Invest Directly In Child’s Mutual Fund, BTTV Decodes Fine Print & The Benefits

SEBI has made investing for your children in mutual funds a lot simpler. You will no longer have to open a bank account for your child first. A recent circular by the capital markets regulator allows parents to directly invest in a mutual fund of a minor. The new rule will be effective 15th of June. A bank account will only be needed when a fund matures. This maturity amount can only be transferred to the account of the minor. Listen in to a detailed report by Money Today Editor Teena Jain.