If investors do not get KYC done, they will not be allowed to do any mutual fund transaction from April 1. Be it SIP, SWP or redemption. Keep in mind that if you invest through MFD (Regular Plan), you will be informed about re-doing your KYC if required. But, if you are investing yourself (in direct plan), then it is not necessary that you get this information.
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Also read- Big news for 25 stocks including Tata, SBI, this important change came into effect, understand this rule before buying and selling stocks.
Why is KYC being done again?
Moneycontrol spoke to a few mutual fund houses, only one of them confirmed that some investors had received emails/SMS informing them about this. One of the few mutual fund houses also said that they have not sent any such information to their investors.
Responding to the need for re-KYC, Amol Joshi, MFD and Founder, PlanRupee Investment Services, said that as per these emails, re-KYC is being done to ensure compliance with the SEBI Master Circular on KYC norms for the securities market. .
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Tags: Business news in hindi, Mutual fund investors, Returns of mutual fund SIPs, Stock market today
FIRST PUBLISHED : March 28, 2024, 10:42 IST
