SEBI permits investment in mutual funds through digital wallet
Posted on: 27/Apr/2017 6:32:24 PM
SEBI has granted permission for the investors in mutual funds to invest through digital wallets up to Rs. 50000 in a single financial year.
In case, the amount invested in a mutual fund is withdrawn, it should be done only through banking account transactions.
SEBI has further clarified that though permission is granted for investment in mutual fund through digital wallets, no concessions, direct or indirect, such as cash-back offers must be given in this mode.
Also, the money deposited in the digital wallet must be by cash or net banking or debit card. SEBI has informed that money deposited through credit cards cannot be utilised for investing in mutual funds.
SEBI has also approved option trading in the commodity market. The decision to allow this was taken during the board of directors meeting held yesterday (Wednesday, 26th April).
The head of SEBI informed that this was an important decision taken in the goal of expanding the growth of the commodity derivative market. He informed that detailed rules and regulations would be released shortly.
