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  Terms and Conditions

Terms and Conditions for SMS Transactions Registration:

  1. The SMS transaction facility (“this facility”) is available for existing KYC compliant individual investors (including guardian on behalf of minor) with ‘Single’ or ‘anyone/either or Survivor’ holding.
  2. In order to avail this facility, Unitholder(s) of IDBI Mutual Fund shall be required to provide the details as mentioned in the ‘Registration cum Debit Mandate form for SMS transactions’.
  3. Currently, this facility is available for purchase, redemption (for amounts less than Rs. 1 Crore) and can be modified/changed at the sole discretion of IDBI Mutual Fund without any prior notice of whatsoever nature.
  4. Purchase transaction(s) can be done in terms of ‘Amount’ only whereas Redemption transaction(s) can be done in terms of ‘Amount” or “ALL” units. The minimum purchase/redemption amount in the respective scheme/plan of IDBI Mutual Fund will be applicable for each transaction.
  5. Mobile Number Registration: Unitholder(s) should mandatorily mention a mobile number (issued in India) for this facility. The Mobile number & E-mail ID provided in the SMS registration mandate form shall be updated, overwritten in the folio for which the facility is contemplated.
  6. One Mobile Number and One Folio combination: This facility is available with a condition that one mobile number can be registered with one folio only.
  7. Unitholder(s) should inform IDBI Mutual Fund or its Registrar and Transfer Agents viz. M/s. Karvy Computershare Pvt. Ltd. (“RTA”) about any change in their bank account number, mobile number or e-mail address by submitting a duly signed written request.
  8. Unitholder(s) further accept(s) that submission of SMS registration mandate form for availing this facility does not automatically imply acceptance of the same by IDBI Mutual Fund. IDBI Mutual Fund reserves the right to reject an application without assigning reason thereto.
  9. Unitholder(s) of IDBI Mutual Fund can start transacting using this facility only after successful registration of the SMS debit mandate form with their bankers and on receipt of confirmation from IDBI Mutual Fund or its RTA via SMS/Email/Letter.
  10. NAV for the transaction will be applicable based on the time of receipt of the SMS into the server of the RTA and other factors like scheme, type of transaction, amount, date and time of realization of funds as per regulations and will be treated on par with similar transactions received through other modes. For the purpose of this facility, RTA would be considered as an Official Point of Acceptance for the transactions.
  11. Unitholder(s) are requested to note that IDBI Mutual Fund reserves the right to amend the terms and conditions, or modify, or discontinue this facility for existing as well as prospective investors at anytime in the future. Unitholder(s) are requested to read relevant notice, addenda, Scheme Information Document (SID), Key Information Memorandum (“KIM”) of the schemes and Statement of Additional Information (SAI) issued from time to time for further information. For any queries or clarifications in this regard, please call us on 1800 419 4324 or e-mail us at contactus@idbimmutual.co.in
  12. Unitholder(s) of IDBI Mutual Fund agree/s and acknowledge/s that any transaction undertaken using the registered mobile number, shall be deemed to have been initiated by the Unitholder(s). If the transaction is delayed or not effected at all for reasons of incomplete or incorrect information/key word/scheme code or due to non-receipt of the SMS message by the RTA for any reason whatsoever or due to late receipt of SMS due to mobile network congestions or due to non-connectivity or any other reason beyond the control of IDBI Mutual Fund or its Registrars, Unitholder(s) will not hold IDBI Mutual Fund and/or its Registrars responsible for the same.
  13. The request for any transaction should be considered as completed only on receipt of confirmation to that effect from RTA on the registered mobile number or e-mail address of the Unitholder(s) of the Fund.
  14. Any transaction request submitted on a non-business Day will be deemed to have been received on the next business day in accordance with the provisions provided in the Scheme Information Document (‘SID’) of the schemes and/or Statement of Additional Information (‘SAI’) and will be processed accordingly.
  15. Following rules are applicable at the time of allotment of units:
    • If investor submits the SMS registration mandate form with ARN code and SMS sent for purchase transaction with “Regular” scheme code, transaction will be processed under “Regular” plan of the respective scheme and registered broker code will be captured for the transaction.
    • If investor submits the SMS registration mandate form with ARN code and SMS sent for purchase transaction with “Direct” scheme code, transaction will be processed under “Direct” plan of the respective scheme with “Direct” code.
    • If investor submits the SMS registration mandate form with ARN code box “Blank”, “Direct” and SMS sent for purchase transaction with Regular scheme code, transaction will be processed under “Direct” plan of the respective scheme with “Direct” code.
    • If investor submits the SMS registration mandate form with ARN code box “Blank”, “Direct” and SMS sent for purchase transaction with “Direct” scheme Code, transaction will be processed under Direct plan of the respective scheme with “Direct” code.

Bank account registration for debit towards Purchase:

  1. Currently, this facility is available for NACH participating banks only. Please note that the list of banks and branches may be modified/updated/changed/removed at any time in future at the sole discretion of IDBI Mutual Fund without assigning any reasons or prior notice.
  2. Unitholder(s) of IDBI Mutual Fund will have to specify a single bank mandate in SMS registration mandate form for Purchase through this facility. Unitholder(s) should submit an original CANCELLED cheque of the bank account alongwith the registration mandate form for this facility, failing which registration may not be processed.
  3. The bank account number mentioned in the SMS registration mandate form is intended to be debited towards Purchase only. Please note that only the existing bank account details registered in the folio shall be considered (by default) for payment of redemption proceeds.
  4. The responsibility of the bank account information provided in the SMS registration mandate form or any other application form for this facility solely rests with the Unitholder(s) and IDBI Mutual Fund/RTA will not be responsible or liable for any loss, claims, liability that may arise on account of any incorrect and/or erroneous data/information furnished by the Unitholder(s).
  5. Unitholder(s) hereby confirm/s, acknowledge/s and undertake/s to make payments for subscription of units from their respective bank account(s) in compliance with applicable provisions related to third party payments detailed in the SID, SAI and ensure that the payment will be through legitimate sources only.
  6. Unitholder(s) shall ensure availability of sufficient funds in their respective bank account as specified in the SMS registration mandate form, at the time of initiating purchase transaction and at the time of the bank account being debited.
  7. The bank account of the Unitholder may be debited towards the purchase within a period of one to seven business days depending upon the NACH clearing cycle for the location concerned. However, in case of non-receipt of funds, for whatsoever reasons, the transaction shall stand cancelled and the units allotted, if any, would be reversed.
  8. Unitholder(s) agree that IDBI Mutual Fund/RTA/service providers shall not be held liable for any unsuccessful registration and/or transaction due to any action or inaction of the Unitholder(s) bank, including but not limited to reasons mentioned below and agree to indemnify IDBI Mutual Fund/RTA against all liabilities, losses, damages and expenses which they may consequently incur/sustain either directly or indirectly:
  1. Loss of the SMS registration mandate form in transit from IDBI Mutual Fund/RTA/service provider to point of acceptance of the form to RTA head office and further dispatch to the Unitholder(s)’ bank branch, where such loss has not occasioned as a result of a gross negligence or wilful default on the part of IDBI Mutual Fund /RTA;
  2. Non-acceptance/non-registration or rejection of SMS debit mandate form for whatsoever reason by the Unitholders bank; Transaction/s not getting processed due to non-confirmation of registration/rejection by the Unitholders bank within a reasonable time;
  3. Rejection of transaction/s due to non-registration/non-availability of funds or any other reason/s whatsoever; any other such reason beyond the reasonable control of IDBI Mutual Fund/RTA/service provider.