Videos
Conceptual
Transactional/ Operational:
1. What is FATCA?
FATCA refers to Foreign Account Tax Compliance Act which is a United States (US) legislation targeted at tax non-compliance by US persons with offshore accounts including those in India.
2. How is India involved in FATCA compliance?
The Indian Government has signed an Inter-Governmental Agreement (IGA) with the US to implement FATCA in India. In terms of the IGA, financial institutions in India are required to report information about US persons to the Indian Tax Authorities, who will further send it to US Tax authorities (US Internal Revenue Service – IRS).
3. What is CRS?
Just like FATCA, Common Reporting Standard (CRS), has been developed under the purview of the Organization for Economic Co-operation and Development (OECD) to exchange data amongst member nations for tax purposes. India is a signatory to the agreement on implementation of CRS.
4. How have the Indian Tax Authorities implemented these regulations in India?
CBDT has framed rules for FATCA and CRS compliance applicable to Indian financial institutions. Compliance with the rules involves disclosures,maintainance of information, registration of persons and reporting.
5. How does FATCA /CRS affect my investments?
Financial Institutions such as mutual funds including IDBI Mutual Fund are required to seek additional personal, tax and beneficial owner information, self-certifications and documentation from our unitholders.
6. When is information/declaration/self-certification sought under FATCA/CRS?
Information/declaration/self-certification under FATCA/CRS may be sought at the time of opening the account or any time subsequently.
7. Who is covered under FATCA and CRS, only US investors, or NRIs?
No. All investors, Individuals and non-individual, are covered under FATCA and CRS.
8. Who is a U.S. person?
The term "United States person" means:
  1. A citizen or resident of the United States,
  2. A partnership created or organized in the United States or under the law of the United States or of any State, or the District of Columbia,
  3. A corporation created or organized in the United States or under the law of the United States or of any State, or the District of Columbia,
  4. Any estate or trust other than a foreign estate or foreign trust. (See Internal Revenue Code section 7701(a)(31) for the definition of a foreign estate and a foreign trust.), or
  5. Any other person that is not a foreign person.
9. Who is a U.S. Citizen?
The term "United States Citizen" means:
  1. An individual born in the United States,
  2. An individual whose parent is a U.S. citizen,
  3. A former alien who has been naturalized as a U.S. citizen,
  4. An individual born in Puerto Rico,
  5. An individual born in Guam, or
  6. An individual born in the U.S. Virgin Islands.
10. Information sought by IDBI Mutual Fund is reported to which entity?
Information sought under FATCA/CRS by IDBI Mutual Fund will be reported to the Income Tax Authorities in India, who will further transmit the information to the tax authorities of the relevant country.
11. What information is sought from the investor?
Information with respect to Country of tax residence, Tax Identification Number from such country, Country of Birth, Country of Citizenship, is required to be furnished.
12. How frequently is information sought under FATCA/CRS?
Information is sought only once from the investor. However, if there is any mismatch in the information submitted, the investor may be contacted to submit additional documentation/information. If there is a change in the information already provided, the investor is required to update IDBI Mutual Fund.
13. What if an investor does not provide information sought under FATCA/CRS?
If a new investor refuses to provide information sought under FATCA/CRS, then he/she may not be allowed to open a folio.
In case of existing investors, if there is any failure or delay in providing such information, the same may be reported to the tax authorities. If instructed by tax authorities, IDBI Mutual Fund may have to withhold and pay out funds from your account or close or suspend your account.
14. Is there any place where I can find detailed information on FATCA/CRS?
15. How can I complete FATCA/CRS compliance?
Investors can complete their FATCA/CRS compliance by providing requisite information by accessing the following link:
1. What are the fundamental attributes of a scheme?
  1. The fundamental attributes of a scheme are the essential features of the scheme, such as structure, investment pattern, which is unique to the scheme.
2. How are the fundamental attributes of a scheme useful to me?
  1. The return and risk parameters of a scheme depend upon its fundamental attributes. Hence it enables an investor to decide if a scheme is appropriate and to differentiate it from other products.
3. Can a mutual fund change its fundamental attributes?
  1. A mutual fund cannot change any of its fundamental attributes without notifying the existing unit holders and giving them 30-days’ notice in the newspapers with an option to redeem without charging exit load.
