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FAQ’s for digiSIP – Distributor Service

About digiSIP: 1. What is digiSIP? digiSIP is a 100% digital process to set-up an SIP and start the first instalment in 7 business days. digiSIP can be availed by both existing and new investors on www.camsonline.com. digiSIP innovatively uses the power of prefilled forms to set up an SIP in just a few clicks in combination with payment options such as existing mandate (if already set up) or new mandate via net-banking or e mandate. digiSIP promises the faster start to SIPs in just 7 business days, significantly reducing the current lead time of 30 days. digiSIP is designed to bring speed, ease and certainty to commencing new SIPs.

2. What are the benefits of digiSIP for distributors? o

Sales process simplified – being a completely digital process, distributors can leverage the digital edge to do away with the large volume of paper forms and process time

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Faster start to SIPs – commencing a new SIP can be done in just 7 business days, from the current 30 days.

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Set up multiple SIPs in one go.

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Minimal data input requirement for existing investors. Click based data entry

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Paperless mandate significantly reduces mandate registration process time

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eMandate can be set up electronically at PAN level as a common mandate for all Mutual Funds serviced by CAMS rather than for the specific SIP. Once set up, the e OTM can be chosen as the payment mode for any number of SIPs in any Mutual Fund serviced by CAMS. This eliminates the need to set up separate payment mandate for every SIP. Being electronic, e Mandate is registered in about 2 -3 days unlike paper mandate form which can take up to 30 days for registration. ( To be launched soon)

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Elimination of time spent on rework and resubmission when paper mandates are rejected.

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Grow your business with KYC compliant new investors

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Delight investors with a complete digital solution, OTP based concurrence

3. What are the pre- requisites to use digiSIP? 

As a distributor, you need to be empaneled with the AMC to initiate an SIP via digiSIP.

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Investor must be KYC compliant for you to set up an SIP for the investor.

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SIP start date should be after a minimum of 7 business days from the date the SIP set up is initiated

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If a new mandate is being done via net banking, mandate registration should be completed within 24 hours of setting up SIP. If this is not completed in 24 hrs., the first instalment may fail leading to cease of SIP registration.

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Prompt confirmations from the investor will enable you to complete the digiSIP process smoothly

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Distributor Authentication:

4. I have a EUIN number or sub-broker ARN number. Do I need to enter the ARN number as well?

It is mandatory for the distributor to enter the ARN number in addition to the EUIN or sub broker ARN number.

Entering only EUIN number or sub-broker ARN number will not work.

5. I don’t use my registered mobile number any more. Is there an alternate option to generate OTP? No. The OTP will only be sent to the registered mobile number. If the distributor wants the OTP to be sent to another number, then he/she would need to change the registered mobile number to the new number. digiSIP has no option to change the mobile number.

6. How to replace existing registered mobile number with the new mobile number?

To change the registered mobile number, visit the nearest CAMS service center, fill the form and submit. Once done, the new mobile number will get registered to the distributor’s ARN.

7. In case of incorrect OTP, how many attempts can user have to resend OTP? The user can enter the OTP incorrectly up to three times. After that, the OTP link will become inactive for a period of 30 minutes. The user will be able to request for OTP again only after 30 minutes.

8. I am unable to login after 3 attempts? When can I re-try?

Once the option to generate the OTP becomes inactive, the user can re-try after thirty minutes.

9. I have multiple mobile numbers mapped to the AMC where I am empaneled. To which number will OTP be sent to?

If multiple mobile numbers are mapped, a drop down will appear where the distributor can select the mobile number to which the OTP needs to be sent.

10. I have multiple mail IDs mapped to the AMC where I am empaneled. To which mail ID will OTP be sent to?

If multiple mail IDs are mapped to the ARN code, a drop down will appear where the distributor can select the mailID to which the OTP needs to be sent.

11. I am not empaneled with the AMC displayed on the transaction screen. How do I proceed? . The distributor must empanel himself/herself with the AMC where he/she wishes to set up the SIP.

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Investor - Distributor relationship validation: 1. Can a distributor register an SIP if the investor has never invested through this distributor in the past?

