According to SEBI regulations, OTP verification is required for all mutual fund requests to ensure the security and authenticity of your transactions. This process adds an extra layer of protection to your investments.
Key Points:
- Security: OTP verification helps prevent unauthorized access and ensures that the request is made by the rightful account holder.
- One-Time Process: You only need to verify with an OTP when setting up or changing an SIP. It won't affect future SIP installments or step-ups.
This verification step is crucial for keeping your transactions safe and secure.