Extended: SEBI discontinuation of pool account for Mutual Funds
As per SEBI’s latest circular, the deadline for discontinuing common fund wallet (pool account) for Stocks and Mutual Funds transactions has been extended from 1st April 2022 to 1st July 2022.
What does this mean?
Currently, you can invest in a Mutual Fund via funds from your Upstox account. And on redemption/sale of units the funds would be credited to your Upstox account from where you could place a withdrawal request. However, from 1st July 2022 funds for buying/selling Mutual Fund units will be deducted/credited directly from/into your registered bank account.
You can also refer to the SEBI circular.
Due to the above extension, the scheduled maintenance activity from 31st March to 1st April 2022 has now been stopped. And you can continue to place Mutual Funds orders from our platform like before.
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