E-Wallet Investments in Mutual Funds require Full KYC Compliance as per RBI: SEBI
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- By Chetan Kulasri
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- Last Updated on 25 March, 2023
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SEBI CIRCULAR NO. SEBI/HO/IMD/IMD-POD-2/P/CIR/2023/40, Dated March 23, 2023
The SEBI, vide Circular Ref. no- SEBI/HO/IMD/DF2/CIR/P/2017/39 dated May 8, 2017, had allowed the use of e-wallets for investment in mutual funds within the umbrella limit of Rs 50,000 for investments by investors.
Now, the SEBI has notified that E-wallets used for investing in mutual funds should be compliant with KYC norms prescribed by the Reserve Bank of India (RBI). The circular shall be applicable w.e.f May 01, 2023.
Click Here To Read The Full Circular
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