The month of March and the current financial year (FY23) is about to end in a few days. With this, the new financial year (FY24) will start from the next month i.e. 01 April 2023. Like every time, this time too, along with the change in the financial year, some rules and regulations will also change (Mutual Fund Rules Change). There are some similar changes, which are related to Mutual Fund Investors. Today we are going to talk about such changes…
This is one of the most important changes for mutual fund investors. Such investors will have to either declare the nominee by March 31, or opt out. If investors do not do either of the two, then their investment will be frozen and they will not be able to redeem any of their investment. Investors can do this work online through Registrar and Transfer Agents like KFintech and CAMS or through MFCentral.
Linking PAN and Aadhaar (PAN and Aadhar linking)
By March 31, it is necessary for everyone to link PAN and Aadhaar. If you invest in mutual funds, then it becomes all the more important. If you don’t link them, your PAN will stop working from April 01, and in such a situation, MF folios can also be restricted.
Till now OTP was required only at the time of redeeming the investment, but now OTP will be required while investing i.e. investing money in mutual funds. SEBI has changed the rules related to this. The new rules will come into effect from 01 April. After this you will get OTP on mobile number and email id to invest somewhere.
Investors who used Aadhaar for KYC before November 01 will have to get their KYC revalidated before April 30. SEBI has issued circular in this regard.
Disclaimer: (The information provided here is for information only. It is important to mention here that investment in mutual funds is subject to market risks. Always take expert advice before investing money as an investor. It is never advised to invest money here.)
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