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Investing for Grandson

You can invest as long as you are KYC compliant for your grandson

Can I make SIP payments through my bank account not exceeding Rs 50,000, in favour of my grandson?
—Vishnu Mohan Gupta

You can invest from your bank account in the name of your grandson if he is a minor. Recently, Sebi had implemented a restriction on third-party payments for investments. However, it exempts family members funding investments for minors. You will need to submit a declaration about the relationship and should be KYC compliant at the time of the SIP registration.

This article was originally published on February 17, 2011.

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