4. How will I come to know if there is a change in the management?
  1. If there is a change of sponsor or the investment manager of the mutual fund, then the unit holders are notified at least 30 days in advance.
5. What are the service standards that mutual funds have to follow?
    Transaction Turnaround Time
    Allotment of units in a NFO (other than ELSS and RGESS) 5 days from NFO closing date
    Allotment of units in a ELSS and RGESS NFO 30 days from NFO closing date
    Refund of money 5 business days from NFO closing date (15 days for RGESS)
    Dispatch of Statement of account - NFO or request by unit holder 5 working days from closure of subscription list / request (15 days for RGESS)
    Dispatch of Consolidated Account Statement (CAS) 10 days from end of each calendar month if transaction has taken place during the month.
    Dispatch of dividend warrants 30 days from date of dividend declaration
    Dispatch of redemption proceeds 10 working days from transaction request
1. What is KYC?
  1. In order to ensure that illegal funds are not routed into Indian markets, the government has mandated the Prevention of Money Laundering Act (PMLA). According to this Act the identity of those entering into financial transactions must be known and verified. The procedure to do this is now known as KYC (Know Your Customer) norms.
2. How can I complete my KYC formalities or become KYC compliant?
  1. SEBI has developed a uniform KYC process. An investor needs to complete the KYC formalities with a KYC Registration Agency (KRA) by providing proof of identity, proof of address and In-person verification. KRA is the centralized agency, which maintains the KYC records of the investors.
3. How many KRAs are registered with SEBI?
  1. There are 5 KRA’s registered with SEBI
    1. CVL KRA
    2. NDML KRA
    3. Dotex KRA
    4. CAMS KRA
    5. Karvy KRA
4. Where can I get the KYC forms?
The KYC forms can be downloaded from the website or from the respective KRA websites.
5. Where can I submit my KYC form and documents?
  1. Investor can submit the documents and form to any of our Investor Service Centre’s or to the CAMS-Investor Services Centre
6. How will I come to know my KYC compliance status?
  1. Investor can check the KYC compliant status on the respective KRA websites.
Ultimate Beneficial Owner
7. Who is an Ultimate Beneficial Owner (UBO)?
  1. Ultimate Beneficial Owner is one who ultimately owns or controls the investment. All categories of investors (except individuals, listed companies and majority owned subsidiaries of listed companies) have to provide information about beneficial ownership. An UBO of a company is one who owns or is entitled to more than 25% of its shares or profits and more than 15% in case of partnerships and body of persons.
8. How can I register the UBO?
  1. Investor can fill up the ‘Declaration of Ultimate Beneficial Ownership’ Form and submit to the nearest Investor Service Centre’s of IDBI mutual fund. The information is updated in the central data base CAMS and shared with all other AMC’s where investor has investments.
Subscription Related FAQs
9. I am a resident individual, what documents I need to submit to invest in a mutual fund?
  1. An investor needs to submit the following documents to any of our Investor Service Centre’sor to the CAMS-Investor Services Centre
    1. Common application form -
    2. Third party declaration
    3. KYC Acknowledgement (Verified by KRA)
    4. Cheque/RTGS/NEFT
10. Being non-individual entity, what documents need to be submitted to invest in a mutual fund?
  1. Investors, other than resident individuals needs to submit the following documents–
    1. Common Application form -
    2. Third party declaration
    Check list - All documents should be original / true copies certified by a Director / Trustee / Company Secretary / Authorized signatory / Notary Public / AMC or R&T Officials)
    Documents Companies Societies Partnership Firms Investment through PoA trusts NRI FIIs PIO
    Copy of the PAN Card
    Copy of the KYC acknowledgement
    Resolution / Authorization to invest
    List of authorized signatories with specimen signatures
    Trust Deed
    Bye-laws
    Partnership Deed
    Overseas Auditor Certificate and SEBI registration certificate
    Notarized POA
    Proof of Address
    PIO Card
    Foreign Inward Remittance Certificate
    Foreign Account Tax Compliance Act (FATCA)
    Ultimate Beneficial Owner (UBO)
11. How can I opt for units in Demat mode at the time of subscription in NFO?
  1. Investor needs to select the Unit holding Option Mode as DMAT in the Application form and specify the Depository Participant name, DP Id/Client ID of beneficiary on the application.
