The CAN can be opened electronically, this is called eCAN

You will need a self attested scan of PAN Card and Cheque copy and other documents based on the type of account

Investor needs to be KYC Verified, to check you can click here

You can read more about it here

The eCAN will opened via your ARN and will show on CAN Tracker if you have signed up with MFU (This is optional)

There are 2 ways to open a CAN

  1. Through Open MFU CAN link in the main dashboard
  2. Through Bulk Upload/Manage Users
  1. After you Login, from the Main Screen Click on "Open MFU CAN"
    You can enter details, attach the required documents and Submit
    A provisional CAN is opened immediately
    It takes 1-7 days for CAN to be approved by MFU
    It will show on the Dashboard/List MFU CAN
    The status will change to "Approved" once MFU approves it
    An Agreement will also be sent to the Investor for approval (Approval Options -
    Investor agreement can be accepted before the CAN is approved and vice versa
    Only when the "CAN is Approved and Agreement is accepted" you will be able to do the transactions for the investor
  2. On the top Menu Click on Bulk Upload, from the Sub Menu select Upload File
    You can now upload the respective file from KFintech and CAMS (The same has to be requested through mailback services)
    After the file is uploaded it will take 5-30 minutes depending on the number of investor for the data to populate (This will not count towards your CAN Quota if any)
    Once the data is populated the system automatically checks for existing CAN for the Investor

    Remember - If a CAN was opened by someone else you can use the CAN for doing transactions as only the folio decides the brokerage and other mapping criteria and not the CAN.

    Now you can start submitting the CANs for processing, only these CAN will count towards your Quota
    If its an Existing CAN after processing the same will start reflecting in the List MFU CAN/Agreement not Sent
    If its a new CAN then the Agreement goes immediately and the same will start reflecting in the List MFU CAN