‘MF transaction tagging for B30 incentives depends on PIN and not city’

One of our readers wrote to us with this query.

Dear Team Cafemutual,

I would like to understand status of tagging of MF investment of a client who stays in T30 city but his postal code is not present in the list of t­­op 30 pincodes issued by the AMFI.

For instance, if a customer stays in Allahabad but his pincode of 212505 is not present in the list of AMFI list, what would happen to such a transaction in terms of tagging?

Abhijeet Sengupta

Dear Abhijeet,

While AMFI has identified Allahabad and Varanasi as the top 30 cities this year, tagging on MF transactions happen at a pincode level.

In fact, a few satellite cities like several parts of Thane and Kalyan in Mumbai, Palwal in Delhi and Maraimalai Nagar in Chennai are B30 cities.

In the above example, Barai Harakh (212505) is a satellite location near Allahabad. Since this pincode is not present in the list of B30 cities, it will be tagged as B30 city for transaction purposes.

You can check if your city falls under B30 or T30 by clicking here. Simply press CTRL+F from Microsoft or Command+F from Macbook and key in the location pin code to see the applicability of B30 payout.

Remember that MFDs can get B30 incentives if the investment amount is up to Rs.2 lakh. In addition, the pin codes given in MF folios should match with those in the KYC form.