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Edited transcript: Yes, many fund companies provide this feature. If your KYC is done, this is easier. If it is not done, you can do an eKYC for investments less than Rs 50,000 per year in one fund house. If your investment scale is below this amount you can do this in a paperless way, even if you have never invested in mutual funds in the past. You choose the fund, put your bank details, validate yourself, provide your email ID and phone number. You also need your PAN number handy. You get a code from the fund company and log into your bank account online to give an authorization to the fund to deduct a specified amount for a specified periodicity. Whenever you want to discontinue, you can go back to the fund company's website to do so and by withdrawing it online with your bank.
This article was originally published on June 20, 2017.
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