SEBI vide its Circular dated 23rd March 2023 issued a Circularfor All Mutual Funds (MFs)/ Asset Management Companies (AMCs)/ Trustee Companies/ Board of Trustees of Mutual Funds/ Association of Mutual Funds in India (AMFI).

The Circular States:

SEBI Official allowed the use of E-wallet for investment in mutual Funds with the Limit of INR 50,000.

E-wallet used for investment in mutual funds should be complaint with KYC norms prescribed by the Reserve Bank Of India.

The provision related to E-wallet will be applicable with effect from May 1^st 2023.

The circular is issued to protect the interest of investors in securities and to promote the development and regulate the securities market.

This circular shall come into force with effect from March 23^rd

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