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What happens when you place a mutual fund order?
- Order Placed: When you place a mutual fund order, it is instantly communicated to the exchange.
- Payment Collected: Payment is collected via the BSE star payment link where you can pay using UPI/ Net banking
- Payment Transferred to ICCL: The funds collected are transferred to the exchange’s clearing corporation, ICCL (Indian Clearing Corporation Ltd).
- Order Validated by Exchange: The exchange validates your order and the payment. If everything is in order and within the cut-off time, the exchange sends the details to the AMC (Asset Management Company).
- Units Allocated by AMC: After validating the order, the AMC allocates the mutual fund units to your portfolio through RTA.