CRA reduces AMC by almost 20% and transaction charges by more than 16%
CRA had reduced Annual Maintenance Charges (AMC) from Rs. 350 to Rs. 280 and Transaction Charges from Rs. 10 to Rs. 6 once the number of accounts (PRANs) crossed 10 lakhs. It was committed to reduce the charges once the number of accounts reaches 30 lakhs. However, with commendable increase in the number of subscribers in a short span of one year, CRA has reduced the AMC by almost 20% to Rs. 225 and Transaction Charges by more than 16% to Rs.5 even before reaching the milestone.
|Intermediary||Charge Head||Charges||Method of Recovery|
|Transaction (contribution, change in scheme preference, switch and withdrawal)||Redemption of units on a quarterly basis|