Markets regulator Sebi on Friday introduced a voluntary debit freeze facility for mutual fund investors across demat and non-demat folios to promote their digital security.
The facility, which will become effective from April 30, ensures that no units are debited from mutual fund folios until they are unlocked.
“It is decided that a voluntary debit freeze facility be introduced for mutual fund investors across demat and non-demat (i.e. Statement of Account) folios to ensure that no units shall be debited from such folios till the time they are unlocked,” Sebi said in its circular.
In the first phase, the facility to lock the folio would be provided to mutual fund investors by the RTAs (Registrar and Transfer Agent) through MF Central platform. The facility will only be available to KYC-compliant investors who have a valid email ID and mobile number (both mandatory).
Industry body Amfi will prescribe the detailed process for locking and unlocking folios to all asset management …​Markets regulator Sebi on Friday introduced a voluntary debit freeze facility for mutual fund investors across demat and non-demat folios to promote their digital security.
The facility, which will become effective from April 30, ensures that no units are debited from mutual fund folios until they are unlocked.
“It is decided that a voluntary debit freeze facility be introduced for mutual fund investors across demat and non-demat (i.e. Statement of Account) folios to ensure that no units shall be debited from such folios till the time they are unlocked,” Sebi said in its circular.
In the first phase, the facility to lock the folio would be provided to mutual fund investors by the RTAs (Registrar and Transfer Agent) through MF Central platform. The facility will only be available to KYC-compliant investors who have a valid email ID and mobile number (both mandatory).
Industry body Amfi will prescribe the detailed process for locking and unlocking folios to all asset management … ​Latest News [ SOBAN NEWS: International and National ]
