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Aditya Birla Sun Life Mutual Fund

Cash Transaction

Cash Transaction

OVERVIEW

Procedures for making subscription through cash

Background

In accordance with SEBI Circular No-CIR/IMD/DF/21/2012 dated September 13, 2012 to help enhance the reach of mutual fund products, regulator has allowed cash transactions in mutual funds to the extent of Rs 50,000/- per investor, per mutual fund, per financial year (revised as per SEBI Circular dated 22nd May 2014).

Eligibility

This facility is available for non-corporate investor's viz. Resident individuals, sole proprietors, HUF, minors (through guardians) who are:

  • KRA-KYC compliant

  • Have a bank account

  • And whose address as per KRA-KYC records fall in the Beyond Top 15 locations.

Note: Top 15 locations as defined by Association of Mutual Funds in India (AMFI) include: Mumbai (includes Thane and Navi Mumbai), New Delhi (includes NCR Region), Bangalore, Kolkata ,Chennai, Pune, Ahmedabad, Hyderabad, Baroda, Panjim, Jaipur, Lucknow, Surat, Kanpur and Chandigarh.

Cash acceptance towards subscription shall not be accepted from investors residing at any of the above mentioned Top 15 locations.

NAV Applicability

All schemes of Aditya Birla Sun Life Mutual fund shall be available for investment under this facility. NAV shall be applicable based on the time-stamping of the physical application at the designated ISC centre or electronic recording of transaction submission time as prescribed by ABSLAMC.

In case of subscriptions received through cash into Liquid schemes, the applicable NAV would be allotted based on the sighting of credit into the Bank Account of the respective scheme corresponding to the cash paid for the transaction.

Refund Scenarios

a) Cash Limit exhausted
As per regulation an investor can subscribe to the extent of Rs 50,000/- per investor, per mutual fund, per financial year. This is tracked based on the First Applicants PAN or PEKRN issued by the KRA-KYC entity.

Post acceptance of cash, if the cash limit is found to have been exhausted for the First Applicant for the financial year, the amount shall be refunded back into the investors' bank account as available on records with Aditya Birla Sun Life Mutual Fund.

b) Subject to application being complete in all aspects
Processing and NAV applicability of all transactions accepted at the Official Point of Acceptance of Aditya Birla Sun Life AMC / Aditya Birla Sun Life Mutual Fund are subject to verification at the time of final processing. Rejections, if any, would result in the amount being refunded into the investors' bank account as available on records.

Mode of Acceptance

There are two modes enabled for accepting cash through designated cash collecting centre.

  • Through Registrar & Transfer Agent (RTA) Branches (w.e.f. from 7th July 2013) enabled for new and existing investors
  • Through partner bank Business Correspondent outlets (wef from 1st January 2014) enabled for existing investors
RTA

Aditya Birla Sun Life Mutual Fund vide addendum No: 17/2013 dated June 10, 2013 has activated acceptance of 'Cash' towards subscription in mutual fund schemes through Investor Services Centre's (ISC) of Computer Age Management Services Pvt. Ltd (Registrar & Transfer Agents to Aditya Birla Sun Life Mutual Fund at the following centre's w.e.f June 10, 2013.

State Address of Investor Services Centre's of Computer Age Management Services Pvt. Ltd
Andhra Pradesh 9/756, First Floor, Immadisetty Towers, Ranganayakulapet Road, Santhapet, Nellore - 524 001
Bihar Krishna, 1st Floor, Near Mahadev Cinema, Dr. R. P. Road, Bhagalpur - 812 002
Gujarat Tirupati Plaza, 3rd Floor, T-11, Opp. Government Quarter, College Road, Palanpur - 385001
Maharashtra 117 / A / 3 / 22, Shukrawar Peth, Sargam Apartment, Satara - 415 002
Punjab 2907 GH, GT Road, Near Zila Parishad, Bhatinda - 151 001
Rajasthan B-33 'Kalyan Bhawan', Triangle Part, Vallabh Nagar, Kota - 324 007
Tamil Nadu 156A / 1, First Floor, Lakshmi Vilas Building, Opp to District Registrar Office, Trichy Road, Namakkal - 637 001
Uttar Pradesh F-62/63, 2nd Floor, Butler Plaza Commercial Complex, Civil Lines, 
Bareilly-243 001
West Bengal 2nd Floor, New Market Complex, Durgachak Post Office, Purba Medinipur District, Haldia - 721 602

How does it work?

  • Step I:

    Investor (new or existing) to visit one of the designated ISC centers along with the completed subscription application form and requisite amount of cash intended to be invested.

  • Step II

    Necessary provisions have been made on the application form / transaction slip for investor to highlight the mode of subscription as 'Cash'. Once the completeness of the application form is ascertained the intended amount of Cash is to be deposited at the collection centre.

  • Step III

    A system generated acknowledgement slip along with the scheme details shall be provided as a confirmation of deposit and acceptance of application to establish completion of submission.

Note: As prescribed by regulation an investor can subscribe to the extent of Rs 50,000/- per financial year.

Business Correspondent

Aditya Birla Sun Life Mutual Fund vide addendum No: 39/2013 dated December 31, 2013 has enabled for acceptance of 'Cash' towards subscription in mutual fund schemes through the business correspondent (BC) model of Yes Bank Ltd

Aditya Birla Sun Life Asset Management Company Limited has partnered with YES BANK to enable subscription transactions in eligible mutual fund schemes of Aditya Birla Sun Life Mutual Fund throuhg their Yes Bank Money outlets across the country (situated at beyond top 15 cities*).

Thus, Cash acceptance will be enabled at the Yes Bank Money outlets present at Beyond Top-15 locations (please refer to note for Top 15 locations). Please click here to locate an outlet nearest to you.

Please note that only subscription transactions may be processed through such designated cash collection centers by Existing Investors [viz., Resident individuals, sole proprietors, HUF, minors (through guardians)] of Aditya Birla Sun Life Mutual Fund.

How does it work?

  • Step I:

    Existing Investor walks into nearest Yes Bank Money outlet and shares the following information registered with Aditya Birla Sun Life Mutual Fund

    • Existing folio number

    • Registered first holder PAN

    • Registered mobile number

  • Step II

    Post successful validation of details, investor informs the Yes Bank Money agent details about the scheme & amount to be invested. In case the investment is through a Financial Advisors, investor needs to communicate the ARN & EUIN of advisor.

  • Step III

    On initiating the transaction, a one-time password (OTP) is received on investor's registered mobile number which needs to be shared with the Yes Bank Money agent.

  • Step IV

    On completion of the transaction, investor hands over the cash against receipt of an SMS acknowledgement sent by Yes Bank.

  • Step V

    BSLMF send electronic transaction processing status confirmation / alerts to the investor via SMS and / or email after successful processing of the transaction.

Points to be Noted:
There is no transaction charges payable for availing the service at the Yes Bank Money Outlet. In case of any complaints, investor may contact the grievance redressal numbers displayed at every Yes Bank Money Outlet.

Please ensure receipt and storage of the SMS acknowledgement sent to your registered mobile number (signifying a valid and successfully completed subscription) until the transaction processing status confirmation / alerts from BSLMF is received. In case of non-receipt, please call Toll Free: 1-800-270-7000 or 1-800-22-7000 ((MTNL/BSNL).

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