{"id":2837,"date":"2020-06-08T12:34:02","date_gmt":"2020-06-08T07:04:02","guid":{"rendered":"https:\/\/www.finsafe.in\/financial-wellness\/?page_id=2837"},"modified":"2022-11-18T12:32:19","modified_gmt":"2022-11-18T07:02:19","slug":"feb-2020-monthly-updates","status":"publish","type":"page","link":"https:\/\/www.finsafe.in\/financial-wellness\/feb-2020-monthly-updates\/","title":{"rendered":"Monthly Updates"},"content":{"rendered":"\t\t
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16) In Feb 2020, PAN and Aadhar linking became mandatory and had to be done by 31st Mar 2020. In mutual funds, investors could now choose direct option to invest through stock exchange. KYC norms were also changed in mutual funds and you had to compulsorily complete first and only then can you invest in mutual funds. <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Products<\/td>\nParticulars<\/td>\nOld<\/td>\nNew<\/td>\n<\/tr>\n
Permanent Account Number \/PAN<\/td>\nPAN and Aadhaar linking<\/td>\nNot mandatory<\/td>\nPAN will become inoperative if not linked to Aadhaar before March 31 2020- To Link PAN to Aadhaar \u2013 use the below Income tax link –https:\/\/www1.incometaxindiaefiling.gov.in\/e-\n<\/a>FilingGS\/Services\/LinkAadhaarHome.html\n<\/a><\/td>\n<\/tr>\n
Mutual Fund<\/td>\nDirect Investment in Mutual Fund through Stock Exchange<\/td>\nMutual Fund investments were allowed only through registered investment advisors, distributors<\/td>\nInvestors can now choose direct option to invest through stock exchange<\/td>\n<\/tr>\n
Mutual Fund<\/td>\nKYC norms in Mutual Fund<\/td>\nKYC was accepted with application and first investment till 29 Feb<\/td>\n-KYC needs to be first verified and cannot be given with investment -Existing non KYC verified accounts will be freezed. Redemption, Purchase and switch not allowed, unless KYC verified- Check if your Mutual Fund KYC verified status at CDSL Ventures Ltd. CVLhttps:\/\/www.cvlkra.com\n<\/a><\/td>\n<\/tr>\n
Portfolio Management Services \/ PMS<\/td>\nPMS Upfront commission charges<\/td>\nUpfront fees charged to the investors<\/td>\nNo Upfront fees and Direct option introduced<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n