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Impact on Registered Systematic Transactions

  • Standing instructions like SIP, SWP, STP are registered in a minor folio only till the date of the minor attaining majority, even though the instructions may be for an extended period.
  • When the minor is approaching the age of majority, we will send letters advising the guardian and the minor to submit the form along with prescribed documents to change the status of the account/folio to "major".
  • All SIP, STP, SWP and any other standing instruction registered in the minor's account will be suspended if the documents are not received by the date when the minor attains majority.
  • The account will be frozen for operation by the guardian on the day the minor attains the age of majority and no transactions shall be permitted till the documents related to minor turned major are received.

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