News From Press You won't be able to redeem mutual fund units online without this now

You won't be able to redeem mutual fund units online without this now

Source: Economic Times Jun 4, 2022

If you are a mutual fund investor who uses online platforms to make financial transactions such as redemptions, invest via Systematic Transfer Plan (STP), make switch requests etc., then from June 1, you will be able to do such transactions only if they are validated via two-factor authentication (2FA). This means that a one-time password (OTP) will be sent to the investor's registered mobile number/email ID and an investor will be required to enter that OTP online before the transaction is processed.

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