Mutual funds will close their collection centres and branch offices (“official points of acceptance”) from Monday i.e. March 23, 2020. In a release, AMFI said that fund houses will allow only online transactions through various electronic modes such as mutual fund websites, web-portals, various digital platforms, apps and virtual channels.
Fund houses will allow only online transactions till the situation comes under control and until social distancing advisory is withdrawn by the authorities.
“All mutual fund investors and distributors are requested to bear with the mutual funds and to use the digital / electronic modes for their mutual fund transactions,” AMFI said in a note.
The announcement comes in the wake of the Covid-19 pandemic threat.
AMFI said, “Considering the current situation, it is imperative for all offices to ensure that not only their employees, but also their customers and visitors follow the social-distancing measures and are dissuaded from travelling and visiting the offices by providing alternative solutions.”
