On Monday, 1,115 crores will come in the account of these people, check whether your name is also in the list?

SBI Mutual Funds: SBI Funds Management (SBI MF) will disburse more than Rs 1,115 crore as the seventh installment from Monday to the unit holders of six closed schemes of Franklin Templeton. A spokesperson for Franklin Templeton MF said, “The total distribution after this payment will reach Rs 25,114 crore, which will be 99.6 per cent of the assets under management (AUM) of the company’s six schemes as on April 23, 2020.” The day the company announced the closure of these schemes.

9,122 crore given in the first installment
In February, Rs 9,122 crore was given to the unit holders as the first installment. Rs 2,962 crore was disbursed to investors in April, Rs 2,489 crore in May, Rs 3,205 crore in June, Rs 3,303 crore in July and Rs 2,918 crore in September.

installment will come on monday
SBI MF will disburse the next installment of Rs 1,115.5 crore from Monday to the unitholders of all the six closed schemes, the spokesperson said.

Payment will be done electronically
Let us tell you that this payment will be paid to the unit holders only in proportion to their units on the NAV. Apart from this, all the people will be paid electronically. The High Court has given the responsibility of this to SBI MF.

Ban for 2 years
SEBI has banned Franklin Templeton Asset Management from bringing a new debt scheme for the next 2 years, that is, the company cannot bring any new plan in the market. On 23 April 2020, the company had closed 6 debt schemes with assets of about Rs 26,000 crore. Franklin Templeton gave the reason for the lack of money. At the same time, SEBI believes that there has been a serious lapse on the part of the company in the debt scheme, which is against the rules. Therefore, the company has been instructed to refund the advisory fee taken during the year 2020 with 12 percent interest.

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