CDSL Ventures Limited Launches Mutual Fund
Identification Number Service using Newgen Solution
Starting
January 1 2007, investments of more than Rs. 50,000
by individuals or corporates in mutual funds would
require quoting of an identification number, Mutual
Fund Identification Number (MIN). The service
launched by CDSL Venture Ltd. (CVL), a subsidiary of
Central Depository Services Ltd. (CDSL), uses Newgen
solution for the same.
An investor
has to provide KYC (Know Your Customer) details only
once while applying for MIN. After being assigned a
unique MIN, the investor would be able to invest in
various mutual fund schemes of various houses,
without going through the hassle of providing KYC
details every time.
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© 2007 Newgen Software Technologies Limited.
All rights reserved.
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