Saturday , 24 March 2018
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Now you can invest in Mutual funds via digital e-wallets


SEBI has issued guidelines for using e-wallets in Mutual funds investment. After demonetisation many people are using e-wallets and it will make it easier for them if mutual funds investment is allowed via e-wallet.  Following are the guidelines:

  • Investment upto Rs 50000 per mutual fund per financial year can be made using e-wallet. Further, this limit of Rs 50,000 would be an umbrella limit for investment by an investor through e-wallet and/or cash, per mutual fund per financial year.
  • E-wallet’s balance loaded through cash or debit card or net banking, can only be used for subscription to mutual funds schemes and balance loaded through credit card, cash back, promotional scheme etc. should not be allowed for subscription to MF schemes
  • E-Wallet companies must not offer any incentive / cashback directly or indirectly for investing in MF schemes through them
  • Redemption can be made only to the investor’s bank account

List of popular e-wallets in India

  • Paytm
  • Freecharge
  • Mobikwik
  • PayUmoney
  • CitrusCash
  • Airtel Money
  • Oxigen Wallet
  • OLAMoney
  • HDFC PayZapp
  • Chillr by HDFC
  • Pockets by ICICI bank
  • JioMoney
  • SBI Buddy
  • mRupee
  • Itzcash

If you have any queries related to this article or any other personal finance query ( Investment, Taxation etc), please comment below

About wealth18

The author is a Chartered Accountant and loves to write about Personal Finance, Wealth Management, Taxation etc. Disclaimer - The articles on this website is for informational and knowledge purposes and should not be treated as financial advice, Please consult your financial advisor before taking any investment decision.

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