You can now link your investments in mutual funds to a debit card, which can be used to either withdraw money from an ATM or to make purchases at a point of sales (PoS) counter.
To be fair, this is not a new facility. Reliance Asset Management Co. Ltd has had the option of a debit card linked to its ultra-short term fund, Reliance Money Manager, for over 10 years now. To use this option, investors need to approach the fund house, invest in the fund and apply for the card. And after a few days you would be able to use it.
