The proposal caps annual investment at Rs 50,000 per investor, per mutual fund, without PAN. However, Aadhaar verification is mandatory. Investors are expected to make a commitment for five years (60 instalments), though there will be no restriction on closing the plan early. The paper also suggests ways to help the asset management companies (AMCs) to recover the additional costs they incur by subsidizing these sachet-sized SIPs. It says the AMCs can be compensated from the investor education and awareness fund maintained by the mutual fund industry. Sebi estimates that AMCs will be able to break even within two years.Sebi will accept industry feedback till February 6.
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