A person living in India has to have multiple identifications . I just fail to understand why life has to be made complicated . We already have a Voters card , a PAN card,a UIN card , and probably so many more . There should be only one card which suffices to vote , to invest, to operate accounts , etc.

When I went through the instructions given for MIN, I realized that a lot of work lies ahead . From the website I printed out the required forms. I was fortunate to read the instructions carefully again as the instructions page has to be printed back to back to the main form . Good that I read it or else when xeroxing , I would have made a mistake.

Though the instructions are clear , it is going to be very tedious affair. All joint holders have to have their individual MINs . So copies of each ones identity and proof of residence is required. Next in the application form I have to be careful when writing the order of names,middle name and surname. It should match the order in the Folios .

All copies if self attested will have to be verified taking the originals. If not they have to be attested by appropriate authorities. I was wondering if I had to go all the way to Mumbai to submit all the documents , but on reading the web page ,I found that Thane was also a Point of Service.What luck. I have to get on this work now sparing some scarce time for it.

In the participating Funds I did not read about ICICI Mutual Funds.I only pray they wont require a separate MIN, and also spare us from further identities.

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