If you invest in mutual funds, then from the next month, you will not be able to make payment for investment in it through cheque, bank draft or any other physical medium. Actually, mutual fund transaction aggregation portal MF Utilities (MFU) is going to stop payment facility through check-DD etc. from March 31, 2022. After this, from April 1, you will also be able to make payments through netbanking, UPI.
Net banking-UPI will be easier: One side check- DD and NEFT etc. will not be able to pay. At the same time, there will be no effect on payment through net banking and UPI. Experts say that through these mediums you can easily make payments. He also says that for small investors investing in mutual funds through MF utilities, UPI is a more convenient option.
Petrol and diesel will be more expensive by Rs 19, the increase is not going to stop soon
No payment through NEFT-RTGS also: Apart from physical modes like cheque-DD, digital options like NEFT, RTGS and IMPS will also not allow payment for investments in mutual funds. MF Utilities says that due to the system update, payment through these old options will not be possible. It is to be noted that the physical options include cheques, drafts, transfer letters, bankers cheques, pay orders, etc., through which people still make payments for investing in mutual funds.
Digital payments have grown rapidly: On the decision to stop paying through physical options in mutual funds and digital options like RTGS-NEFT, experts say that after the corona epidemic, most people have switched to UPI and net banking. In such a situation, the closure of old options is not expected to have much impact on the customers.