Those investing in mutual funds will not get the option to invest money by physical means like check or DD after March 31. Money can also not be deposited through digital means like NEFT-RTGS. For this, now only online banking and UPI will have to be used.
There is very important news for those investing in mutual funds. Markets regulator SEBI has made changes to stop payment by cheque, bank draft or other physical mode for investing in mutual funds.
Under the change, to invest money in mutual funds from April 1, 2022, you will have to pay only through UPI or Netbanking. Overall, from March 31, the facility of investing in mutual funds through cheque-DD will be closed and investment can be done only through digital medium.
Payment will become easier
After the introduction of the facility of investing in mutual funds through NetBanking and UPI, payment will become easier in it. Market analysts say that it will now be easier for those investing in mutual funds through apps or other digital platforms. Along with this, the delay in payment will also end.
Payment will not be made through NEFT-RTGS
Not only payment by check and DD has been stopped for investment in mutual funds, but money can also not be deposited through digital means like NEFT-RTGS. The facility of payment through these options will also end after the system is updated. It also comes with options like transfer letters, bankers cheques, pay orders.
Pandemic changed the world
of payment During the Corona epidemic, the mode of payment has completely changed in the country. Most of the people have started preferring digital payments instead of cash and during this time digital transactions have also increased manifold. Experts say that people have started making good use of convenient payment options like UPI and Netbanking.