Joint Holdings FAQs
12. I am a joint holder in a Mutual Fund investment account (folio). Do I need to comply with KYC requirement?
  1. Yes, all the holders need to be KYC compliant.
13. I am a joint holder in a Mutual Fund investment account (folio). Do I need to be related to the first holder?
  1. No, it is not necessary for the joint holders to be related to each other or sharing any blood relationship.
14. Maximum how many people can jointly open an account?
  1. Maximum 3 persons can jointly open an account.
15. What is the difference between “joint holding mode” and “anyone or survivor” in a joint account?
  1. Under the "joint holding" mode, financial and non-financial transaction requests should be signed by all unitholders of the folio.
  2. Under "anyone or survivor" mode, any one of the unitholders may sign the financial and non-financial transaction requests.
16. Can I add a new joint account holder or delete an existing one?
  1. No, an investor cannot add or delete the joint account holder to an existing folio.
Nominations
17. What is meant by nomination?
  1. Nomination is a facility that enables a unit holders to nominate a person to whom the units can be transferred in the event of their death.
18. How is nomination beneficial?
  1. In the event of the investor’s death, units are transferred to the nominee. This ensures hassle free transfer of investments to the person appointed as the nominee.
19. How can I nominate a person?
  1. Nomination can be made in the application form at the time of purchases, or at any subsequent time, using a nomination form.
20. Can I have the nomination facility in a joint account?
  1. Yes, joint accounts can have nominations.
21. Can there be more than one nominee in an account?
  1. Yes, you can nominate maximum 3 nominees in the folio
Minors FAQs
22. Who is a minor investor?
  1. Minors are investors who are less than 18 years of age on the date of investment.
23. Can minors operate the account?
  1. Minors cannot operate the account. The financial transactions are conducted on their behalf by the natural guardian (i.e. father or mother) or a court appointed legal guardian.
24. Can minors open joint accounts with their parents or brothers or sisters?
  1. There cannot be any joint accounts with minor as the first or joint holder
25. What are the documents required for opening the account of a minor?
  1. Date of birth of the minor is mandatory along with photocopy of supporting documents
    1. Birth proof of the minor
    2. Document to establish the relationship of the guardian with the minor
    3. Permanent account number (PAN) of the guardian who is investing on behalf of a minor.
26. What is the limit on the amount that can be invested on behalf of the minor?
  1. There is no limit to the amount invested if the payment is done from the minor’s bank account. However, payment by Parents/Grand-Parents/related persons on behalf of a minor is limited to a value not exceeding Rs.50, 000/- (each regular purchase or per SIP installment).
27. Can the minor start operating the account directly once he/she attains 18?
  1. No transactions are allowed in a minors account, till the status is changed from minor to major.
28. What is the process of changing the status of minor to major?
  1. List of standard documents to change account status from minor to major:-
    1. Services Request form, duly filled and containing details like name of major, folio numbers, etc.
    2. New Bank mandate where account changed from minor to major
    3. Signature attestation of the major by a manager of a scheduled bank / Bank Certificate / Letter
    4. KYC acknowledgement of the major
Investment account or Folio related FAQs
29. What is a folio?
  1. Investors in mutual funds are allotted a folio number when they make a first purchase with a fund house, whether in an NFO or in an existing scheme. It is like a bank account number.
30. What is the use of folio?
  1. Investors can make and hold multiple investments in a single folio.
31. Can I have more than one investment account or folio?
  1. Yes, investor can hold multiple investment account or folio.
32. How can I close my account or folio?
  1. An investor can download the cancellation request form and submit at the Official Point(s) of Acceptance of IDBI mutual fund or CAMS.
33. Can I close the account if I have units in the folio?
  1. No, before closing the account, an investor needs to redeem all the units in the folio.
Registering multiple bank account statements
34. Can I register more than one bank account in my folio?
  1. An investor can register up to 5 bank accounts in folio. One account as “default” and up to 4 additional bank accounts.
35. How can I register multiple bank accounts?
  1. Investor can download the multiple bank accounts registration form.The form needs to be submitted along with a cancelled cheque of such bank accounts at the official point of acceptance of IDBI mutual funds.
