Important Updates

SEBI Clarification w.r.t. Data feeds in respect of Direct Plan transactions by the Mutual Fund Distributors, Registered Investment Advisers, Portfolio Managers and Stock Brokers

Disclosure of all possible payment options along with their efficiency

Pursuant to SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2020/175 dated September 17, 2020 read with circular no. SEBI/HO/IMD/DF2/CIR/P/2020/253 dated December 31, 2020, effective from February 1, 2021, the applicable NAV in respect of purchase of units of mutual fund scheme shall be subject to realization & availability of the funds in the bank account of mutual fund before the applicable cut off timings, irrespective of the amount of investment, under all mutual fund schemes. 
In this regard, the efficacy of various payment modes and the indicative cut-off time to get the same day’s NAV are given in Annexure 1 ( For Lump Sum Transactions - Non Liquid Schemes ) and Annexure 2 (For SIP Transactions) . Investors and intermediaries may please  note of the same and choose appropriate / efficient mode of payment
a. Annexure – A1: All the payment modes available for investors to make lump sum investment and their efficiency
b. Annexure – A2: All the payment modes available for investors for SIP investments

AMFI restarts Online registration for ARN and EUIN

Revised ARN / EUIN Registration & Renewal Fees effective May 1, 2021

FAQ on Income Distributed under Dividend Option of Mutual Fund Schemes

Please click here for more info.

Further Extension of validity of NISM certificates till January 01, 2022

NISM has announced on its website that the validity of NISM certificates of those who could not appear or attend or enroll for certification examinations or CPE/ eCPE  programmes and as such, could not renew/ are not in a position to renew their certificates, during the period March 15, 2020 to December 31, 2021 (or any time period based on future developments/ the Government directions), shall be extended till January 01, 2022. 


Accordingly, the validity  of ARNs of individual ARN holders & EUINs of individual MFDs / employees & sales personnel of MFDs, which are expiring during the period March 15, 2020 to December 31, 2021, will also stand automatically extended till January 01, 2022, since the validity of ARN/ EUINs of INDIVIDUIALS is co-terminus with NISM Certification.    

New rule on applicable NAV effective from 1-FEB-2021


Normal cut-off timings shall be applicable for all mutual fund transactions from Monday, November 09, 2020

  • Mutual Fund investors and intermediaries may please note that, as advised by SEBI, normal cut-off timings shall be restored effective from Monday, November 9, 2020 for applicability of Net Asset Value (NAV) for both subscription and redemption transactions across for all mutual fund schemes, as mentioned in table below -

Type of Schemes

Transaction type

Cut-off timings

Liquid Funds & Overnight Funds

Subscription (including Switch-in from other schemes)

1:30 p.m.

Redemption (including Switch-out to other schemes)

3:00 p.m.

All other schemes

(other than Liquid Funds / Overnight Funds)

Subscription (including Switch-in from other schemes)

3:00 p.m.

Redemption (including Switch-out to other schemes)

3:00 p.m.

All other provisions w.r.t. applicability of NAV in respect ofsubscriptions and redemptions shall be in accordance with SEBI Mutual FundsRegulations read with the applicable SEBI circulars.

Issued in Public Interest

  • (Pursuant to Regulation 3(3) of the SEBI (Investment Advisers) Regulations, 2013)

  • As per Regulation 3(3) of the SEBI (Investment Advisers) Regulations, 2013 notified on July 3, 2020 –

    No person, while dealing in distribution of securities, shall use the nomenclature “Independent Financial Adviser or IFA or Wealth Adviser or any other similar name” unless registered with SEBI as an Investment Adviser.

     Pursuant to the above regulatory amendment, mutual fund distributors (MFDs) whose registered name has the terms such as Adviser / Advisor / Financial Adviser/ Investment Adviser/ Wealth Adviser/Wealth Manager/Wealth Managers etc. are required get their registered name changed.

    Please click here for more info.

