Investors who submitted an e-mandate for opening SIPs between 26 September and 26 November 2018 need to revisit the process and give a physical mandate by 15 February for the SIPs to remain in force. If the revised mandate is not received and mapped to the SIP by 15 February, the next instalment will not go through and the SIP may stand terminated.
What this means for a mutual fund investor is that the original mandate based on Aadhaar will become void and the debit instruction that was provided to the bank will no longer be honoured.
