Investors will be permitted to purchase mutual funds worth up to Rs 50,000 through digital wallets with the market regulator Sebi today approving the proposal.
The proposal, part of efforts to channelise household savings into the capital market as well as promote digital payments in the mutual funds industry, was approved by the Sebi board during its meeting here.
"Investments up to Rs 50,000 per mutual fund per financial year can be made using e-wallets," the regulator said while redemptions of such investments can be made only to the bank account of a unit holder.
