How to sell funds without submitting a physical POA?
A physical copy of the POA (Power of Attorney) form is mandatory when you open a demat account. This POA (only in physical format) will enable you to sell your mutual funds.
But, what if there is a much more simpler and time saving way?
Yes! you can avoid all the hassle of sending couriers, tracking, and delivery. The life-saving alternative being e-DIS (electronic Delivery Instruction Slip) that makes the process of a physical POA uber smooth.
When you try to place a SELL via the MF web app, our intuitive interface will direct you with a web page. This web page will ask permission to sell funds online with the use of e-DIS.
Then after you will be redirected to the CDSL web page to complete the authorization using TPIN (sent on mobile and email by CDSL). Once you authorize the transfer by entering the TPIN, you will now be enabled to sell your funds.
Note: For selling funds the CDSL has permitted a daily limit of Rs. 4.5 lakh.