eCAN Terms

  • I/We acknowledge to have read and understood the Terms and Conditions contained herein as well as the Terms and Conditions applicable to a regular CAN and agree to be legally bound by them always by ticking the "I Agree to the eCAN Terms” check box.
  • I/We agree that CAN shall be created only upon the data submitted for CAN creation being complete in all respects and the supporting documents being in good order, clear and legible, to the satisfaction of MFUI.
  • I/We agree and accord consent that MFUI may acquire any data / information / documents such as signatures, Bank Account details, etc. from KYC Registration Agencies (KRA) / AMCs / RTAs or any other third party like MFDs/RIAs, Transaction Platforms, as per my/ our terms of agreement with such parties and / or MFUI and utilize such data sourced from such parties for the creation of CAN. I / We also unequivocally authorize MFUI to obtain data / information / documents received and rely on them without validating the same with me / us.
  • I / We agree that for completely electronic eCAN, MFUI will auto-generate a CRF based on the data / information / signature(s) / documents submitted by me / us OR MFD/RIA electronically received by MFUI. I/We also agree that the CRF so generated will be a valid and legally binding document for all purposes whatsoever related to the CAN.
  • I / We agree that in the event of mismatch between the signature(s) as per CAN and RTA/ AMC records, the relevant folios may get de-mapped and the transactions under such de-mapped folios are liable to be rejected by the AMC / RTA.
  • I / We agree that MFUI at its discretion may call for physical submission of CRF along with supporting documents and specimen signatures. MFUI reserves the right to seek any additional information / confirmation (oral / written) as it may deem necessary to authenticate the eCAN.
  • I / We agree that eCAN will be approved after necessary verifications by the MFU team.
  • I / We agree not to misrepresent my / our identity or provide information about any other person in the eCAN process or violate the legal rights of any person by creating a CAN on his /her behalf.
  • I / We hereby declare that:
    • I / We have read and understood the information, requirements and the instructions mentioned in this Form (including the FATCA & CRS instructions) and hereby confirm that the information provided by me / us on this form is true, correct and complete to the best of my / our knowledge and belief and provided after necessary consultation with tax professionals.
    • I / We hereby agree and confirm to inform MFUI / AMC / Mutual Fund / Trustees for any modification to this information promptly.
    • I / We further agree to abide by the provisions of the Scheme related documents inter alia provisions on Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) on Automatic Exchange of Information (AEOI).
    • In case any of the information is found to be false or untrue or misrepresenting, I / We am / are aware that I / We may be liable for it.
    • I / We have provided all the necessary documents / annexures, wherever asked for, to substantiate the information provided by me / us in the form and agree to provide any further information if required, for this registration.
    • I / We hereby agree and authorize MFU to map our existing and future folios with Mutual Funds to this CAN and update the CAN related information provided hereinabove in these folios from time to time.
    • I / We understand that in case of folios where the information / signature(s) doesn’t match with that of a CAN such folios may be de-mapped.
  • I / We agree to indemnify MFUI from and against any claims, actions or demands, including without limitation legal fees alleging or resulting from the breach of any illegal, unauthorized or fraudulent usage of eCAN or the breach of terms and conditions contained herein.

