To accumulate money for higher education or marriage, parents usually set aside funds in the children’s name so that the investments remain untouched and can be used when needed.
Investments in mutual funds can be made in the name of minors, subject to certain conditions.
Conditions
No joint holder is allowed in a minor’s mutual fund folio. The minor is the first and sole holder in the folio. The minor has to be represented by a natural g ..
