Non-Financial Transactions

What this chapter covers

Units 12 to 15 carry 30 marks between them — about 7.5 marks for this chapter.

LEARNING OBJECTIVES: After studying this chapter, you should know how different non-financial transactions relating to mutual funds are carried out. These relate to: Changes in Investor Details · Registration of Nominee/ Power of Attorney · Transmission of Units · Change in Investment Option of a scheme · Investor Grievance Redressal Mechanisms · Value Added Services provided by RTAs

Investors may need to update or change the personal information given to the mutual fund. Address for communication, bank details, and change in status among others, may require change from time to time. These transactions are non-financial transactions. They do not have a financial or NAV implication.

That last sentence is the definition — no money moves, no NAV applies.

An investor becomes a unit holder of a mutual fund after buying units of the fund. Investors provide general information about themselves in the application form at the time of purchase. The registrar and transfer agent (RTA) capture the contact address, bank account details, status, plan or option chosen and all other relevant information. The R&T agent links the information given in the application to the folio allotted to the investor. In other words, folio number is a unique identification number that helps R&T agent recognise an investor.

The third sample question follows — changes in personal information are made by the Registrar and Transfer Agent.

15.1 Change in name

Investors may request a change of name under which they have invested in a mutual fund scheme. Common cases for change of name are change of first/ middle name, women changing their maiden name due to marriage, change in name due to divorce etc.

The documents, as the case may be: self-attested copy of PAN card in the new name · KYC confirmation or acknowledgement copy in the new name · name change certificate by a regulatory authority · Gazette Notification towards name change duly Notarized · copy of Marriage Certificate duly verified and attested by Notary · copy of court order regarding divorce duly Notarized · details of the Folio · signature of the account holder (the unit holder whose name is being changed must sign with the old signature and the new signature) · bank account details with the new name incorporated (name change to be documented in bank before change request in MF folio).

Two details worth noting — both the old and the new signature must be given, and the bank must be updated first.

15.2 Change of address

Investors provide their address and contact details in the application form during the first purchase. R&T agent captures this information and maintains it. The statement of account (SoA) and other statutory communication goes to the address for communication mentioned by the investor.

Change of address request for folios that are KRA compliant will not be registered by the fund, and investor should get the address updated with KRA first. Investors may request a change of address or contact details only by applying to the KRA by using a KYC update form, where they will provide their new address. They should mention their PAN details and the new address. They also have to submit documentary proof for the change of address.

The KRA first, then everything else follows automatically.

After updating the new address in the records, the KRA communicates the change in address to the R&T agents, who will update all the folios of the investor, across mutual funds, using the PAN as the identification for the investor.

One update, every folio, every fund — because PAN is the joining key.

For non KYC folios, self-attested proof of address and PAN Card (or any other proof of identity for PAN exempt cases only) are to be submitted for change request at AMC offices or Investor Service Centres of RTAs.

15.3 Change of bank details

It is mandatory to provide details of investor's bank account at the time of investing in a mutual fund. As per SEBI regulations, dividend (IDCW) and redemptions are payable only to the investor's bank accounts registered with RTA. RTAs must make effort to directly credit the same to Investors' bank account; if direct credit is not possible, investor bank account details should be printed on the payment instrument.

How many accounts may be registered: investors may register multiple bank accounts and indicate the default account into which the redemption proceeds should be paid. An individual investor can register upto 5 bank accounts with a mutual fund and a non-individual investor can register upto 10 bank accounts. They can add and delete from the list of registered bank accounts.

Five for individuals, ten for non-individuals.

Investors may request a change in the bank details either at the time of a redemption or otherwise through the prescribed format for change in bank details.

What complete details mean: bank name, branch name, MICR (where applicable), IFSC code (where applicable), account number and type of account.

The proof: the investor should also submit a bank mandate form along with either a cancelled blank cheque leaf or self-attested copy of bank statement/ passbook (not older than 3 months) or bank's letter certifying bank account details, duly signed by bank manager/ authorised person of bank to enable verification of the bank details. The normal practice is for the AMC to do a test transaction of Re. 1/- to validate the bank details.

A rupee, to prove the account is real and belongs to the investor.

And proof of the old account too: investors may also require to submit cancelled cheque leaf/ bank statement etc. of the old bank account. This helps to ascertain the authenticity of the service request.

