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APMI has kept registration fees for individuals and senior citizens at Rs.500 whereas the fee for MFDs with corporate structure is capped at Rs.5000 to obtain APRN number. This fee is excluding GST. On net basis, the registration fee is Rs.590 and Rs.5900 for individuals and corporates, respectively.
For large institutions like banks and listed companies, the registration fee is Rs.1 lakh.
SEBI has made it mandatory for individuals and corporations to obtain the APRN license after clearing the NISM test to distribute PMS products.
Such a license remains valid till the validity of NISM XXI-A certification, which is 3 years currently.
Let us look at the table to know more about registration fees across distribution channels.
|
Category of the Distributor |
Registration Fees (in Rs.)* |
|
Individuals |
500 |
|
Senior Citizen |
500 |
|
Micro Finance Institution |
2,000 |
|
Post Office |
2,000 |
|
Urban Co-op Banks, Trusts, HUFs |
2,500 |
|
Partnership Firm |
2,500 |
|
Limited Liability Partnership (LLP) |
5,000 |
|
One Person Company (OPC) |
5,000 |
|
Private Limited Company |
5,000 |
|
Non-Banking Finance Company |
25,000 |
|
Regional Rural Banks, District Central Co-op Banks |
25,000 |
|
Other Banks |
1,00,000 |
|
Public Limited Company |
1,00,000 |
*There is GST applicable on all the charges.
Apart from the registration fees, the APMI has kept EUIN fee or fees for your employees at Rs.250 plus GST.
For renewal, distributors will have to first appear for CPE or give the NISM examination again. They will also have to pay the renewal fee in line with registration fees to extend the validity of their license.