What is the Turn around Time (TAT) for SIP’s to get successfully registered

In Case of Ledger SIP, the SIP will get activated within 3 working days

For ECS registration, we need to get the ECS mandates registered with client’s bankers. The entire registration cycle is as below:

Client registers the SIP in online terminal
Sends the duly filled and signed form to MOSL Malad office (should go for pre-printed forms)
MOSL MF operation team will verify the details and return the mandate if any discrepancy is found
The “OK” forms are send to Karvy Hyderabad office for further processing
Karvy office will update the details in their record and forward it to Bill desk
Bill desk will send the mandate copies to client’s respective banks for mandate registrations
On receiving confirmation from bank, bill desk will update their records and share the status with Karvy
Karvy will send the final status to MOSL
MOSL will update the status in online terminal accordingly.

Since this entire cycle is a time consuming process, the actual TAT for registration is of 30 days FROM THE DAY THE FORM IS RECEIVED AT KARVY OFFICE.

Hence it is very much advisable to send the registration forms to MOSL Malad office at the earliest, preferably within 2-3 days from the day of online registrations on the trading terminal.

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