Registering multiple bank account statements
36. How often is the NAV declared?
  1. NAV of IDBI mutual fund schemes is declared on a daily basis by 9.00 p.m. and updated on the website and on AMFI’s website
37. What is the applicable cut-off time in respect to purchase of mutual fund units?
Type of Scheme Transaction Cut off Time Applicable NAV
Equity oriented funds and debt funds (except liquid funds) in respect of purchases less than Rs.2 lacs Purchases Switch -ins 3.00 p.m. Same day NAV if received before cut off time.Next business day NAV for applications received after cut off time
Equity oriented funds and debt funds (except liquid funds) in respect of transaction of Rs.2 lacs or more Purchases Switch -ins 3.00 p.m. NAV of the business day on which funds for the entire amount of subscription / purchase as per the application are available for utilization before the cutoff time will apply

For purchase transaction of Liquid and Money Market funds?
Type of Scheme Transaction Cut off Time Applicable NAV
Liquid fund Purchases Switch –ins 2.00 p.m. Previous day NAV if received before cut off time and funds are realized.If received after cut off time, NAV of the day previous to funds realization.
Equity Oriented Funds, Debt funds, Liquid funds Redemptions Switch –outs 3.00 p.m. Same day NAV if received before cut-off time.Next business day NAV for applications received after cut off time.
Transaction FAQs
38. What do I get as my proof of investment in a mutual fund?
  1. Mutual fund emails statement of account to the registered email-id of an investor as a proof of investment.
39. How can I purchase additional units in my mutual fund?
  1. Investor can purchase either through –
    1. Physical mode – can download the transaction slip form - and submit at the nearest point of acceptance of IDBI mutual fund
    2. Online mode – investor can log in with registered User ID and password to purchase the additional units.
40. Can I transact through my mobile?
  1. Existing investor of IDBI Mutual Fund can transact through Mobile by Transaction over SMS facility.
41. Do I need to pay any charges for online transactions?
  1. No, there are no charges for online transactions.
42. How can I invest through stock exchange?
  1. An investor needs to register with any of our distributor who offers the facility of electronic buy / sell of MF units.
Transaction Charges
43. Do I need to pay any transaction charges?
  1. Yes, as per SEBI guidelines, a distributor is entitled to charge transaction charge per subscription of Rs.10, 000 and above.
44. What are the transaction charges levied by a mutual fund?
  1. For direct investments there is no transaction charge
    1. For existing investor a transaction charge of Rs.100 for each mutual fund subscription above Rs.10, 000.
    2. First time mutual fund investor, the transaction charge that can be levied is Rs.150.
    3. SIPs - The transaction charge shall be applicable only if the total commitment through the SIP amounts to Rs.10, 000 and above. These charges can be recovered over 3-4 installments.
Consolidated Account Statement
45. What is a Consolidated Account Statement CAS?
  1. Consolidated Account Statement is an account statement that allows an investor to view all their holdings and transactions as of a specified date across all schemes of all mutual funds.
46. When do I receive my account statement?
  1. The account statement is emailed not later than 10 business days from the date of transaction. In case of an NFO, the SoA must be emailed to investors within 5 days of allotment.
47. When do I start receiving the consolidated account statement?
  1. CAS is generally sent every month, for your mutual fund transactions during a calendar month and dispatched to you before the 10th of the succeeding month.
48. Are there any charge or fees that I need to pay to receive the CAS?
  1. There are no charges or fees to be paid by a unit holder to receive the CAS.
49. What if I have not transacted in a folio for a long period of time?
  1. If there are no transactions in a folio in a half year period ending September or March, CAS is sent at the end of the 6 months period.
50. How do I download the account statement from Karvy website?
  1. Investor can download the account statement by visiting the following link –
    Karvy
Redemption FAQs
51. How do I redeem the units in the demat account?
  1. An investor needs to transact through stock exchange by approaching the depository participant/broker for redeeming the units.
