IDFC Mutual Fund has discontinued the SMS transaction facility for subscription or redemption of units of its schemes with effect from April 27, 2022.
The fund house informed the investors about the closure through a notice-cum-appendix dated April 26, 2022.
SMS transaction, till recently, facilitated additional purchase, redemption and SIP registration in eligible open-ended schemes of IDFC MF through a single message from a registered mobile number.
The fund house said that any transaction received through SMS transaction facility on or after April 27 will not be accepted and processed.
All other features, terms and conditions as stated in the SID (Scheme Information Document), KIM (Key Information Memorandum), and SAI (Statement of Additional Information) of IDFC Mutual Fund, issued from time to time read with addendum , remain unchanged,” according to the notice.