NISM-Series V-A: Mutual Fund Certification Exam Notes
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Annual Account Statement - MF's provide the Account Statement to the Unit-holders who have not transacted during the last 6 months prior to the date of generation of account statements.
Consolidated Account Statement - (CAS) for each calendar month is sent by post/email on or before 10th of the succeeding month provided there has been a financial transaction in the folio in the previous month
Switch is a redemption from one scheme & a purchase into another combined into one transaction.
NACH - National Automated Clearing House (NACH) is a centralised clearing system launched by the National Payments Corporation of India (NPCI).
NACH is a web based solution for Banks, Financial Institutions, Corporate and Governments, to facilitate interbank high volume, electronic transactions which are repetitive and periodic in nature.
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