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 pop-up. This pop-up will ask permission to sell funds online with the use of e-DIS. Click on it to start the process!
An OTP (One-time Password) prompt will be displayed and an OTP will be sent on your registered phone number & email ID. Once you authorize the transfer by entering the sent OTP, 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.