Paytm Money, one of India’s largest direct mutual funds (MF) selling platforms,

Paytm Money asked customers to comply with additional KYC

This shift entails users getting a unique client code (UCC) and a demat account.

Users need to complete the additional KYC steps to migrate by 25 July, or their future investments in MFs including SIPs

Paytm Money has been offering direct mutual fund purchases on its own platform using an RIA code.

Now, investors will instead need to use the broker code for transactions on the BSE StAR platform.

SEBI requires that these UCCs be mapped to only demat accounts.

In case a user would still prefer to opt out, they can place a redemption request for their investments on Paytm Money platform.