The fraud safeguard: whenever any change of bank mandate request is received simultaneously with, or just prior to submission of a redemption request, mutual funds / RTAs allow a cooling period of 10 days as a precautionary measure against unauthorized/ fraudulent transactions.

The sixth sample question confirms that a request to update the registered bank account is a non-financial transaction.

15.4 Other details

Contact details

An email id or a mobile number can be registered in folios of only one investor (PAN). In case a customer wishes to change his/her contact details i.e. email ID or mobile number, the investor is required to give a simple application for the same. Such application should be signed by all joint holders. RTA and AMC website also provide a form that the investor may use for the same.

One email or mobile, one PAN — unless a family declaration is given: if an email id or mobile number belongs to a family member needs to be registered, then "Family Declaration" needs to be submitted by the investor.

The facility to change the contact details may be provided on AMC/RTA website. However, if the investor desires to change both Email ID and Mobile number together, a cooling period of 10 days is required to be followed between change of both values.

A second 10-day cooling period — changing both at once is exactly what an impersonator would attempt.

PAN

Investors need to compulsorily provide their PAN information in their mutual fund folios to be able to redeem their investments. Investors can update PAN details in their folio either on the website of mutual fund or physically submit PAN details along with the updated PAN copy to the mutual fund's office or Investor Service Centres (ISCs). RTAs provide online facilities to provide PAN details in folios where PAN information is not available or to update the information. Investors are required to upload a self-attested copy of PAN of all the unit holders. RTA validates the signature against their records before updating the PAN information. This process needs to be followed individually for each mutual fund in which the investor holds investments. It must be ensured that Name in the folio should match with the Name as per Income Tax database and it should be Valid as per Income Tax database.

Note the contrast with address — a KRA address change propagates across all funds, but PAN updation needs to be followed individually for each mutual fund.

15.5 Minor becoming major

In case of a minor unit holder becoming a major, customers (who have attained majority) should first obtain new PAN card, complete KYC process with KRA through the intermediary and update information with the Bank. The AMC may be informed of the change after above steps are completed.

PAN → KYC → bank → AMC, in that order.

The minor, upon attaining the status of major, is required to provide all the KYC details, updated bank account details, including cancelled original cheque leaf of the new account. No further transactions are allowed till the status of the minor is updated to major in the records of the AMC.

The folio freezes until the status is updated — the eighth sample question answers submitting a KYC form with PAN and bank details of the major.

15.6 Registration of Power of Attorney

An investor can register the power of attorney (PoA) either at the time of opening a fresh mutual fund folio or in his existing mutual fund folio.

PoA in fresh mutual fund folio: The investor is required to provide the name of the PoA holder in the application form along with PAN and KYC details of the PoA holder and notarized copy of PoA.

PoA in existing mutual fund folio: Investors can register PoA by giving separate letter with details of PoA holder and request to register the POA in the folio. The investor is required to submit a copy of PAN card, KYC details of the PoA holder along with the notarized PoA.

The PoA document must carry the signature of the designated PoA holder. PoA without signature of PoA holder is not accepted.

Once this PoA registration is accepted in the folio, the PoA holder can start transacting on behalf of the investor. Cancelling PoA can be done by giving a letter to the respective mutual fund company. Both the PoA registration and cancellation will be reflected on the account statement as a non-financial transaction.

The fourth sample question asks who executes the PoA — the grantor. Chapter 12 defines them: the grantor who is the primary investor who grants the rights; and the Attorney (or holder of PoA) who is authorised to execute an agreed set of actions on behalf of the grantor.

15.7 Registration of nominee

An investor may appoint a nominee for his investments in case of his death. The salient points:

Nomination facility is available for individual investors only. Nomination facility is not available for non-individuals such as corporate, Trust, HUF, Minors etc.

Investors can nominate up to 10 Nominees in the account/folio.

A note on a difference within the workbook. Chapter 12 states that nomination can be made in favour of a maximum of three nominees, while this chapter, citing the SEBI circular of January 10, 2025 on revamped nomination facilities, says up to 10 Nominees. Chapter 15 is the later and more specific statement; a question in this chapter should be answered 10, and one in Chapter 12's terms answered as that chapter states. Read the question's context.

Personal Identifier Number of Nominee - Investor shall mandatorily provide any one of the following-PAN or Driving Licence number or last 4 digits of Aadhar (only document number is required, not the document). Also, full contact details of the nominee(s) residential address, e-mail, relationship of nominee with the investor and date of birth of the nominee (if minor) is required.