52. How can I redeem the units?
  1. An investor can redeem the units by submitting a written request or transaction slip at the nearest point of acceptance of IDBI mutual fund. The transaction slip can be download
  2. Investor can also redeem the units online by logging in with the registered User ID and password mode –
53. Are there any charges applied while redeeming the units?
  1. Following charges are applicable while redeeming the units –
    1. Exit load, if any
    2. Securities Transaction Tax (STT)
54. How will I receive my redemption proceeds?
  1. The redemption proceeds are paid out to the registered bank account of an investor as updated in the folio.
Dividend FAQs
55. Within how many days will I receive the dividend?
  1. SEBI has mandated to pay the dividends within 30 days. Generally, it is paid within 10 working days from the record date.
Systematic Withdrawal Plan (SWP)
56. What is systematic withdrawal plan (SWP)?
  1. This facility allows unit holders to withdraw a fixed amount on monthly basis by redemption of units in the unit holders’ account.
57. How can I set up a systematic withdrawal plan?
  1. An investor can download and fill up a common form for Systematic transactions and choose Systematic Withdrawal Plan.The form can be download. The form should be submitted to Official Point(s) of Acceptance at least 7 days before the date of commencement / start date of SWP.
58. When can I withdraw from the plan?
  1. Investors can withdraw the amount on the 25th of each month. In case the 25th of the month is a non-business day, the transaction would be effected on the next business day.
59. Do I get statement of account for the withdrawal plan?
  1. Yes, the first account statement is sent to investors within 10 working days from the date of the transaction, confirming the first systematic transaction and for subsequent transactions, the account statement is sent on a quarterly basis.
60. How can I discontinue the SWP facility?
  1. Unitholder can discontinue SWP facility at any time by sending a written notice to any of the Official Point(s) of Acceptance, at least 7 days prior to next SWP execution date.
SWITCH
61. What is meant by Switch?
  1. A switch is a redemption and purchase transaction rolled into one. A redeeming scheme is called source scheme from which money is switched out. The purchasing scheme is called target scheme, into which the money is switched in.
62. What will be the applicable NAV for the switch transactions?
  1. Switchover between the Growth and Dividend Options of the same scheme will be at the applicable NAV and switchovers to other schemes will be at NAV related prices.
Systematic Transfer Plan
63. What is systematic transfer plan (STP)?
  1. This facility allows Unit holders to transfer specified fixed sums on periodic basis from one scheme to other scheme launched by the Mutual Fund from time to time by giving a single instruction.
64. How to register for STP
  1. An investor can download and fill up the Common form for Systematic transactions and choose STP. The form can be downloaded.The form should be submitted to Official Point(s) of Acceptance at least 7 days before the date of commencement / start date of STP.
65. What is the frequency of transfer?
  1. STP facility is offered -
    1. Daily (only offered under ILIQF, IUSTF & ISTBF; on all Business days),
    2. Weekly (1st Business day of the week),
    3. Monthly and (1st, 5th, 10th, 15th, 20th or 25th of the month under monthly)
    4. Quarterly – (1st month of each quarter under quarterly)
66. How can I discontinue the STP facility?
  1. Unitholder can discontinue STP facility at any time by sending a written notice to any of the Official Point(s) of Acceptance, at least 7 days prior to next transfer / STP execution date.
Systematic Investment Plan
67. What is systematic investment plan?
  1. SIPs enable investors to invest a fixed sum periodically into a mutual fund scheme.
68. What is the frequency of investing in a SIP?
  1. SIP is offered on Daily (only IDBI Ultra Short Term Fund), monthly and quarterly frequency
69. Is there any particular date to invest in a SIP?
  1. Unit holders can opt to invest in monthly or quarterly frequency on the following dates - 1st, 5th, 10th, 15th, 20th and 25th of each month / first month of the quarter.
70. What is the minimum Investment option available in SIP?
  1. Minimum amount to be invested is Rs.500 and in case of micro-sip it is Rs.50
71. How can I start a SIP?
  1. An investor can start a SIP by submitting the following documents at the official point of acceptance of IDBI mutual fund-
    1. Common application form
    2. SIP form
    3. First cheque
Investor can download the form by visiting at- http://www.idbimutual.co.in/download_application_form.asp
72. When will the SIP amount start getting debited from my bank account?
  1. It usually takes about 15 - 21 working days to process the documents and initiate SIP.
73. Can I start a new SIP in my existing folio?
  1. Yes, investor can start a new SIP in an existing folio. Investor can start by submitting theSIP enrollment form at the nearest official point of acceptance of IDBI mutual funds.
