MF Central: Investors invest in many mutual fund schemes to get better returns. Now the good news for such investors is that they will get all the services related to mutual funds on a single platform. Mutual Fund Registrar and Transfer Agent (RTAs) KFin Technologies and Computer Age Management Services (CAMS) launched MFCentral, a special digital solution for investors in September 2021 last month. On this platform, investors will get all the services from mutual fund investment to redemption at one place. Markets regulator SEBI in July had asked RTAs to develop a common platform for mutual funds. MF Central has been launched under the direction of SEBI. Although it will be live in three phases. Right now only one phase of it has gone live on 23 September.
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Understand like this what will be the convenience
- Suppose you have invested in five mutual fund schemes and now you want to change the bank account details for buying and selling under all these schemes, then you have to submit different necessary documents and canceled cheque with each fund house. have to do. Through MFcentral, you will be able to do this work at one place.
- If you want to change your mobile number or e-mail ID, then you have to make separate request for it but through MF Central this work will be done in one go.
These facilities to investors in the first phase
Non-financial services have gone live in the first phase of MFcentral. Under this, investors will get these facilities now.
- You will be able to see your financial portfolio i.e. how much you have invested in which mutual fund scheme and how much the invested capital has increased, you will be able to see the details of all these in one place.
- Will be able to update e-mail id, mobile number and address.
- Nominee details can be added.
- The service request which is still pending or any complaint, you will be able to see the complete details of them all at one place.
- You will be able to update bank related details.
- You will be able to update the category from minor to adult.
- You will be able to see the details of unclaimed dividend and redemption.
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These services will be live in the second and third phase
In the second phase of MFcentral, the mobile app of MF Central will be launched. Now to get the services related to it, one has to go to the web page. In the third phase, investors will get the facility to buy and sell units of mutual funds. This platform will be fully operational by the end of this year i.e. 31st December 2021. There is no need to complete the KYC process to register on the MFcentral website but you can just log in using your PAN and mobile number.
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