Wednesday, February 1, 2023
Market-Reporter
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate
No Result
View All Result
Market-Reporter
No Result
View All Result
Home Mutual Funds

Mutual fund investor alert! You may not be able to redeem your MF units from July 1

MtR by MtR
June 24, 2021
in Mutual Funds
0


Mutual fund investor alert!


Representational image&nbsp

New Delhi: Mutual Fund (MF) investors may not be able to make fresh investments and even redemptions from their existing MF investments if their Permanent Account Number (PAN) becomes invalid after June 30, 2021. As per the regulatory guidelines, PAN-Aadhaar linking will become mandatory for any carrying out any MF transactions with from July 1, 2021. Without linking with Aadhaar number, PAN of a person will be invalid.

Related articles

ELSS mutual fund inflows drop over 48% in July: Should you invest?

August 10, 2022

What should investors in China and Taiwan funds do now?

August 9, 2022

According to a survey done by  Registrar and Transfer Agent (RTA) Computer Age Management Services (CAMS), some of the PANs furnished by MF investors are invalid as per Income Tax database.

Worth mentioning here is that as per market regulator Sebi’s guidelines, PAN status of an investor mush be ‘valid’ in order to carry out the following transactions:

Fresh Purchase

Investors (both new and existing) can not make any fresh investment in their existing MF schemes or in any new scheme if their PAN status is not valid. 

Additional Purchase

If the PAN becomes invalid, existing investors will not be able to buy any additional units even in their existing MF folios.

SIP

The regular investments by the existing investors through Systematic Investment Plan (SIP) will also stop in case the PAN of an investor becomes invalid because of not linking it to their Aadhaar.

Redemption

In case the PAN becomes invalid, MF investors can’t even access their own money invested in MF schemes as redemption requests will not be processed.

STP

If PAN of an investor becomes invalid, then any investment through Systematic Transfer Plan (STP) will also be stopped. 

SWP

An invalid PAN may also derail the monthly budget of an investor as the redemption through Systematic Withdrawal Plan (SWP) will also stop.

Also, one may face higher TDS, disruption in banking services from July 1 if he/she fails to link his PAN with his/her Aadhaar number. 

Hence it is advised that if there is any change in PAN details of an investor, causing problems in linking it with Aadhaar, he may request the respective AMCs or RTAs for updation of correct PAN before July 1, 2021.

However, if the given PAN is correct, investors need to take it up first with the Income Tax authorities for making corrections in PAN status and. Once the correction is made he can inform the AMCs/RTAs for making further validations.



Source link

Related Posts

ELSS mutual fund inflows drop over 48% in July: Should you invest?

by MtR
August 10, 2022
0

According to monthly data issued by the Association of Mutual Funds in India, net positive inflows to equity mutual funds...

What should investors in China and Taiwan funds do now?

by MtR
August 9, 2022
0

After diversifying to the US markets, Indian investors had sometime back taken a fancy to the Greater China region, comprising...

How To Handle Erratic Bond Markets – Fortune India

by MtR
August 9, 2022
0

How To Handle Erratic Bond Markets  Fortune India Source link

Money Guru: 10 funds for financial independence, this 15th August – details – Zee Business

by MtR
August 9, 2022
0

Money Guru: 10 funds for financial independence, this 15th August - details  Zee Business Source link

Sen. Rubio questions Thrift Savings Plan’s exposure to Chinese companies in new mutual fund window

by MtR
August 9, 2022
0

The $706.9 billion Thrift Savings Plan, the retirement plan for 6.6 million federal employees and members of the uniformed services,...

Load More
  • Trending
  • Comments
  • Latest

Bank of England tells ministers to intervene on digital currency ‘programming’

June 21, 2021

Tips for checking smoke alarms during daylight saving time

March 12, 2022

GLOBAL MARKETS-U.S. stocks follow Europe up; Treasury yields rise, dollar firm

July 9, 2021

What will Durham County education bonds pay for? A full list

July 8, 2022
African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

African currencies week ahead: Zambia's kwacha seen on back foot, Kenyan shilling up – Business Recorder

0
Maxum Foods releases Global Dairy Commodity Update for June

Maxum Foods releases Global Dairy Commodity Update for June

0
Letter: Perpetual bonds can help states fight hunger

Letter: Perpetual bonds can help states fight hunger

0
United Kingdom ETFs Are Riding the Re-Opening Momentum

United Kingdom ETFs Are Riding the Re-Opening Momentum

0

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Industrial Lubricants Market to Reach $71 Billion by 2027.

August 10, 2022

Recent News

Investment in overseas real estate surges : The DONG-A ILBO

August 11, 2022

U.S. inflation CPI report, Wall Street, currencies

August 10, 2022

Alberta oil production set new record in first half of 2022

August 10, 2022

Categories

  • Asia
  • Bonds
  • Canada
  • Commodities
  • Cryptocurrencies
  • Currencies
  • Emerging Markets
  • ETFs
  • Europe & Middle East
  • IPOs
  • Latin America
  • Mutual Funds
  • Personal Finance
  • Real Estate
  • Retirement
  • Spending & Saving
  • Stocks
  • U.S. Markets
  • Privacy & Policy
  • About Us
  • Contact Us
  • Advertise with us

© 2021 Copyright Market-Reporter

No Result
View All Result
  • Home
  • Markets
    • U.S. Markets
    • Canada
    • Europe & Middle East
    • Emerging Markets
    • Asia
    • Latin America
  • Investing
    • Stocks
    • IPOs
    • Mutual Funds
    • ETFs
    • Bonds
    • Commodities
    • Currencies
    • Cryptocurrencies
  • Economy & Politics
    • Personal Finance
    • Spending & Saving
    • Retirement
    • Real Estate

© 2021 Copyright Market-Reporter