SEBI extends the ‘Two-Factor Authentication’ for subscription transactions in the units of Mutual Funds
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- Last Updated on 3 October, 2022
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Circular No. SEBI/HO/IMD/IMD-I DOF1/P/CIR/2022/132, Dated: 30-09-2022
The SEBI has decided to extend the Two-Factor Authentication for subscription transactions in the units of Mutual Funds. Accordingly, Two-Factor Authentication (for online transactions) and signature method (for offline transactions) shall be used for authentication in case of subscription and redemption of units. Also, in the case of a demat transaction, the process of Two-Factor authentication as laid down by the depositories shall also be followed.
Further, in the case of mandates/systematic transactions, the SEBI clarified that the requirement of two-factor authentication, is applicable only at the time of registration of mandate/systematic transactions.
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