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PPFAS Mutual Fund among 15 AMCs to offer voluntary lock-in for folios. Here is how Sebi’s rule works
The new framework introduced by the Securities and Exchange Board of India (Sebi) allows investors to freeze their mutual fund folios so that no units can be redeemed, switched, or otherwise debited until the lock is removed.
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The facility applies to both demat and non-demat mutual fund holdings, meaning it covers folios held in demat accounts as well as those maintained directly with asset management companies (AMCs).
The locking facility will initially be made available through MF Central, an interoperable digital platform used by investors to manage mutual fund transactions and service requests across different fund houses
The fund house to introduce this facility as of now include – 360 One Mutual Fund, Baroda BNP Paribas Mutual Fund, PPFAS Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, Helios Mutual Fund, ICICI Prudential Mutual Fund, ITI Mutual Fund, JM Mutual Fund, LIC Mutual Fund, PGIM India Mutual Fund, Samco Mutual Fund, Shriram Mutual Fund, Trust Mutual Fund, WhiteOak Capital Mutual Fund.
Applicability and who all can execute
The facility is available for Resident and Non-Resident Individual Investors including Minor Folio held through a Guardian. The facility to lock / unlock will be available only to the first / sole holder in the folio, held in single and anyone or survivor basis and this will also be available to minor account which will be exercised by guardian till age of maturity and after obtaining maturity, lock/unlock will be exercised by the unit holder only.
Basic requirements
The facility shall be enabled only for KYC complied (Registered / Validated) investors having valid Email ID and Indian Mobile number registered in the folio (both mandatory).
Options for locking / freezing
The investors will have the option to lock any or all of these transactions in the folios selected for locking: Lock only debit transactions (investor initiated) or lock debit + non-financial transactions (investor initiated).
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Process for locking/freezing the folio/s for units held in non-demat mode
The process for locking or freezing the folios for units held in non-demat mode includes six steps to follow. Firstly the investor(s) will log-in to MF Central portal after completing all applicable log-in validation processes which includes providing PAN + email ID / mobile number, OTP based authentication to the email ID/ mobile number.
Secondly, on successful validation, investors will be provided with details of all his/her holdings viz., fund name, scheme, outstanding units and value of units (basis last available NAV) held in SoA form. Thirdly, the investors will select the option to lock the transactions.
Fourthly, the investor will select the fund name and folios that he/ she chooses to lock, followed by once selected, OTP would be sent to the registered mobile number / email ID and upon successful validation of OTP, MF Central will send the requests to the respective RTA who would lock the folio and send confirmation to investor.
Lastly, the lock would be marked in the select folio(s) in the RTA database instantly for holdings held in SoA form.
Process for unlocking the folio/s for units held in non-demat mode
The process for unlocking the folio/s for units held in non-demat mode also includes six steps to follow. Firstly, the investor(s) will log-in to MF Central portal after completing all applicable log-in validation processes which includes providing PAN + email ID/ mobile number, OTP based authentication to the email ID/ mobile number.
Secondly, on successful validation, investors will be provided with details of all his holdings viz., fund name, scheme, outstanding units and value of units (basis last available NAV) held in SoA form. Thirdly, the investors will select the option to unlock the transactions and then the investor will select the fund name and folios that he/ she chooses to unlock.
The fifth step requires two levels of authorization to be mandated by sending different OTPs to the registered mobile number and email ID and both should get validated. And lastly, after successful validation, MF Central will send the request to the respective RTA who would unlock the folio(s) and send confirmation to investors.
Process for locking the folio/s held in demat mode
MF Central will provide an option for the investor to lock holdings held in demat account by redirecting investors to online services offered by respective depositories.
Transactions allowed when folio is locked
Once the folios are locked, these non investor‑initiated transactions such as Address updation via KRA feeds, IDCW Payout/ Re-investment, and any action as required to be taken to adhere to the request/ orders received from Regulatory Authorities are permitted.
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Transactions allowed only after unlocking the folios
Around 14 types of transactions will be allowed only after unlocking the folios. These transactions include financial and non-financial transactions. The financial transactions include redemption, registration of STP, registration of SWP/STP, and switches.
The non-financial transactions include change/ addition of bank mandate, change of broker code, change of E-mail ID and/ or mobile number, nominee registration/ cancellation, change in IDCW option, lien marking, change in signature, consolidation of folios, transfer of units and change of tax status.
Note: Existing registered SWP/STP/DTP (before lock) will continue. All other transactions remain unaffected. All other transactions remain unaffected unless specified above.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Looking for best equity MFs to invest for 3 years? Check these 6 funds with over 27% returns
Looking for best equity MFs to invest for 3 years? Check these 6 funds with over 27% returns
Pilgrim’s Pride PPC 6.26%increase; green up pointing triangle reported a lower profit but higher revenue in the first quarter, citing resilient chicken demand.
The chicken and pork manufacturer Wednesday logged a profit of $101.4 million, or 43 cents a share. That compares with a profit of $296 million, or $1.24 a share, a year earlier.
Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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EPS of $0.29 beats by $0.06
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Wall Street Journal chief economics correspondent Nick Timiraos discusses Jerome Powell’s future following his term as chairman, the Federal Reserve under Kevin Warsh and his take on the economy on ‘Mornings with Maria.’
