Voluntary debit freeze facility introduced to prevent debits from mutual fund folios until investors unlock them via MF Central. A voluntary debit freeze will prevent debits from demat and non demat mutual fund folios until unlocked, to be enabled via the MF Central RTA platform for KYC compliant investors with validated email and mobile. AMFI will prescribe locking/unlocking procedures and the list of permitted transactions during the lock period, with AMCs/RTAs required to disclose the process and impacts on their websites and in the Statement of Additional Information.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Voluntary debit freeze facility introduced to prevent debits from mutual fund folios until investors unlock them via MF Central.
A voluntary debit freeze will prevent debits from demat and non demat mutual fund folios until unlocked, to be enabled via the MF Central RTA platform for KYC compliant investors with validated email and mobile. AMFI will prescribe locking/unlocking procedures and the list of permitted transactions during the lock period, with AMCs/RTAs required to disclose the process and impacts on their websites and in the Statement of Additional Information.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.