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Sebi May Soon Allow Purchasing Mutual Funds with Digital Wallets
April 24, 2017
If all goes well, Securities and Exchange Board of India may allow the investors to buy mutual funds up to Rs. 50,000 via digital wallets, thereby making an investment in these instruments easy and convenient. If the ruling goes through it will also minimize the cases of transaction failures at the payment gateways.
Sebi is also planning to issue regulations for an instant withdrawal facility in liquid mutual funds, and allow Asset Management Companies to partner with payment banks for providing digital payment facilities to the investors.
Sebi will discuss the proposed changes next week, after which the final decision will be made.