Bayer issued a recall for nearly 800,000 units of Afrin nasal spray bottles after the packaging was found to be not child resistant on Thursday.
The U.S. Consumer Product Safety Commission (CPSC) announced the recall Thursday, saying any customers who purchased the product are entitled to a refund. The recall impacts 786,100 units of the 6ml travel-size Afrin nasal spray.
“This recall involves unexpired Travel Size Afrin® Original Nasal Spray 6 mL bottles, with Lot numbers 230361, 240822, 241198, 250066, 250152, 250646, and 250831. These travel size bottles have ‘Afrin® Original Nasal Spray’ and ‘1/5 FL OZ (6 mL)’ printed on a label located on the front of the bottle,” the CPSC recall reads.
“The 6 mL nasal spray’s packaging is not child-resistant nor bears the required labeling statement, posing a risk of serious injury or illness from poisoning if the contents are swallowed by young children,” the statement added.
BEEF STICKS FOOD PRODUCT RECALLED FOR ‘PIECES OF METAL’ FOUND INSIDE
The CSPC issued a recall for Afrin nasal spray. (CSPC)
No injuries have been reported in connection with the recall.
The news comes just a day after nearly 13,000 toddler towers across three brands were recalled after dozens of incidents and 21 injuries were reported due to stools collapsing or tipping, according to the CPSC.
The three affected products — Toetol Tower Stools, Wiifo Children’s Tower Stools and Amzcmj DGD Children’s Tower Stools — total about 12,830 stools, according to notices from the Consumer Product Safety Commission.
Toetol Tower Stools, Wiifo Children’s Tower Stools and Amzcmj DGD Children’s Tower Stools (Consumer Product Safety Commission)
The recall covers about 3,000 Toetol Tower Stools, 9,700 Wiifo Children’s Tower Stools and 130 Amzcmj DGD Children’s Tower Stools.
“The recalled tower stools can collapse or tip over while in use and a child’s torso can fit through the openings on the tower’s sides, posing a risk of serious injury and death due to tip over, fall and entrapment hazards,” the notices read.
For the Toetol Tower Stools, there have been 18 reports of the stools collapsing, resulting in 11 injuries, including contusions, cuts and scrapes.
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The wooden kitchen tower step stools were sold in white, gray and dark wood colors and measure about 20 inches deep, 15 inches wide and 36 inches tall with model DETD0001 printed on a label on the side. They were sold online on Amazon from October 2024 through March 2026 for about $130.
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FOX Business’ Taylor Riggs reports Uber and Hertz are expanding their partnership to power robotaxis, with Hertz naming Uber as its first major partner in a push to reshape the future of mobility.
Hertz is expanding beyond its traditional car rental business through a new partnership with Uber aimed at powering both autonomous robotaxi fleets and driver-led rideshare operations, signaling a broader shift in the transportation industry.
Under the agreement, Hertz’s newly launched unit, Oro Mobility, will manage vehicle operations for Uber, including maintenance, charging, cleaning and logistics for autonomous vehicles.
The robotaxi service, which will use Lucid vehicles equipped with Nuro self-driving technology, is expected to launch in the San Francisco Bay Area later this year, with potential “expansion opportunities” in 2027.
Hertz will also supply and operate fleets of vehicles driven by its own employees on Uber’s platform, building on a pilot program that has already expanded into Los Angeles and San Francisco with additional markets planned.
UBER, RIVIAN INK $1.25B DEAL TO PUT THOUSANDS OF ROBOTAXIS ON US STREETS
A Lucid Gravity autonomous taxi at the first National AV Safety Forum held by the National Highway Traffic Safety Administration at the Department of Transportation headquarters in Washington, D.C., March 10, 2026. (Alex Kent/Bloomberg via Getty Images)
The partnership highlights a shift in the ridesharing model away from individual car ownership toward centrally managed fleets. Hertz is positioning itself as a transportation infrastructure provider, leveraging its expertise in large-scale vehicle logistics and maintenance.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UBER | UBER TECHNOLOGIES INC. | 74.61 | +0.14 | +0.19% |
| HTZ | HERTZ GLOBAL | 6.36 | +0.76 | +13.57% |
Uber, meanwhile, is continuing to emphasize a platform-driven model, relying on partners like Hertz to manage fleet operations as it scales both human-driven and autonomous rides.
For Hertz, the deal represents a high-stakes bet on a new growth strategy after years of turbulence, while, for Uber, it marks another step toward a hybrid network that could eventually integrate human drivers with self-driving vehicles at scale.
Uber is continuing to emphasize a platform-driven model. (Smith Collection/Gado/Getty Images)
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“Partnering with Hertz’s Oro Mobility will help us continue to bring the best autonomous technology onto the Uber platform and accelerate the transition to a hybrid network in which both driver-led and autonomous rideshare operations can scale and serve communities reliably and efficiently,” Uber’s Andrew Macdonald said in a statement.
“By combining Uber’s global platform and marketplace leadership with Oro’s dedicated fleet management expertise, we are well-equipped to meet increasing rideshare demand and deliver a seamless, high-quality rider experience across the entire mobility ecosystem.”
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