There are certain rights enjoyed by the investors with respect to service standards that they can expect from mutual funds:
- Investors are entitled to receive dividends declared in a scheme, within 30 days.
- Redemption proceeds have to be sent to the investor within 10 business days from the date receipt of such request by the AMC. Delays in this respect will lead to the AMC paying a penal interest on the proceeds at a rate specified by SEBI from time to time. (The current rate is 15% and is to be borne by the AMC or sponsor and not the fund).