Question 1

What is Mutual Fund?

Accepted Answer

Mutual fund is an investment vehicle for investing in stocks and bonds. Mutual funds pool money from a large number of investors and invests this money in securities such as stocks, bonds, money markets instruments and similar securities.

Question 2

What is SIP ? How SIP is different from Mutual Fund?

Accepted Answer

SIP is a systematic Investment Planning which helps an investor to invest a fixed amount regularly in a mutual fund scheme.
SIP is not different from Mutual fund ,it is actually a  vehicle to invest in mutual fund in regular intervals of time instead of investing in one go.

Question 3

What is KYC?

Accepted Answer

KYC validates your identity, address and signature among other things and is a prerequisite for investment in mutual funds and even opening of a bank account. Without valid documents for KYC the financial institution in question, (bank or Asset Management Company) may refuse you the opportunity to open a bank account or grant permission for investment in any mutual fund schemes.

Question 4

Why KYC?

Accepted Answer

The Reserve Bank of India, the apex bank of the nation has made KYC compulsory for all banks and financial institutions in 2004. KYC is of primary importance as not only an identity proof but also a safeguard against money launderers or other criminal activities .

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