Online buy sell mutual funds through NSE Platform

Online Mutual Fund Transaction Facility

National Stock Exchange (NSE) has launch NSE NMF II platforms to do online mutual funds transactions in one login. The SEBI allowed investors to buy, sell, switch mutual funds (MFs) on NSE NMFII exchange without a demat account.

Benefits of the NMF II PlatformRegistration ProcessKYC is MandatoryInvestor Information Form (IIN)

Key Benefits of the NMF II Platform

  • Facilities like buy, redemption, Switch, SIP / STP/ SWP, additional purchase, NFO.
  • Facilitates problem free on-line submission of monetary transactions.
  • Real time trailing of order standing.
  • Payment options like Cheque / Demand Draft, Net banking (online), RTGS /NEFT, NACH
  • Generate quick reports – portfolio, gain & loss, taxation, transaction status.
  • Eliminates paperwork significantly thereby reducing operational work.
  • Enhanced efficiency in transaction submission, settlement and reconciliation
  • Single screen to add multiple orders across multiple mutual funds
  • Single payment for multiple orders across multiple mutual funds
  • Single platform to access all mutual funds across all AMCs across all RTAs
  • Single view / read of the holdings across all funds
  • Efficient back-end interfaces with eco system partners.
  • SMS / email intimation to the investors and much additional.
  • No extra cost to investor.

What is the procedure to get registered as investors on NSE NMFII platform?

NSE NMF II authorised Mutual Fund Distributor to register investors on NSE NMF II MF Simplified platform, for being able to transact then online. Upon registration by the MF Distributor, an Investor Identification Number (IIN) will be generated for the investor and it will be the single identifier for the investor to transact.
Steps to get IIN.
1] Investors need to fill up necessary details to get IIN No. Click here.
2] Send your softcopy of documents for verification with above data like
• PAN Card Copy
• Address Proof
• Copy of Cheque
3] After verification of filled Investors Information form and submitted documents, IIN form will be generated.
4] Investor will get per-filled IIN Form on registered email address and Login ID & Password  through SMS.
5] Investor needs to take print of IIN Form on A4 paper size.
6] Investor needs to be signed the IIN form and attached cancelled cheque. (Name should be printed on cheque, if not then submit bank statement or passbookcopy.)
7] To activate your online mutual fund transaction investment account investor needs to submit IIN Form along with cancelled cheque to NSE service center i.e. CAMS any branches (Click here) or Handover it to  or send it to us.
8] It takes about a week for the registration process on receipt of the form.
9] Again you get a confirmation on registration and you can start using the platform.

1] What is KYC?

Ans: KYC is an acronym for ‘Know your Client’, a term commonly used for Client Identification Process. SEBI has prescribed certain requirements relating to KYC norms for Financial Institutions and Financial Intermediaries including Mutual Funds to ‘know’ their clients. This would be in the form of verification of identity and address, providing financial status, occupation and such other demographic information to CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL). Applicant must be KYC compliant while investing with any SEBI registered Mutual Fund.

W.e.f. January 1, 2011, all categories of investors irrespective of amount of investment in Mutual Funds are required to comply with KYC norms under the Prevention of Money Laundering Act 2002 (PMLA) for carrying out the transactions such as new/ additional purchase, switch transactions, new SIP/ STP/ DTP registrations received from effective date i.e. January 1, 2011.

2] Does the investor have to repeat the KYC process with every Mutual Fund?

Ans: Once the KYC is duly completed in all respects, the investor needs to produce a copy of the Acknowledgement to the fund where the investor desires to invest. There is no need to repeat the KYC individually for each Mutual Fund investment.

3] Where and how does get to be KYC compliant?

Ans: The Mutual Fund industry has appointed CDSL Ventures Limited (CDSL), a wholly owned subsidiary of Central Depository Services (India) Limited, to carry out the KYC compliance procedure. CVL through its Points of Service (POS) will accept KYC application forms, verify documents and provide the KYC Acknowledgement (across the counter on the best effort basis)

4Should the investor visit POS personally to obtain KYC compliance?

Ans: No. If the investor is not in a position to visit POS personally, the KYC application form along with the necessary documents (including originals if the copies are not attested) can be sent through the distributor or representative, who can arrange to fulfill the KYC obligation and obtain the KYC Acknowledgement through any of the POS.

5] Which supporting documents required investing in Mutual Funds and KYC?

A: If you are an Indian citizen / NRI (holding an Indian passport): Require following self-attested copy of

  • Permanent Account Number (PAN) card : 2 copy
  • KYC verification form with colour passport size photograph.
  • cancelled cheque leaf, or a recent account statement from your NRE/NRO account that is held with an Indian bank: – 2 copies
  • Foreign Address Proof–utility bill (phone/electricity), driving license with address, etc.: 2 copies.
  • Indian address proof – utility bill (phone/electricity), driving license with address, aadhar card, bank statement etc: – 2 copies.
  • Passport:- 2 copies
  • Tax File No, Citizenship Card No or green card no,: 2 copies.

B: If you are a foreign citizen (holding a foreign passport):

  • If you hold a PIO or OCI card, we will need, in addition to the documents above:
    – A photocopy of the foreign passport that has been attested by your local Indian embassy (in lieu of the Indian passport above)
    – A self-attested copy of your PIO or OCI card
  • We’ll also need the following supporting documents from you to get you Know Your Client (KYC) compliant (it is mandatory to be KYC-compliant to invest in mutual funds in India):
    – KYC form – duly filled and signed.
    – Recent color photo (signed across the photo)
    – Copy of PAN card, notarised (on an A4 size paper)
    – Copy of exact proof of overseas address, notarised (on an A4 size paper)
    – Copy of first and last pages of passport, notarised (if you are an Indian citizen)
    – Copy of foreign passport, notarised (if you are a foreign citizen)
    – Copy of PIO or OCI card, notarised (if you are a foreign citizen)

If you need take a help of mutual fund intermediary, Mutual Fund Advisor, Mutual Fund Distributors, Mutual Fund Brokers, Mutual Funds Consultants, Mutual Funds Agents, Mutual Fund Investment / Financial Advisors, financial planner.

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