Dear Friends,
I have a doubt in the following case:
When a sip is started as a Micro sip, or pre compulsory pan era now when the client has obtained a pan and submitted a pan to the AMC, why are they canceling the SIP for want of KYC, if any one at least in the AMC side could justify the same I would be happy and update myself.
Regards,
Alagappan
ARN- 3912
9841055577
I have a doubt in the following case:
When a sip is started as a Micro sip, or pre compulsory pan era now when the client has obtained a pan and submitted a pan to the AMC, why are they canceling the SIP for want of KYC, if any one at least in the AMC side could justify the same I would be happy and update myself.
Regards,
Alagappan
ARN- 3912
9841055577
2 comments:
Sir, Pre pan era there was no micro sips and hence the issue was purely an investment where a pan has to be provided. with this case now it will be mandatory to provide the pan and kyc to continue the investment, however there will be no bar for withdrawal. one can withdraw(redeem) without these compliances.
Amalaraj Marian
Dear Alagappan,
It is clearly mistake of our regulators. If you have PAN you can't invest Rs 5000/- only one time purchase or 500/- micro SIP without KYC. But without PAN you can invest 4000/- pm micro SIP in every AMC. It means one can invest around 20 Lakhs per year across all AMCs as small investor without KYC.
Regards,
Surender Singh
ARN-66056
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