SEBI seeks feedback on gift cards and e-wallet mutual funds
Business
SEBI is thinking about letting people use prepaid gift cards and digital wallets to invest in mutual funds, making it way easier for anyone, even if you're new to investing or just want to try it out.
They're asking for public feedback on this idea until April 14, so if you have thoughts, now's your chance.
Investments capped at ₹50,000 yearly
You could invest up to ₹50,000 per financial year using these cards or wallets, but only with money from verified Indian bank accounts.
No promo deals allowed, and if a gift card isn't used within a year, the money goes back to the sender.
According to experts like Kapil Garg from LKP Finance, this could really open doors for first-time investors and even let companies use mutual funds as cool rewards in their recognition programs.