POA holder(s) cannot nominate.

Minor may be a nominee. In that case, a guardian must also be mentioned to manage the investments on behalf of the nominee.

An investor may change nominee as and when required.

Appointment and change of nominee will reflect as a non-financial transaction in the account statement.

If a single investor does not wish to appoint a nominee, they must give a specific declaration for the same.

In case of death of the investor, nominee/claimant is required to complete his/her KYC and submit a request for transmission of units. Once the units are transmitted to the nominee/claimant, he/she may redeem the same or continue the investment.

The rights in the units will rest in the Nominee(s) only upon death of all unit holders. In case of investors opting to hold the Units in demat form, the nomination details provided by the investor to the depository participant will be applicable.

The nominees(s) shall receive the assets of deceased sole account/sole holder(s) as trustee on behalf of legal heir(s) of deceased holder(s) thereby effecting due discharge of concerned regulated entity.

A nominee is a trustee, not an owner — an important distinction. Contrast the surviving joint holder, below, who shall receive the assets as owner(s) and not as a trustee.

Legal heir(s) of nominee shall not be eligible to inherit the assets of the investor if the nominee predeceases the investor.

Upon demise of one of the nominees prior to the demise of the investor and if no change is made in the nomination, then the assets shall be distributed to the surviving nominees on pro rata basis upon demise of the investor.

In case of any subsisting credit facilities secured by a duly created pledge the regulated entity shall obtain due discharge from the creditors prior to transmission of assets to the nominee(s) or legal heir/s.

Nomination shall be mandatory for single holding only. The requirement of nomination shall be optional for jointly held accounts / folios.

Regulated entities shall provide acknowledgement to the investor for each and every instance, irrespective of the mode of nomination. They shall maintain physical or electronic records... of the nomination, its acknowledgement etc. for a period of eight years after transmission of the folio/ account.

Eight years after transmission.

Regulated entities shall provide in their periodic statement of holding, either the a) name(s) of the nominee(s) or b) whether or not nomination has been made by the investor – Y/N. The aforesaid shall be as per the choice of the investor.

In case the investor specifies multiple nominees, then he / she shall also specify the percentage share for each nominee. In absence of such specification, the regulated entity shall apportionment the assets equally among all the nominees. In case of demise of the investor and any one of the nominees, the regulated entities shall distribute the assets pro rata to the remaining nominees.

Declare or opt out — there is no third choice. SEBI has mandated that all individual MF investors are required to either (a) declare nominee(s) for their folios or (b) opt-out of nomination through a signed declaration.

How the form is validated: the physical forms should carry the wet signatures of all the unitholders. In case of online option, instead of wet signature(s) of all the unitholder(s), AMCs shall validate the forms: digital signature certificate or Aadhar based e-Sign or by using e-Sign facility recognized under Information Technology Act, 2000; or through two factor authentication (2FA) in which one of the factor shall be a One-Time Password sent to the unitholder at his/her email/ phone number registered with the AMC.

In absence of nomination, the regulated entity shall transmit the assets in the account / folio to either the legal heir(s) or legal representative(s) of the holders as per the rules of intestate succession or as per the Will of the latter, as the case may be, after following the prescribed procedure.

15.8 Pledge and lien marking

Mutual Fund units may be offered as collateral for various types of loans. In such cases, the borrower/ unit holder write a letter to the AMCs/ RTAs requesting to pledge the units in favour of the lender. The unit holder provides the details such as the folio number, the scheme and the number of units for which lien has to be marked. The RTA records the event and marks a lien in favour of the lender.

However, the amount of loan and other terms of the loan are a commercial agreement between the borrower and the lender and RTA/ AMC have no role to play in the same.

The RTA records the lien; it is not party to the loan.

Once lien is marked, the units cannot be redeemed by the investor/ borrower without a no objection certificate (NOC) issued by the lender. The lien may be removed at the request of the lender only. In case the borrower is unable to pay the loan, the lender may "invoke" the pledge and have the units transmitted in their favour.

And the lender ranks first: in case of death of an investor, rights of the lender / lien holder supersede the rights of the joint holder/ nominee.

15.9 Transmission of units

Transmission is the process to transfer mutual fund units in case of the demise of the unit holder. The transfer of units can be done to the claimant who can be the surviving unit holder or the nominee registered in the folio or the legal heir. If the first holder of the mutual fund units passes away, the units are transmitted to the second holder. In case there is only one holder, the units are transmitted to the nominee/ legal heir.

The seventh sample question defines it — transfer of units upon death of a unitholder to a nominee/legal heir.

A tax-reporting refinement: a standard reason code "TLH" (i.e Transmission to legal Heirs) shall be used by the reporting entities while reporting the transmission of securities from nominee to legal heirs, to the CBDT so as to enable proper application of the provision of the Income Tax Act, 1961.

Six situations, and the forms differ:

I — to surviving unitholders

Transmission Request Form (Form T2) · Death Certificate in original or photocopy duly notarized or attested by Gazetted Officer or a Notary Public in original · copy of PAN card of the surviving joint holder(s) · cancelled cheque of the new first unit holder with the claimant's name pre-printed or recent bank account statement/ pass book (not more than 3 months old) · KYC Acknowledgement or KYC Form of the surviving unit holders · FATCA & CRS details · transmission will be completed only once the status of the KYC is "KYC complied" · ID proof... of the deceased person attested by the claimant(s), duly notarized or originals can be shown at the AMC branches and OSV seal attested by them.

The Rule of Survivorship:

In case of joint accounts / holdings, upon demise of one or more joint holder(s), the regulated entity shall transmit the assets held to the surviving holder(s) vide name deletion.

The surviving member(s) shall receive the assets as owner(s) and not as a trustee.

Surviving joint holders shall be entitled to continue with or change or cancel the nominations made previously.

The mode of operation (of the joint account), namely that of the first named holder OR anyone or survivor OR either-or survivor basis OR joint, etc. shall be unaffected by the rule of survivorship.

The norms applicable for operation of the account / folio shall be mutatis mutandis applicable for nomination.

Owner, not trustee — the opposite of a nominee.

II — to registered nominees

For transmission of assets to the registered nominee(s), the regulated entity shall require only the following: Form T3 · self-attested copy of Death Certificate · due completion, updating or reaffirming of the KYC of nominee/s · due discharge from the creditors if there are subsisting credit facilities secured by a duly created pledge.

And a strong protection for the nominee: regulated entities shall not seek any other documentation including affidavits, indemnities, undertakings, attestations or notarizations from the nominee(s) — with no claims in respect of such transmission shall subsist against regulated entities and any claim or contestation shall be only amongst the nominee(s) and the claimants without reference to regulated entities.

Also required where relevant: birth certificate if the nominee is a minor, PAN card of the nominee/ guardian, a cancelled cheque or statement if the registered bank mandate does not belong to registered Nominee(s), ID proof of the deceased, and FATCA & CRS details.

Where all joint holders die together: the assets go to the registered nominee(s); and in absence of nomination... to either the legal heir(s) or legal representative(s) of the youngest of the joint holders as per the rules of intestate succession or as per the Will of the latter.

The youngest, because he would ordinarily have survived the others.

III — where no nominee is registered

Form T3, plus the death certificate, birth certificate where the claimant is a minor, PAN card of the claimant/ guardian, KYC (completed only after the KYC status is updated as "KYC complied"), a cancelled cheque or statement not more than 3 months old, and ID proof of the deceased.

Then the value thresholds bite.

If transmission amount is upto Rs. 5 lakhs (per the AMFI Guidelines dated January 31, 2024): bank attestation of signature of the claimant by the Bank Manager · any appropriate document evidencing relationship of the claimant/s with the deceased unitholder/s · Bond of Indemnity to be furnished by Legal Heirs for Transmission of Units without production of Legal Representation — though in case the legal heir(s)/claimant(s) is submitting the Succession Certificate or Probate of Will or Letter of Administration or appropriate Court order wherein the claimant is named as a beneficiary, an affidavit... alone would be sufficient, i.e., Bond of Indemnity is not required · individual Affidavits to be given by each legal heir · NOC from other Legal Heirs.

If transmission amount is more than Rs. 5 lakhs: signature of the claimant duly attested by a Notary Public or a Judicial Magistrate First Class (JMFC) · individual affidavits from legal heir(s).

Between Rs. 5 lakh and Rs. 10 lakhs, any one of: notarized copy of Registered Will along with a Notarized indemnity bond from the claimant, or Legal Heirship Certificate or its equivalent, with a notarised indemnity bond and No Objection Certificate from all the non-claimants (i.e., remaining legal-heirs), duly attested by a Notary Public, JFMC or by a Gazetted Officer.

