SC Delivers Split Verdict on Disciplinary Action to be Taken Against an Advocate-On-Record  ||  Centre to SC: Certain Provisions of Waqf (Amendment) Act, 2025 Not to be Acted Upon for Time Being  ||  SC Disposes of Petitions Seeking Access to Courtroom Proceedings through Virtual Links  ||  Delhi HC Directs Removal of 'Captain Blue' Mark in Plea by Manufacturer of ‘Captain Morgan’  ||  SC: Consumer’s Right to Protest Peacefully Without Falling Foul is a Corresponding Right  ||  SC Shows Inclination to Appoint a Commission of Inquiry to Enquire into Activities of Sports Federati  ||  SC: Subsequent Judgment that Overrules Earlier Judgment to Apply Retrospectively  ||  SC Expresses Reluctance to Transfer to Itself Petitions Challenging Anti-Conversion Laws of States  ||  Madras HC: Inspector General of Registration to Ensure No Society is Registered With a Caste Name  ||  SC: Union & ECI Given Time to Respond on Challenge to Conduct of Election Rules    

E-wallet investments in Mutual Funds- (Securities and Exchange Board of India) (23 Mar 2023)

MANU/SMFD/0002/2023

Capital Market

1. SEBI, vide Circular Ref. no.- SEBI/HO/IMD/DF2/CIR/P/2017/39 dated May 8, 2017, 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.

2. In this context, it should be ensured that all e-wallets are fully compliant with KYC norms as prescribed by Reserve Bank of India.

3. All other provisions mentioned in the aforesaid Circular shall remain unchanged.

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

5. This circular is issued in exercise of the powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, read with Regulation 77 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Tags : E-WALLET   INVESTMENTS   MUTUAL FUNDS  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved