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of <h1>SEBI Updates Mutual Fund Investment Rules for Minors: Payments and Redemptions Now More Secure and Regulated.</h1> The Securities and Exchange Board of India (SEBI) has updated guidelines for investments in mutual funds in the name of minors through guardians. Payments for such investments can be made from the minor's bank account, the parent's or legal guardian's account, or a joint account with the minor. Redemption proceeds must be credited to the verified bank account of the minor, held with the parent or legal guardian, after completing KYC formalities. These changes are effective from June 15, 2023, and aim to protect investors and regulate the securities market. All other provisions from the previous circular remain unchanged.
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