Above Rs. 10 lakhs, any one of: Notarised copy of Probated Will · Succession Certificate issued by a competent court · Letter of Administration or court decree, in case of Intestate Succession — plus identity proof... of all legal heirs signing the NOC/affidavit other than claimant/s.

Bank attestation → notary or JMFC → registered will or heirship certificate → probate or succession certificate. The evidence hardens as the money grows.

IV and V — HUF

HUF, being a Hindu Undivided Family, the property of the family is managed by the Karta and HUF does not come to an end in the event of death of the Karta. In such a case, the members of the HUF will appoint the new Karta.

The HUF survives; only the Karta changes.

Form T4 with the death certificate, a duly certified Bank certificate stating that the signature and details of new Karta have been appended in the bank account of the HUF, KYC of the new Karta and of the HUF, an indemnity bond signed by all the surviving co-parceners and new Karta, relationship evidence, ID proof of the deceased Karta, and FATCA & CRS details. Above ₹ 5 lakh, the new Karta's signature must be attested by a Notary Public or a JMFC.

Where the family itself has ended: Form T5 applies upon death of the Karta of HUF, where there is no surviving co-parcener or the HUF has been dissolved/partitioned — with a Bond of Indemnity, the same Rs. 5 lakh attestation threshold, and where dissolved, a notarized copy of Settlement Deed, OR notarized copy of Deed of Partition, OR notarized copy of Decree of the relevant competent Court.

Two general points: PAN card copy or any other proof of identity of claimant/s is not required separately, if the claimant has already complied with the KYC procedure, and where the units are to be transmitted to a claimant who is a minor, various documents like KYC, PAN, Bank details, indemnity should be of the guardian of the nominee.

Ease of process

SEBI... has prescribed ease of process for transmission of units: image based processing wherever the claimant is a nominee or a joint holder · a dedicated Central Help Desk and a webpage · a common Transmission Request Form (common fields) and No Objection Certificate (NOC) form, available on the website of the AMCs, RTAs and AMFI · a common set of document requirements for nominees and joint holders · a uniform process for treatment of unclaimed funds... including the unclaimed dividends · and AMCs should not accept requests for redemption from a claimant pending completion of the transmission of units in his /her favour.

VI — deletion of a deceased 2nd or 3rd holder

Form T1 from the surviving unitholders, the death certificate, a fresh Bank Mandate Form along with cancelled cheque of the new bank account (only if there is a change in existing bank mandate), a fresh Nomination Form (or Nomination Opt-out form) in case there is no nomination or a change... is desired, KYC of survivors, and ID proof of the deceased.

15.10 Change in option

Investors choose a pay-out/ re-investment option or growth option when they apply for a scheme, and among payout options between (a) Pay-out of Income Distribution cum Capital Withdrawal (IDCW) option and (b) Re-investment of Income Distribution cum Capital Withdrawal (IDCW) option.

Why the names changed. Mutual Fund units when sold at higher price (NAV) than the face value, a portion of sale value represents realised capital gains and can be used to pay dividend. In order to clearly communicate to the investors that, under pay-out/ reinvestment option of a Mutual Fund Scheme, certain portion of his capital can be distributed (paid-out/ re-invested) as dividend, SEBI renamed the options:

To request this change, investors can use either the transaction slip (switch option provided in the slip) or write a letter to the mutual fund. Investors have to provide the folio details.

And why it is non-financial: if the investor decides to change the IDCW option, there is no financial implication. This is because the NAV for pay-out and re-investment of IDCW options are the same. Therefore, change of IDCW option is a non-financial transaction and not a financial transaction.

15.11 Corporate name, status and signatories

Change in corporate status refers to the change from a private limited company to a public limited company or from a partnership firm into a private limited company. Change in the name of a company can happen when there is a merger or acquisition, or the board decides to change the name. The investments in the old name will have to now be held in the new name, for valid transactions to happen.

Documents: the name change certificate from the Registrar of Companies and an authorisation to invest, approval from the board, and list of authorised signatories.

Change in authorised signatories. Institutional investors authorise officials to sign on their behalf. Companies change or replace authorised signatories from time to time... R&T agent is given this information so that the necessary validation of the investment transaction happens with the updated authorised signatories list.

