Under Micro Investment Facility an investor who do not have a PAN No. can invest in any Mutual funds Schemes of Reliance Mutual Fund upto Rs. 50000 in a financial year. This limit is the total amount can be deposited in a year under this method and includes lump sum and Sip investment. But there is no limit for the redemption of mutual fund.
The Micro Investment Facility is available for individuals, NRIs, minors through Guardian, Sole Proprietorship firms and joint holders who do not have a PAN. For joint holders the first holder should not have a PAN.
Documents Required for Micro Investment Facility
The following documents are required for availing Micro Investment Facility.
1) Common Application Form
2) PAN Exempt KYC Reference No (PEKRN) acknowledgement issued by KRA.
These documents should be submitted to any designated service center of Reliance Mutual Fund. The investors can invest only Rs. 50000 in mutual funds in any particular financial year, either in the form of (Systematic Investment Plan) SIP or Lump Sum or both. This will help to spread the span of mutual funds to rural areas also.
Those who are interested to deposit under Micro Investment Facility, please contact the Reliance Mutual Fund on 1800- 300-11111 or email to customer_care@reliancemutual.