SEBI allows parents/legal guardian to invest in minor MF folio from their bank account

 #minoraccouunt

#minor

#mutualfund

With effect 15th June 2023, in case of investments in minor’s name, in addition to payment from minor’s bank,  a/c  payment from guardian’s bank a/c will also be accepted.

However, the redemption payout proceeds will be mandatorily paid out to the minor’s a/c only.

As such, there is no change in the minor’s FB a/c registration process.

The only change will be : while making payment, alongwith the minor’s bank a/c the guardian’s bank a/c will also be available.