Distributor can set up the SIP by creating a new folio. Distributor can enter all folio details and proceed to scheme details as per the flow and set up the SIP.

2. I have an investor who has never invested through me in any of the CAMS serviced funds. How would the investor authorize me to transact?

Select ‘No’ in the active relation question, enter the mobile number of the investor to generate link to initiate the transaction. CAMS will internally validate the mobile number entered by the distributor for accuracy and send the OTP. Once the investor confirms, create a new folio.

3. Can I start investing without the verification from the investor?

No, the investor must verify the confirmation link sent via SMS or email before the distributor can start creating SIP.

SIP set-up:

4. I have already chosen an AMC in the login screen. For my existing investors, why do I need to choose an AMC again?

The distributor needs to select the AMC again so that CAMS can send the SIP initiation OTP to the investor on the appropriate mobile number. This option is only provided for the distributor’s benefit in case the investor has multiple mobile numbers mapped across various AMCs.

5. What is the grid I see below after entering investor PAN details?

The grid displays the number of investors for whom the distributor has tried to initiate the SIP in the last 30 days.

Two statuses are given : one is confirmation status – where the investor should give ‘Go Ahead’ to the distributor to initiate SIP and the other is authorization status – where the investor should approve the entire SIP transaction for the SIP to get successfully registered.

6. How long is the initiate SIP link valid for?

Investors can verify SIP initiation until midnight after which the link sent to either SMS/Email will become inactive.

The distributor can resend the SIP initiation SMS again by clicking on the “Resend’ link given in the grid if the previous link becomes inactive.

7. How long is the investor authorization link valid for?

Investors can authorize SIP registration within 24 hours of the link being shared. If the authorization link becomes inactive, the distributor can resend the SIP authorization SMS again by clicking on the ‘Resend’ link given in the grid once the previous link becomes inactive.

8. How can I check investor confirmation response status?

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A grid appears once the distributor has validated himself/herself. All PANs that are displayed under ‘pending’ status in the confirmation status column in the grid are yet to be confirmed by the investor. Those PANs that are ‘confirmed’ in confirmation status column in the grid appear as ‘Initiate SIP’. The distributor needs to click on ‘Initiate SIP’ and enter investor details to register the SIP.

9. What details are shown to investor in SMS/Email for confirmation status?

Once the investor clicks on the link provided for the confirmation (SIP initiation) Distributor ARN, distributor name and AMC for which the distributor has done a transaction on behalf of the investor in the past are the details are displayed.

The investor can view these details and click on ‘OK’ to confirm. Once confirmed, the distributor can initiate the SIP registration on behalf of the investor.

10. Can I initiate the SIP even if the confirmation status is ‘PENDING’?

The distributor can start investing only when the authorization status changes from ‘Pending’ to ‘Initiate SIP’.

11. What details are shown to investor in SMS/Email for authorization status?

The link sent to investor for authorization provides details of scheme name, frequency, SIP date, SIP start date, amount et al. Investor can give consent by clicking on the ‘I confirm’ button after verifying the details.

12. How is payment mode set-up?

Payment mandate can be set up in multiple ways.

A. Using existing mandate: If the investor has a registered CAMS Common One Time Mandate ( COTM), then COTM can be used for the new SIP irrespective of the AMC where the new SIP is being initiated.

Should the investor have an OTM at the Fund level where the new SIP is being initiated, the same mandate can be used for the new SIP. B. If the investor does not have an useable existing mandate, then a new Mandate can be set up using the following 2 options: 1. Net Banking: Upon choosing Net banking, an SRN is generated in digiSIP. The Mutual Fund where the SIP is initiated needs to be set up as a biller in the respective bank account using bill pay service.

Investor must follow the following steps: 

Login to the respective internet banking account and proceed to the bill pay section.

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Select Mutual Fund name as the biller.

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Register future installments by providing the SIP Registration Number (SRN).

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Enable Auto-Pay facility for the above registration, if provided by the bank. This would ensure that all future installments are received on time.

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Once the registration confirmation is received by CAMS, auto debit will happen for the subsequent SIP installments.

