MIN-The saga continues
After all the hype and hoopla surrounding the issuance of the Mutual Fund Identification number (MIN) and some alternatives suggested by the Finance Ministry, it is now quite likely that all mutual fund investors holding a valid PAN card would be exempted from the need to apply for the MIN.
This would, however, not apply to those investors who do not have a PAN but desire to invest in excess of Rs.50,000 in any mutual fund scheme.
I feel this makes a lot of sense, and all the regulatory bodies should come together and share the information that they hold in various databases. This will ease their worries, as well as give a breather to genuine investors, who are already a hassled lot over having to furnish the same set of documents time and again.
Facebook comments: