• 57. What are the investor services provided to the customer?

    Indian financial scene provides ample opportunities for investment .If not the best , Mutual Funds provide better options for an ordinary investor to earn a reasonable rate of return. The RBI also reduced the SLR and CRR to their minimal extent .As a result , the bank rate and market rate of interest drastically fell down.Though stock market is booming as never before , it is always subject to unknown fluctuation . All these factors , directly or indirectly ,have led to  the tremendous growth of Indian Mutual Fund Industry .People willing to earn higher rate of return by taking minimal risks are finding Mutual Funds ( MFs) as good avenues to park their savings.This significants growth of MF Industry brought along significants changes too.India's Mutual Fund Industry and stock market witnessed phenomenal growth during the last few years. In additions to this , many investors services are provided to the customer; also , SEBI has given many rights to the Mutual Fund investors. According to a study , Mutual Fund would be one of the major instruments of wealth creation and wealth savings in the years to come , giving positive results.

    Ans; Investor Services:

    Cheque Writing:The RBI rules permit the investor to issue cheques against his Fund balance. The Asset Management Company (AMC) through an arrangements with a Bank allows the unit holders to issue cheques against a savings account with the Bank

    Nomination and Transfer by Unitholders: According to SEBI Notification dated June 11,2002, individual can make nomination only on their behalf either singly or jointly .In the case of Mutual Funds registered with SEBI , the nomination could be made only by individuals applying for/holding units on their own behalf (including joint ownership)

    Account Statement/Unit Certificate: Units held , either in the form of Account Statements or Unit Certificates are non-transferable . The Trustee reserves the right to make the units transferable at  a later date subject to the SEBI Regulations  issued from time to time.