E- wallet for investment in Mutual Funds


SEBI vide notification dated March 23, 2023 has permitted use of e- wallet for investment in Mutual Funds within the umbrella limit of INR 50,000 for investments by an investor through both e- wallet and/or cash, per Mutual Fund per financial year.

It should be ensured that all e-wallets are fully compliant with KYC norms as prescribed by Reserve Bank of India.

The provisions of this circular shall be applicable with effect from May 01, 2023.

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