AMFI changes help families claim mutual funds after SEBI advice
Business
AMFI has updated its procedures following SEBI's advice to help families claim mutual fund units after a loved one passes away.
AMFI has updated its procedures, and asset management companies are set to follow these changes right away, so the process should be smoother and less stressful.
Valid documents allow claims despite mismatches
Address mismatches won't slow things down anymore; claims can go through with your current address if you have valid documents.
If there's a name mismatch, you can submit ID proof like your Aadhaar or passport.
For a signature mismatch, AMCs may follow a separate framework already prescribed for RTAs.
Plus, AMFI will train everyone involved so these updates work the same everywhere, making it easier for families during tough times.