SBI will transfer 2,498 crores to the accounts of these people from today, know why?

Franklin Templeton is good news for investors investing in closed schemes of mutual funds. SBI Funds Management (SBI MF) will distribute Rs 2,489 crore from today under the next installment to the unitholders of the six schemes of Franklin Templeton Mutual Fund. 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.

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 updated KYC, will be paid during the week commencing on Monday 3 May 2021.

The spokesman 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 done digitally

The Supreme Court has appointed SBI MF as the liquidator for the closure of the schemes. If the bank account of the unit holders is not eligible for payment either digitally or electronically, 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 discontinued

Among the six schemes that Franklin Templeton Mutual Fund closed, 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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