74. Can I invest in multiple SIPs in the same scheme?
  1. Yes, an investor can register for multiple SIPs in the same scheme but with different SIP dates.
75. Can I change the amount invested in a SIP?
  1. Yes, investor can change the amount of SIP by discontinuing an existing SIP and starting a new SIP
76. How can I discontinue the existing SIP?
  1. Investor can discontinue the SIP facility by sending written request to any Official Points of Acceptance of IDBI mutual fund, at least 21 calendar days prior to the next ECS debit / Direct debit.
77. How will I come to know my SIP has ended?
  1. Asset Management Companies usually send a communication to investors towards the end of the SIP term, asking to renew the SIP for an additional period.
78. How can I renew my SIP?
  1. You can renew the SIP by submitting the SIP form with the new term along with the cancelled cheque at the nearest official point of acceptance of IDBI mutual fund
Transmission
79. How do I transfer units for investment (Transmission Process)?
For transferring the units an investor needs to submit the following documents link -
Lien FAQs
80. What is meant by Lien Marking
  1. When an investor is in need of funds, he/she can pledge the units of mutual funds as collateral to banks or financial institutions to avail funds.
81. How can mark lien on my investment?
  1. The investor needs to make a request in writing to mark a lien providing the details of the folio number, scheme name, plan, option and the number of units. This letter, along with a covering letter from the institution providing the loan is to be submitted to our official point of acceptance.
Investor Grievances FAQs
82. If I have any complaint or grievance relating to my mutual fund investment, how should I get it resolved?
  1. Investors have two options. They can approach
    The Registrar, Karvy at the below mentioned details -
    Registrar - Karvy Computershare Pvt. Ltd.
    SEBI Registration Number: INR000000221
    Unit: IDBI Mutual Fund
    KARVY SELENIUM, Plot No.31 & 32, Tower B, Survey No.115/22, 115/24 & 115/25, Financial District, Gachibowli, Nanakramguda, Serlingampally Mandal, Hyderabad - 500 032, Ranga Reddy District, Telengana State.
    Phone: 040-3321 5121 to 040-3321 5123.
    Email:idbimf.customercare@karvy.com
  2. Or they can approach the Trustees at,(http://www.idbimutual.co.in/trustees.asp)
83. What if my complaint remains unresolved or I am not satisfied with the response given by the mutual fund?
  1. If an investor’s complaint is unresolved or not satisfied with the response of the mutual fund, he/she can lodge their grievances with SEBI at http://www.scores.gov.in/ or can also write to SEBI at the below mentioned address.
    Securities and Exchange Board of India
    Office of Investor Assistance and Education (OIAE)
    Plot No.C4-A, “G” Block, 1st Floor,
    Bandra-Kurla Complex,
    Bandra (E), Mumbai – 400 051
    Phone: 26449199-88-77
Non-Financial Transactions FAQs
84. What is the process of changing my address in the folio?
  1. The prescribed form of change in details can be downloaded from https://www.cvlindia.com/downloads01.html. The form along with the new proof of address can be submitted any of the designated point of service. The list of PoS can be found at www.cvlindia.com.
85. How can I change the bank details?
  1. An investor can change the bank account details by submitting the following documents–
    1. Transaction slip/Request letter from investor
    2. Cancelled original cheque for New Bank Mandate; OR
    3. Original Bank Statement. True copy can be accepted if original is brought to the branch for verification; OR
    4. True copy of Bank Passbook, if the original Passbook is brought to branch for Verification
86. After my marriage, how can I change my investments to my new maiden name?
  1. Investor needs to get KYC compliant with new maiden name changes.
  2. Post that they need to submit a letter to us with the following documents –
    1. Attested copy of marriage certificate
    2. New signature attested by the investor’s banker
    3. Cancelled cheque with new name printed on it
    4. Copy of acknowledgment received from KRA for change in KYC details
    5. Copy of PAN with new name
    6. New address proof such as electricity bill, new passport copy etc.
87. What is the procedure for registration of Power of Attorney (POA) in a folio?
  1. An investor needs to submit a certified copy of Power of Attorney, with signatures of both parties, along with the common application form.