All stakeholders in mutual funds are said to be busy implementing the Securities & Exchange Board of India (SEBI) mandate to stop using pool accounts for investments in units of mutual funds. While the regulator has extended the deadline for the same to July 1, 2022, mutual fund distributors say they will have to make additional efforts to cater to their clients.
Delay in making investments
As things stand, brokers and distributors are at various stages of implementation. The industry promoted platform MF Utility has stopped accepting cheques, RTGS and NEFT, but does process purchase requests through net banking, Unified payments interface (UPI) and NACH mandates.
