Sell Authorization for MF Redemption Order for Non-POA Customer

Sell Authorization for MF Redemption Order for Non-POA Customer

With the objective of enhancing security for all transactions in mind, regulatory bodies and exchanges have been adding layers of security to the trading and investment processes. In compliance with guidelines set by the regulatory bodies, Our mutual fund redemption process has also witnessed a few revisions. These changes are applicable only for our Non-POA (Power of attorney) customers. 

A Non-POA customer will have to complete an authorization before placing a mutual fund redemption order here on. This process is live on the 5paisa website, Android app version 3.2.2 & above and IoS version 2.4.2 & above. This authentication is only valid for a day and for the maximum amount of 1Cr on the given day. 
  • Please note that in case the order is placed before the cutoff time on a particular day( Till 1 pm) - Client will have to authorise TPIN only once before placing a redemption order.
  • If an order is placed post cutoff time (After 1 pm) - The client will have to authorise twice. Once before order placement and again on the next working day before 1 pm. 

Placing an MF redemption order on App:

Step 1: Go to MF portfolio and place an MF redemption order by entering the amount/units to redeem. 

     
       
Step 2: On confirm, You will be redirected to the Authorization page. Click on Authorize now and enter TPIN 

     

Step 3: You will be redirected to the redemption order placement screen. Click confirm. 




Placing an MF redemption order on the website:

Step 1: Go to holdings on MF dashboard 



Step 2: For Non-POA users, in holdings, you will see a card for authorizing on the top. Click on Authorise now.



Step 3: You will be redirected to the CDSL site, where you have to enter your TPIN. 


Step 4: From the holding page, now you can place a redemption order.