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On the SIP date the bank debits this account to pay the Mutual Fund towards the SIP instalment. As this is a Mutual fund specific debit instruction, the mandate is used only for the specific SIP.

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Please note that if the AMC is not registered as a biller within 24 hours of setting up the SIP, CAMS will not be able to trigger the first SIP installment in 7 business days.

2. e One time mandate (e OTM): This is a unique offering from CAMS and will be launched shortly. The e mandate can be set up electronically at PAN level as a common mandate for all Mutual Funds serviced by CAMS rather than for the specific SIPs. Once set up, the e OTM can be chosen as the payment mode for any number of SIPs in any Mutual Fund serviced by CAMS. This eliminates the need to set up separate payment mandate for every SIP. Being electronic, the mandate is registered in about 2 -3 days unlike paper mandate forms that can take up to 30 days for registration. Setting up a mandate with a sufficiently higher amount than the SIP amount will bring flexibility if the user starts an SIP with a higher amount at a later date. ( e Mandate facility will be launched shortly).

13. What do I need to do to ensure the first instalment trigger happens in 7 business days?

If the distributor has chosen an existing OTM or COTM, he/she will only need to make sure that the investor authorizes the transaction immediately. Once that is done, CAMS will ensure that the SIP is registered and first installment is triggered on the chosen SIP date. If the mode of payment is through net-banking, the distributor needs to ensure that the investor registers the AMC as a biller using the SRN number sent to the investor subsequently.

Please note that if the AMC is not registered as a biller within 24 hours of setting up the SIP, CAMS will not be able to trigger the first SIP installment in 7 business days and the SIP will be ceased.

14. What does ‘View SIP’ on authorization status show?

Once the investor confirms, CAMS initiates the registration of the SIP, the authorization status in the grid changes from ‘Approved’ to ‘View SIP’. This link displays the registration status (Success/Failure). The distributor can click on this link and see the complete details of the transaction along with the transaction status.

7-day SIP:

1. Is the 7-day SIP promise valid if I submit my registration form at the CAMS service center?

No. the 7-day promise is valid only if the distributor registers the SIP through digiSIP in www.camsonline.com.

Additionally the mode of payment must be net banking or existing payment mandate (OTM/COTM) to register the SIP. Only under these conditions, CAMS will be able to register the SIP and initiate first trigger within 7 business days.

2. How will I know that instructions for Systematic transactions have been carried out?

On execution of the SIP instalment, the distributor will receive a confirmation on the executed Systematic transactions with details of amount transacted, fund details and number of units.

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General : 3. How do I create a new Folio?

Once the distributor selects the AMC name, the system flow will go to the Folio selection. If the investor has invested through this distributor earlier, the distributor can use the pre – fill data option to complete the details quickly.

Alternately, distributor can opt to provide all details.

4. Can I upload bulk transactions in digiSIP? No. the current digiSIP does not have bulk upload option. It is a feature planned for one of the future releases.

5. How to create ‘New Folio’ across various means of holdings?

The current digiSIP version only allows ‘Single’ mode of holding. ‘Anyone or Survivor’ and ‘Joint’ mode of holding would be launched in subsequent phases.

6. Can I set up multiple SIPs in digiSIP? The distributor can set up multiple SIPs in the same AMC in a single flow. To set up multiple SIPs across AMCs, the flow process must be repeated for each AMC by choosing the appropriate AMC and folio number before setting up the SIPs.

7. Can I select new schemes apart from the already existing schemes?

Yes, the distributor can select both new schemes and existing schemes for registering SIPs through digiSIP

8. Can I use different OTMs for registering SIPs in different schemes in the same AMC? In a single flow (both single or multiple SIPs) the distributor can only choose a single mode of payment, be it e OTM or net banking. To use different payment methods for different SIPs, even in the same AMC, the process flow must be repeated.

9. Under what circumstances SIP set up through digiSIP will be ceased?

If the AMC is not registered as a biller within 24 hours of setting up the SIP, CAMS will not be able to trigger the first SIP installment in 7 business days. In such an instance, the SIP registration will be ceased.

For further assistance on digiSIP related queries, you can either call customer care at 1800 200 2267 or send a mail to digisip_queries@camsonline.com.

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