ARN fee waiver extended till March 2014: AMFI

India Infoline News Service | Mumbai |

Around 1,200 people have applied with AMFI for an ARN license till March 2013

AMFI (Association of Mutual Funds in India) has extended the ARN fee waiver period till March 2014. ARN licenses are valid up to three years.

In order to expand the distributors network, AMFI had started issuing ARN free of cost to individuals and new cadre of distributors from February 2013. This is the second time AMFI has extended the fee waiver period.

New cadre of distributors include intermediaries engaged in distribution of financial products e.g. insurance agent, FD agent, national savings scheme products, PPF, etc. registered with any other financial services regulator and business correspondents appointed by banks.

Around 1,200 people have applied with AMFI for an ARN license till March 2013 and 200 applications under the new cadre of distributor category were received till March 2013, according to the data available on the AMFI website.




 

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