New Delhi. SBI Mutual Fund has started working on Monday to refund the investment amount to the unitholders of the six schemes of Franklin Templeton Mutual Fund. Under the next installment, SBI is transferring a total of Rs 2489 crore to the accounts of the unitholders. SBI MF has already disbursed Rs 12,084 crore to investors. It had disbursed Rs 2,962 crore during the week commencing on 12 April 2021.
How will the investment amount be returned
A spokesperson for Franklin Templeton Mutual Fund said, SBI Mutual Fund will disburse Rs 2,488.75 crore to the unitholders of the six schemes under the next installment. He said, the investors whose account is KYC updated will be paid during the week commencing on Monday 3 May 2021. The spokesperson said that the payment to the unitholders will be made proportionately based on the net asset value (NAV) of the unit on 30 April. SBI MF will make payments to eligible investors in a digital manner.
Payment will be made directly to the account
The Supreme Court has appointed SBI MF as the liquidator for the closure of the schemes. If the unitholders’ bank account is not eligible for digital or electronic payment, a check or ‘demand draft’ will be sent to its registered address. Explain that the Supreme Court in March accepted the standard operating procedure prepared by SBI MF to market the assets and distribute the proceeds from it to the unitholders to return the money to investors investing in the six bond schemes of Franklin Templeton. Was
These six schemes were closed
The six schemes that Franklin Templeton Mutual Fund closed were Franklin India Low Duration Fund, Franklin India Dynamic Accrual Fund, Franklin India Credit Risk Fund (Franklin India Credit). Risk Fund, Franklin India Short Term Income Plan, Franklin India Ultra Short Bond Fund and Franklin India Income Opportunities Fund I went. The total assets under management of these schemes were Rs 25,000 crore.
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