SEBI vide its Circular dated October 04, 2013, and dated December 09, 2014 had permitted mutual fund distributors to use recognised stock exchanges’ infrastructure to purchase and redeem mutual fund units directly from Mutual Fund / Asset Management Companies.
Subsequently, SEBI vide its Circular dated October 19, 2016 allowed SEBI Registered Investment Advisors (RIAs) to use infrastructure of the recognised stock exchanges to purchase and redeem mutual fund units directly from Mutual Fund/ Asset Management Companies on behalf of their clients, including direct plans.
In order to further increase the reach of this platform, it has been decided to allow investors to directly access infrastructure of the recognised stock exchanges to purchase and redeem mutual fund units directly from Mutual Fund/ Asset Management Companies.
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