In 2019, AMFI issued best practices circular to issue uniform guidelines on tagging of T30/B30 transactions.
The existing norms say that transaction with missing or invalid PIN are considered as T30 transaction from April 1, 2019.
In addition, MFDs have to ensure that the PIN codes given in MF folios match PIN codes in KYC form to get B30 incentives.
Currently, tagging of B30 transactions is based strictly on investor PIN code to ensure accuracy and uniformity in identifying the B30 transactions across fund houses.
Here are a few points that have to be remembered to get B30 incentives
- PIN codes mentioned in KYC form will be considered for tagging of B30/T30 transactions. Simply put, PIN codes captured in MF application form has no role to play in tagging
- R&T agents have to use the city-wise PIN code file for top 200 cities provided by AMFI to tag all transactions and for generating the report on AUM by geography
- All NRI transactions are considered as T30 transactions
- Folios where country name is other than India are T30
- If PIN code is available and valid as per All India Post but does not appear in the list of AMFI’s list of T30 PIN Code then
- RTAs will see if the city name is available in the KYC city field. And if the name of city matches with T30 city list, it is considered as T30 for tagging; else it is B30
- And if city name is not available, R&T agents can tag it as B30 transaction
- If PIN code and city name is invalid or not available, it is T30 transaction. However, if city name is available and falls under B30 cities, it can be considered as B30
- Re-tagging requests can be made within T-15 days only in case of fresh purchase and CKYC download indicates a change requirement
- AMFI reviews the list of cities every year
- Any AMC/RTA can request AMFI to include name of city or PIN Code in T30/B30 list
