Sebi asks registrars to evolve common platform for mutual funds

Mumbai Markets regulator Sebi, in a circular on Monday, has asked Registrar and Transfer Agents (RTAs) to develop a common platform for the transaction of mutual fund units.

Currently, investors face delays and have to deal with excess paperwork for non-commercial transactions. If an investor has five folios across AMCs and wants to change a bank account, separate request letters have to be given.

“The regulator wants to create ease of transaction for investors through a single platform. Through this new platform, investors will be able to access all services across mutual funds at one place in an integrated manner,” said the product head at a domestic mutual fund.