DSP BlackRock MF launches investor service initiative – OTM

With OTM, investors can authorise their bank to debit their account up to a certain specified limit per day.

December 17, 2013 8:33 IST | India Infoline News Service
DSP BlackRock Investment Managers Pvt. Ltd announced the launch of its investor service initiative, One Time Mandate (OTM).

OTM is a onetime registration process that enables investors to transact with DSP BlackRock Mutual Fund in a simple, convenient and paperless manner in the future.

With OTM, investors can authorise their bank to debit their account up to a certain specified limit per day, as and when they transact with DSP BlackRock Mutual Fund without the need to sign a cheque or transfer funds online.
DSP BlackRock Investment Managers Pvt. Ltd. is the first asset management company in the country to introduce this service that would help its investors to make fresh investments in any of its mutual fund schemes including NFOs, start new SIPs, redeem investments, and also switch investments to other schemes. With the OTM facility, DSP BlackRock Mutual Fund investors can now transact either by signing a physical form, through its website dspblackrock.com, or sending an SMS (to 567672855) or calling the call centre (toll free no 1800- 200-4499).
OTM uses a new generation platform at National Automated Clearing House (NACH) which helps reduce the registration time to just 10-12 days as against the current 30 days in the ECS platform. Most banks are already participating in the NACH platform to facilitate quicker registration. For banks which are yet to join the NACH platform, OTM facility uses the Electronic Clearing System (ECS) platform.
One of the significant benefits of the OTM facility is that registrations for new SIPs via OTM can be done in only 5 days. This used to take 30 days earlier.  OTM also offers investors convenience and flexibility to invest any time in any DSP BlackRock Mutual Fund scheme. The facility eliminates the need for investors to sign cheques for making a purchase, thereby making the process paperless, eliminating the need to courier forms or to travel to the DSP BlackRock Mutual Fund office to submit them. Investors can also assign different daily upper transaction limits, in case they have more than one folio.
New investors in DSP BlackRock Mutual Fund who do not have a folio can avail of the OTM facility by submitting just two forms - common application form with relevant KYC documents, and the OTM Registration form.
Speaking on the occasion, Mr. Ajit Menon, Executive Vice President & Head of Sales, DSP BlackRock Mutual Fund said, “The launch of the OTM facility reinforces DSP BlackRock’s commitment to offer a superior, secure, and convenient service to our growing investor base across the country. OTM is paperless, cost effective, environment friendly and a time saving service initiative which would offer ease and convenience to our valued investors.”

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