SEBI allows investors to buy mutual funds via digital wallet
Posted on:11 May 2017 14:59:29
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11 May 2017 Current Affairs:
Stock Exchange board of India (SEBI) allowed investors to buy mutual fund schemes for up to Rs 50,000 through digital wallets, making it easier for them especially the young generation to purchase these instruments.
Mutual Funds(MF) houses or asset management companies (AMCs) have been allowed to provide instant online access facility to resident individual investors in liquid schemes.
The move is part of the efforts to promote digital payments in the MFindustry and channelise household savings into the capital market.
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