Those who invest in MFs can now easily make payments through net banking and UPI. Along with this, you can invest in your mutual funds using PayEezz platform.
If you invest in mutual funds, then this news is of your use. Significantly, mutual fund transaction aggregation portal MF Utilities has made a major change in the mode of payment in mutual funds. Now no investor will be able to invest in mutual funds through cheque after March 31.
Along with cheque, payment of all types of physical methods will now be banned. Mutual fund investments will not be able to deposit money by any physical mode including cheques, transfer letters, pay orders, demand drafts etc. If you pay money in mutual funds using MF utilities, then this rule will be applicable to you.
This is the reason behind the change of rules,
Let us tell you that while briefing the media on this matter, MF Utilities CEO Ganesh Ram said that this change in rules has been done due to the rules made by SEBI. According to the CEO of MF Utilities, those who make payments in mutual funds using MF utilities will no longer be able to make mutual fund payments through RTGS/IMPS/NEFT and check payments. Roar on all these mediums will be effective from 1st April 2022.
According to CEO Ganesh Ram, all these rules have been changed to improve the system. Now the question must be coming in your mind that through which mode you can make payment now. So let us tell you which customers will not be affected by this change.
Make Payments Through Net Banking and UPI
Those people who like to invest in mutual funds can now easily make payments through net banking and UPI. Along with this, you can invest in your mutual funds using PayEezz platform. To use PayEezz platform, first login to it and then use it.
If you prefer to invest a small amount, then you can also use UPI for this. Let us tell you that in the last few years, the number of people investing in mutual funds has increased very rapidly. Mutual funds give maximum returns to the people with less risk.
