From now on PAN is mandatory for all mutual fund transactions including redemption.

In its latest communication, AMFI has clarified that PAN is mandatory for mutual funds redemption. With this, PAN exempt folio holders will have to update their KYC details with PAN to redeem their investments from mutual funds.

In 2012, SEBI allowed investors to invest up to Rs 50,000 annually in a single mutual fund per year without a permanent account number (PAN).

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