Two documents: certified true copy of the Board of Directors resolution authorising the change and an instruction letter from the corporate or institution signed by the existing authorised signatory with names and specimen signatures of the new signatories.

The second sample question asks what must accompany the request — the workbook lists the board resolution and the instruction letter, so the resolution is the document named among the options.

Investor grievance redressal

An investor has the right for redressal of all his complaints related to services provided by AMCs and RTAs.

Route provided by RTA: the investors can approach the Investor Service Centre of RTA clearly explaining the service issue... If the issue is not redressed, the investor may choose to write an email to the dedicated department or call centre of AMC/RTA. In case, the issue still remains pending, the investor may send an email to the Compliance Officer.

Route provided by AMC: an investor can also approach the concerned Mutual Fund/ Investor Service Centre of the Mutual Fund. If the complaint remains unresolved, the investor may write to the designated Investor Relations Officer of the mutual fund, details of whom are provided in the SID/ website. And investor can write to SEBI with the complaints details (in case it remains unresolved).

SCORES 2.0: the investor has the option to use SEBI's online investor grievance redressal system, SCORES 2.0 (SEBI Complaint Redressal System), to register complaints, follow-up and track the status of the same. It enhances investor grievance resolution in the securities market with improved efficiency through auto-routing, auto-escalation, oversight by 'Designated Bodies,' and streamlined timelines.

Disclosure duty: AMCs/ RTAs must disclose information on all investor complaints received by them and redressal thereof in a specified format, on their respective websites and AMFI website, on a monthly basis, latest by 7th of succeeding month.

SMART ODR: if you are further dissatisfied with the resolution on SCORES, you can file the dispute on SMARTODR and your dispute will be redressed within 90 days. Online Dispute Resolution provides conciliation and arbitration using video conferencing thus ensuring that investors are able to get a timely solution without having to visit different offices.

Table 15.1 timelines: a complaint must be redressed immediately, but no later than 21 days from the date of receipt; escalation to SCORES or SMART ODR within 21 days from receipt of complaint on SMARTODR; conciliation within 21 days, extendable by 10 days with consent of both parties; and arbitration to be concluded within 30 days... extendable by 30 days with consent of the parties.

15.12 Value added services by RTAs

RTA provides various value added services to investors to help them better monitor their investments and enabling investors in efficient tax planning/ filing:

Consolidated account statement for individual/ all family members with common email ID including investment amount, number of units held, asset allocation (debt / equity) · Statement of realized capital gains · Report of pay-out of IDCW · Statement of ELSS · Statement of unrealized capital gains, helpful for an investor to make decisions about tax implications of redemptions · Statement of Grandfathered Equity Schemes, which incorporates NAV as on January 31, 2018 and is useful for tax planning for redemptions · Holding and Portfolio Valuation Statement for helping an investor understand his net-worth and make asset allocation decisions.

Seven statements.

15.13 Turnaround times

Note the pattern: name, signature and nomination take 30 days; address, bank, PAN and demat take 15.

15.14 MITRA

MITRA platform is developed and hosted by the QRTAs (CAMS and KFintech) and available through a link on MFCentral / AMCs / AMFI / MFRTA) and it facilitate the investors with a searchable database of inactive and unclaimed Mutual Fund folios at an industry-level.

Mutual Fund Investment Tracing and Retrieval Assistant.

What it empowers investors to do: enable investors to identify the overlooked investments or any investments made by any other person for which he/she may be rightful legal claimant · encourage investors to do KYC as per the current norms thus reducing the number of non-KYC compliant folios · contribute towards building a transparent financial ecosystem · build and incorporate mitigants against fraud risk.

The definition to remember: an inactive folio shall be defined as "Mutual Fund Folio(s) where no investor-initiated transaction/s (financial and non-financial) have taken place in the last 10 years, but unit balance is available".

Ten years, and units still there.

The chapter's sample questions confirm that change of address, bank details and nominee are all valid change requests; that a change of authorised signatories needs the board resolution; that changes in personal information are made by the Registrar and Transfer Agent; that the person executing a PoA is the grantor; that a non-financial transaction request is signed by unit holders as per the mode of holding; that a bank detail update is a non-financial transaction; that transmission is the transfer of units upon death of a unitholder to a nominee/legal heir; that a minor becoming major must submit a KYC form with PAN and bank details of the major; and that the RTA's key role is processing investor service requests such as address, email, or contact detail changes.