The Securities and Exchange Board of India (SEBI) on March 23, 2023, issued a notification regarding E-wallet investments in Mutual Funds.
SEBI, vide Circular Ref. no- SEBI/HO/IMD/DF2/CIR/P/2017/39 dated May 8, 2017, permitted the use of an e-wallet for investment in Mutual Funds within the umbrella limit of INR 50,000 for investments by an investor through both e-wallet and/or cash, per Mutual Fund per financial year.
In this context, it should be ensured that all e-wallets are fully compliant with KYC norms as prescribed by the Reserve Bank of India.
All other provisions mentioned in the aforesaid Circular shall remain unchanged.
The provisions of this circular shall be applicable with effect from May 01, 2023.
[Notification No. SEBI/HO/IMD/IMD-PoD-2/P/CIR/2023/40]
