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of <h1>SEBI Reaffirms E-Wallet Use for Mutual Fund Investments Up to INR 50,000 Annually, Effective May 1, 2023.</h1> The Securities and Exchange Board of India (SEBI) issued a circular on March 23, 2023, addressing mutual funds and associated entities regarding e-wallet investments. The circular reiterates that investors can use e-wallets for mutual fund investments up to INR 50,000 per financial year, as per the 2017 guidelines. It emphasizes that e-wallets must comply with the Know Your Customer (KYC) norms set by the Reserve Bank of India. Other provisions from the previous circular remain unchanged, and the new provisions take effect from May 1, 2023, under SEBI's regulatory authority.
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