Two-Factor Authentication for transactions in units of Mutual Funds

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....s of Trustees of Mutual Funds All Registrar to an Issue and Share Transfer Agents ('RTAs') Sir / Madam, Subject: Two-Factor Authentication for transactions in units of Mutual Funds 1. SEBI Circular No. SEBI/HO/IMD/IMD-I DOF5/P/CIR/2021/634 dated October 04, 2021 introduced various measures to prevent third-party payments and to safeguard the interest of unitholders. The Circular, inter-alia, r....

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.... further modified as under: "4.4. In case of subscription and redemption of units, Two-Factor Authentication (for online transactions) and signature method (for offline transactions) shall be used for authentication. One of the Factors for such Two-Factor Authentication for non-demat transaction shall be a One-Time Password sent to the unit holder at his/her email/ phone number registered with t....

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....hall remain unchanged. 5. Implementation Schedule: 5.1. Based on discussions with stakeholders, it has been decided that the provisions of this Circular shall be applicable with effect from April 01, 2023. 5.2. The AMCs, AMFI, recognized Stock Exchanges, Depositories, recognized Clearing Corporations and Registrar to an Issue and Share Transfer Agents shall take necessary steps for implementi....