Budget 2020

How mutual fund investors can make the most of MFU’s scheduled transactions facility

Mutual fund investors who use the mutual fund utilities (MFU) platforms can schedule their transactions to purchase, switch or redeem funds. The advantage of this facility is that it allows the unit holders to carry out transactions immediately from the next business day, instead of a lead time of T+15 days with a mutual fund. […]

Budget 2020

Digital transactions of over Rs 4 lakh cr done through UPI in Dec 2020: President

NEW DELHI: Over Rs 4 lakh crore worth of digital transactions were facilitated by UPI in December 2020 and more than 200 banks are linked to the UPI system, President Ram Nath Kovind said on Friday. Addressing the joint sitting of Parliament on the first day of the Budget session, Kovind said the trinity of […]

Budget 2020

Sebi’s new NAV framework to bring uniformity; may impact SIP, cheque-based transactions: Experts

NEW DELHI: Markets regulator Sebi‘s new directive, which requires mutual fund houses to allocate units upon realisation of funds irrespective of the ticket size, might impact systematic investment plans (SIPs) and cheque-based transactions, experts said on Friday. However, it will not have any bearing on customers using online platforms for transactions. They further said the […]

Budget 2020

June mobile app transactions at Rs 6 lakh crore

MUMBAI: More Indians used their mobile phones to make payments and to transfer funds in June, than in any previous month since the Reserve Bank of India started recording such data in July 2011. A total of 1.66 billion transactions worth Rs 5.99 lakh crore were processed by various mobile-based banking and payment applications in […]