  • The timeline for making an application to RoC for change in name has been extended from October 15,2020 to October 31, 2020.
    The extended timelines are also applicable to MFDs formed as proprietary/partnership firms etc.
    Please click here for more info.

NOTICE - For the attention and action of non-individual mutual fund distributors

  • Please click here  for Gazette Notification SEBI (INVESTMENT ADVISERS) (AMENDMENT) REGULATIONS, 2020.


  • Please click here for the guidelines and forms related to investment on behalf of minors, change of guardian and change in status on minor attaining majority.


  • MutualFund Investors may please note that  witheffect from July 1, 2020, mutual fund units issued against Purchase transactions (whetherthrough  lump-sum investments or  SIP or STP or switch-ins or dividend reinvestment)would be subject to levy of stamp duty* @ 0.005% of the amount invested. Transferof mutual fund units (such as transfers between demat accounts) are subject to payment of stampduty* @ 0.015%.

    * pursuantto Notification No. S.O. 4419(E) datedDecember 10, 2019 issued by Department of Revenue, Ministry of Finance,Government of India, read with Part I of Chapter IV of Notification datedFebruary 21, 2019 issued by Legislative Department, Ministry of Law and Justice,Government of India on the Finance Act, 2019, and subsequent Notification dated March 30, 2020 issued by Department ofRevenue, Ministry of Finance, Government of India.

Updated guidelines for Transmission of Units  under various scenarios along with  the standard formats of Transmission Request Forms and supporting documents

  • SEBI had, vide circular no. SEBI/HO/IMD/DF3/CIR/P/2019/166 dated December 24, 2019 directed the AMCs to  adopt a standard Transmission Request Form and common set of documents for transmission of units as prescribed by  AMFI and to make the same available on the websites of AMCs, RTAs and AMFI.

  • Pursuant to the above,  AMFI, in consultation with AMFIs Standing Committee on Operations/Compliance and Risk, has reviewed and updated the existing AMFI guidelines for Transmission of Units  including the supporting documents and has introduced the Transmission Request Forms to be used under different situations.

  • To check the  updated guidelines for Transmission of Units  under various scenarios along with  the standard formats of Transmission Request Forms and supporting documents please click here 

Further Extension of Revised Cut-Off Timings

SEBI has decided to extend the reduced cut-off timing for both subscription and redemption in mutual fund schemes till further notice, in light of RBI Press Release dated April 30, 2020 on extension of time line for amended trading hours of various RBI regulated markets.

The reduced cut-off timings for mutual fund transactions are as follows:

In case of subscription

- For Liquid and Overnight Funds – 12:30 p.m.

- For other than Liquid and Overnight Funds – 01:00 p.m.

In case of Redemption

- For Liquid and Overnight Funds – 01:00 p.m.

- For other than Liquid and Overnight Funds – 01:00 p.m

All other provisions of various SEBI Mutual Funds Regulations w.r.t. applicability of NAV in respect of subscriptions and redemptions shall remain unchanged.

Annual Declaration of Self Certification (DSC) by MF Distributors for the financial year ending 31st March 2020

As per AMFI guidelines, mutual fund distributors are required to submit a Declaration of Self Certification (DSC) annually, within 3 months after the end each financial year. Accordingly, the annual DSC for the financial year ended March 31, 2020 needs to be submitted to CAMS by June 30, 2020.
AMFI has enabled an online facility to upload the annual DSC for FY 2019-20 for the convenience of mutual fund distributors.
To upload the annual DSC on AMFI website, please follow the steps mentioned below
1. Download the DSC form
2. Take a print-out of the DSC, sign the same in blue ink and get a scanned image of the duly signed DSC, preferably as a PDF file.
3. Log on to the online module with your existing log-in & password* and click on ‘Update Profile’ button and choose the ‘Self-Declaration” icon
4. Proceed to the upload of the scanned image / PDF of the DSC.


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