Transaction Terms

  • I / We agree that:
    • Transaction will be triggered upon eCAN approval.
    • The transaction will be time-stamped upon approval by the Investor(s) and will be sent to RTA post receipt of subscription money.
    • MFUI reserves the right to seek any additional information / confirmation (oral / written) as it may deem necessary to authenticate the eCAN registration cum transaction.
    • By accepting to these terms, conditions and declarations, I/ we irrevocably authorize MFUI to act upon the transactions executed through the facility.
    • All records, whether in electronic form, magnetic medium, or any other form with respect to transactions carried out through this Facility shall be conclusive evidence of such transactions and shall be binding on the Investor(s).
  • Realization of funds with regard to subscription transactions: -
    • For subscription transactions, Payment Aggregator will transfer the funds into the respective AMC accounts directly without transferring it to MFU account in proportion to the investments made in the respective schemes of the AMC by the Investor(s).
  • NAV Applicability: All prevailing rules and regulations with regard to NAV applicability will apply to the transaction.
  • Restriction on Acceptance of Third-Party Payments for Subscription of Units in Mutual Fund Schemes:
    • The payment should be made only from one of the bank accounts registered under the CAN being transacted.
    • In case it is found that the payment is not made from a registered bank account under the CAN, MFUI / the respective Mutual Fund / AMC / its RTA reserves the right to reject the transaction and refund the money to the source account.
  • Limitation of Liability and Indemnity - MFUI / its Service Providers shall under no circumstance be liable for any direct, indirect, incidental, or consequential damages or losses whatsoever sustained by the Investor(s) owing to:
    • any transaction done through this facility, carried out in good faith by MFUI on the reliance of confirmation provided by the Investor(s).
    • any unauthorized usage / unauthorized transaction carried out by using this facility or misuse and hacking of Mobile Number and Email id of the Investor(s) / distributor / RIA.
    • fraud, error, defect, failure, interruption, non-availability of the facility
    • any negligence / mistake by the Investor(s) / distributor / RIA in carrying out transaction through this facility including but not limited to failure by Investor(s) to intimate MFUI about any unauthorized transaction through this facility or failure on part of Distributor / RIA to carry out transaction as required by the Investor(s).
    • rejection of transaction not in accordance with the provisions of Scheme related documents of respective Schemes or not in accordance with the directions of the MFU / AMC / RTA.
    • rejection of transactions which in the opinion of MFUI are not genuine or are otherwise improper, unclear or doubtful.
    • the transaction not being in accordance with the PayEezz mandate or in excess of the maximum limit specified in the PayEezz mandate for debit instruction that is presented to the bank account.
    • any system failure at the end of the Payment Aggregator / Bank or any other Service Provider.
    • non-availability of the facility owing to force majeure events i.e. natural calamity or due to fire, periodic maintenance activity of MFUI servers, virus attack, phishing attack, failure of MFUI’s Service Providers; The Investor(s) agrees to indemnify and keep MFUI / MFUI’s Service Providers/ AMC / RTA indemnified from any such direct, indirect, incidental or consequential damages or losses whatsoever sustained by the Investor(s).

The aforesaid terms and conditions are binding upon usage of the facility.

*** YES Bank system will be down on Saturday 7th December 2024 and Monday 9th December 2024 from 12.00 AM IST to 06:00 AM IST due to their scheduled maintenance activity. During this period DO NOT INITIATE fund transfer via NEFT, RTGS and InstaUPI mode as the payment may get delayed.*** With a view to improve performance and enhance the high availability of MFU System, it has been decided that transactions older than the previous Financial Year i.e., transaction data prior to 1st April 2022 will be archived on 18th April 2023. * * * “If you have any dispute against a listed company and or its Registrar and Share Transfer Agent (RTA) on delay or default in processing your request, as per SEBI circular dated 30.05.2022, you can file for arbitration with Stock Exchange.” For more details, please see the web links of the stock exchanges: BSE - http://tiny.cc/m1l2vz NSE – http://tiny.cc/s1l2vz * * * Please ensure to validate your Nomination Details registered under CAN. Click here to complete the validation if not already done. * * * Please ensure to verify your Contact Details registered under CAN. Click here to complete the verification if not already done. * * * Check out the Videos about MFU and the features offered. * * * Explore the new and improved Schedule Transactions feature using which you can register a Scheduled Purchase Plan (SPP), Scheduled Redemption Plan (SRP) and Scheduled Switch Plan (SSP) * * * Download the MFU Mobile App Distributor Mobile App goMF available for Android and IoS * * * Use the Connect menu on the top menu bar to lodge a Complaint / Query / Feedback. * * * MPIN / Touch ID based authentication is now enabled on the goMF app. Please update the App to start using this feature.