With relaxation in lockdown norms, RTA agents – CAMS and KFinTech have resumed offices in most locations including large cities like Mumbai, New Delhi, Chennai, Kolkata, Ahmedabad, Bangalore and Hyderabad with safety precautions and minimal staff. In addition, many fund houses have reopened their offices in green and orange zones.
With this, distributors relying on physical transactions have resumed their business. However, RTA agents have been witnessing huge surge in footfall by distributors closer to the cut-off time, which increases the risk for distributors and employees of RTA agents.
Keeping this in mind, CAMS has requested distributors to submit MF application ahead of cut off time to avoid last minute overcrowding and maintain social distancing norms. “We request you to visit the front offices for transaction submission and other service requests ahead of cut-off time to avoid crowding at the counters,” said CAMS.
Currently, the cut off timing for MF transactions is 1 pm for subscription of all mutual fund schemes.
Further CAMS said, “With graded easing of lockdown, we have gradually re-opened our service centres which are operational at 260 locations as on June 22. We have taken ample health and safety measures at these front offices such as mandatory temperature checks, maintaining social distancing by crowd control at entry, mandating masks while entering, just to name a few.”
Similarly, KFintech has reopened 170 branch offices. Click here to see the list of cities where KFinTech is accepting physical MF application.
