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Bank has launched EMV chip based debit card
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Corporate clients even who is not listed in any of the stock exchanges
Mutual Fund Investors may please note that with effect from July 1,2020, mutual fund units issued against Purchase transactions (whether through lump-sum investments or SIP or STP or switch-ins or dividend reinvestment) would be subject to levy of stamp duty* @0.005% of the amount invested.
Transfer of mutual fund units (such as transfers between demat accounts) are subject to payment of stamp duty* @0.015%.
*pursuant to Notification No. S.O 4419(E) dated December 10,2019 issued by Department of Revenue, Ministry of Finance, Government of India, read with Part 1 of Chapter IV of Notification dated February 21, 2019 issued by Legislative Department, Ministry of Law and Justice, Government of India on the Finance Act, 2019, and subsequent Notification dated March 30,2020 issued by Department of Revenue, Ministry of Finance, Government of India.
In an endeavor to enlarge the range of services available to our customers, since 2004 and 2006 Punjab National Bank from its designated branches has been distributing the products of,
Besides the above existing tie-ups, recently Bank has tied-up with four new Mutual fund Asset Management Companies:
Bank has terminated its Distribution Agreement with M/s TATA Asset Management Ltd. w.e.f 03rd July 2020 for distribution of Mutual fund products/schemes.
For any further clarification; the Mutual Fund customers of TATA AMC through PNB as a distributor (ARN code- 8418) are requested to contact their nearest branch or write us our email: firstname.lastname@example.org
Mutual funds have gained rapid popularity as a good investment vehicle and public at large is attracted towards MF investment, which has variety of schemes and income options offered by Mutual Funds which can suit the financial preferences of all classes of investors, be it Retail, Corporate or Institutional.
The robust performance of the industry comes on the back of growing investor awareness and increased investments in Systematic Investment Plans (SIPs).
AMFI data shows that Indian Mutual Funds have currently about 3.20 crore (32 million) SIP accounts through which investors regularly invest in Indian Mutual Fund schemes.
The MF Industry’s AUM has grown from Rs. 12.04 trillion as on May 31, 2015 to Rs. 24.55 trillion as on May 31, 2020, more than 2 fold increase in a span of 5 years.
The total number of accounts (or folios as per mutual fund parlance) as on May 31, 2020 stood at 9.10 crore (91 million), while the number of folios under Equity, Hybrid and Solution Oriented Schemes, wherein the maximum investment is from retail segment stood at about 8.03 crore (80.3 million). “
The following benefits, intrinsic to investments in Mutual Funds have inspired greater confidenceamongst the investors :-
Mutual Funds offer schemes keeping in view the risk profile and risk-return preferences of investors.
Mutual Funds Investments are subject to market Risk. Read all scheme related documents carefully before investing. For more details on risk factors, terms and conditions please read scheme related documents carefully before investing.Contract will be between Investor & Mutual Fund Asset Management company and not between Investor & the Bank. Punjab National Bank is a distributor of above mentioned Mutual Fund Asset Management companies having (Association of Mutual Funds in India) AMFI code 8418.
Following are the details of the commission earned by Punjab National Bank from various fund-houses:
* All equity funds includes flexi cap funds, Aggressive Hybrid, large, mid & small cap funds, international funds etc
** All debt funds includes Gilt, Income, short term & corporate bond funds, floating rate funds etc
^ Product providers share commission on trial only basis. The above rates are on annualized basis
For investors in Mutual Funds from B-30 locations, an additional commission of 0%-1.5% will be paid from AMC’s
The disclosure is in accordance with SEBI circular no SEBI/IMD/CIR No. 4/ 168230/09 and RBI circular no DBOD.No.FSD.BC.60/24.01.001/2009-10 dated 16/11/2009
Asset Management Company (AMC) may change rates, periodically etc. of commission /trail commission in case of change in regulations / expense ratio and any other factors which have an impact.
Punjab National Bank offers only Regular Plans in Mutual Funds. Details of Scheme level commission on Mutual funds are available with the Relationship Managers and would be produced on demand.
Punjab National Bank acts a distributor of Mutual Funds wherein it distributes products of various mutual funds.
If you need any further information on the same, please reach us at
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