Case 1: If the invested value of micro sip is Rs 48000 & current value is 60000 can we switch it to other scheme with micro kyc?
Case 2: If the invested value is Rs 55000 & current value is Rs 48000 can we switch it to other scheme with micro kyc?
Case 3: If the invested value is Rs 55000 & current value is Rs 68000 can we switch it (all units or Rs. 45000) to other scheme with micro kyc?
Thanks for writing to us.
Case 1:In this case you can switch Rs 2000 to another scheme without having to quote PAN. The switch from one scheme to another is considered as fresh investment in the target scheme. Hence, if the invested value exceeds Rs 50,000 you will be required to quote PAN.
Case 2: This investment will not fall under micro kyc rules since the invested amount exceeds Rs 50,000.
Case 3: Like we mentioned earlier, this investment (Rs 55000) will also not fall under the micro kyc rule.