NISM-Series V-A: Mutual Fund Certification Exam Notes
Page 42 Of 63
Go to:
The benefit of ASBA is that the money goes out of the investor's bank account only on allotment. Until then, it keeps earning interest for the investor.
Small investors are allowed cash transactions for purchase of units in mutual funds to the extent of Rs. 50,000/- per investor, per mutual fund, per financial year
Instant Access Facility - IAF facilitates credit of redemption proceeds in the bank account of the investor on the same day of the redemption request.
The MFs/AMCs can offer IAF only in Liquid schemes of the mutual fund. The monetary limit under the IAF is Rs. 50,000 or 90 percent of latest value of investment in the scheme, whichever is lower.
Cutoff timings are not applicable for NFO's and International Funds.
MODELEXAM® 
www.realsoftinfoplan.com