What does "Politically Exposed Person" mean?
According to Financial Action Task Force (FATF), a Politically Exposed Person (PEP) is an individual who has or has been entrusted with prominent public function. Individuals who are have been entrusted with prominently public functions typically include:
- Heads of State or Government
- Senior Politicians
- Senior Government
- Judicial or Military Officials
- Senior Executives of State owned corporations
- Important Political party officials
The definition of being "Related to a Politically Exposed Person" typically includes:
- Family members who are related to PEP either directly or through marriage or similar (civil) partnerships
- Individuals who are closely connected to a PEP, either socially or professionally
How does investing through Glide Invest mean more returns?
At Glide Invest, we only sell direct plans of mutual funds. Regular plans contain a distribution commission that is paid by the Fund to the distributor or broker who sold you that plan. This forms the part of the fund expense ratio and it is deducted ...
Can I create an account for a minor?
Yes, you can create an account for a Minor with Glide Invest. However, the setup needs to be done manually through our customer support team. Once the account is setup, all transactions can be done through the app just like a normal user. Step-1: ...
Can I add more than one nominee?
No, you can only nominate one person as a nominee for the time being. We will add multiple nominees in future versions of the app based on customer demand for the same.
Why does the bank mandate form contain an amount of Rs. 2,00,000?
As a default number and in order to avoid multiple mandates in case of multiple SIPs, for our paper mandate, we take a broad approval of Rs. 2 Lac from our customers. Remember that the mandate is just an authorisation document. Having a bank ...
Is it mandatory to link Aadhaar with PAN?
Yes, absolutely! As per notice provided by CAMS to all online distributors, recent amendments to the Income Tax Rules (detailed extract given under) makes it mandatory to link Aadhaar with PAN, on or before 30th Sep 2021 (previously 30th Jun 2021), ...