The capital markets regulator is considering allowing the purchase of mutual funds using digital wallets, or e-wallets, in an effort to expand access to such investment products, two persons with direct knowledge of the matter said.
The Securities and Exchange Board of India (Sebi) is in talks with the Reserve Bank of India (RBI) to frame regulations allowing such transactions, one of the two persons said. Both spoke on condition of anonymity.
RBI norms allow customers to conduct online transactions of up to Rs.10,000 through e-wallets without going through any know-your-customer (KYC) process.
For transactions of more than Rs.10,000 and up to Rs.1 lakh, a KYC process is mandatory for e-wallet users
