Mutual funds or other certificates
This query is : Resolved
Juhi Agrawal
(Querist)
25 June 2012
Hi Everyone,
My friend called me and asked can he invest in mutual funds on behalf of his sister so that in coming Raksha bandhan festival he can give those mutual funds to his sister as a gift.
My query is will he be needing KYC requirements?
if yes, than any other investment certificate where such KYC requirement isnt madatory
Please suggest somthing
Thanks in advance
Regards
juhi agrawal
My friend called me and asked can he invest in mutual funds on behalf of his sister so that in coming Raksha bandhan festival he can give those mutual funds to his sister as a gift.
My query is will he be needing KYC requirements?
if yes, than any other investment certificate where such KYC requirement isnt madatory
Please suggest somthing
Thanks in advance
Regards
juhi agrawal
27 June 2012
KYC is made mandatory for investment in Mutual funds. If he want to gift MF to his sister, she should be KYC compliant.
He can invest in LIC, NSC and can gift them, as they don't need KYC compliance.
He can buy gold or silver and can give as gift.
He can invest in LIC, NSC and can gift them, as they don't need KYC compliance.
He can buy gold or silver and can give as gift.
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