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of <h1>SEBI Circular: New Rules for Minor Investments in Mutual Funds and Unit Transmission Procedures.</h1> The circular issued by SEBI outlines standardized procedures for investments in mutual funds made in the name of minors through guardians and the transmission of units. Payments for investments must originate from the minor's bank account or a joint account with the guardian. Upon reaching adulthood, the minor must update KYC and bank details to continue transactions. For unit transmission, AMCs are to use image-based processing, provide dedicated support, and adopt uniform forms and document requirements. AMCs must also handle unclaimed funds uniformly and cannot process redemptions until unit transmission is complete. The AMFI is tasked with standardizing related forms and processes.
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