News From Press Look out for contact number validation for MF investments

Look out for contact number validation for MF investments

Source: Mint Jul 14, 2022

The Association of Mutual Funds in India (Amfi), in March 2022, released the best practices guidelines with respect to the validation of the email id and mobile number of mutual fund (MF) unitholders. The body recommended that RTAs (Registrar and Transfer agents), which facilitates record maintenance for MF companies, carry out the basic validation check (10-digit phone number, email id with proper domain) to ensure the correct contact details of unitholders.

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