Mutual funds or other certificates

This query is : Resolved

Juhi Agrawal (Querist)
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25 June 2012 Hi Everyone,
My friend called me and asked can he invest in mutual funds on behalf of his sister so that in coming Raksha bandhan festival he can give those mutual funds to his sister as a gift.
My query is will he be needing KYC requirements?
if yes, than any other investment certificate where such KYC requirement isnt madatory

Please suggest somthing
Thanks in advance

Regards
juhi agrawal

B Ravi Kumar ACMA, MBA, M Com

B Ravi Kumar ACMA, MBA, M Com (Expert)
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27 June 2012 KYC is made mandatory for investment in Mutual funds. If he want to gift MF to his sister, she should be KYC compliant.

He can invest in LIC, NSC and can gift them, as they don't need KYC compliance.

He can buy gold or silver and can give as gift.