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MF News NSE NMF II waives off registration fee for distributors

NSE NMF II waives off registration fee for distributors

The transaction platform has waived off this fee for three months i.e. until September 10, 2018.
Nishant Patnaik Jun 12, 2018

In order to attract distributors to its platform, NSE has waived off registration fees.

NSE NMF II has done away with the requirement of keeping a refundable deposit of Rs.15,000 for distributors and Rs.25,000 for corporates with the platform and waived off the registration fee of Rs.2000 excluding taxes for distributors for three months i.e. June 11 to September 10.

Post this, the platform will charge registration fee of Rs.2000 excluding taxes. Also, there will be no refundable fees.

A circular issued by NSE circular in this regard says, “In our endeavour to facilitate MFDs to operate with an optimised cost structure. Exchange is pleased to announce waiver of refundable deposits remitted by MFDs with immediate effect. However, a one-time non-refundable membership registration fee of Rs.2000 (plus applicable taxes) will be applicable to avail membership of NMF II platform with effect from September 11, 2018. Further, in order to encourage MFDs to use digital platforms for mutual fund transactions, the aforementioned membership registration fee of Rs.2000 (plus applicable taxes) is waived off in the interim period from June 11, 2018 to September 10, 2018.”

Earlier, BSE Star MF conducted events to carry out spot registration of distributors at various locations. Recently, the company had organised such an event at Bengaluru and Mysuru. Over 200 distributors had registered with BSE Star MF by paying Rs.300 for admin charges.

This has come after both the platforms have started to levy transaction charges on AMCs. Both the platforms levy transaction fee on AMCs, which ranges between Rs.6 and Rs.30 per transaction, depending on the volume.

 

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9 Comments
Jigish · 4 months ago
Will already registered distributor get refunds of there deposit.
Aparna · 4 months ago
Already registered distributors should also get there deposits refunded.
Swaraj Wealth · 4 months ago
We have deposited 25000 as corporate distributor 3 years back. NSE should now refund this money to us otherwise we will have to call for other facilitator.
Anil sah · 4 months ago
I hve paid 15000 4 yrs back .return money with interest now .Pl show courtesy.at least start communication with me.
BRIG LAJPAT KUMAR AHUJA · 4 months ago
I feel NSE must refund the extra amount charged from those distributors who paid the registeration fee of Rs 15000.00. They should deduct the current registeratio amount and refund the balance.
Pratap Chandra Patra · 4 months ago
How to register with NSE NFM II. Please suggest.
ASHOK N · 4 months ago
How to Register with NSE NFM II, Please give the procedure to attend
haresh R Kansara · 3 months ago
GOOD
SUNIL K ANAND · 2 months ago
PLEASE SEND ME LINK FOR REGISTRATION
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