As per SEBI, they will provide a online system starting March 2010 where investor can buy and sell mutual fund without any intermediaries. For sure, this will make investment process transparent and convenient.
NSE (National stock exchange) along with NSDL(National Securities Depository) will create a platform for the same where mutual fund units will be traded. It will be an investor friendly self service application. This will also reduce the overall cost incurred in MF transaction (paper work, submission etc.)
It will be of great benefit for people like me who do not want to transact through agents and distributors. Earlier, agents had comission so they used to service small investors but now they also don’t seem to be interested in providing services. I am currently also doing most of the mutual funds transactions online but on respective AMC website (Read here for more details). So I have to apply for and maintain different HPIN for all AMC sites and is painful.
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Wow Pankaj…this is really great news…keep posting….
Thats a great news..Even I was looking for such things to happend.