Multiple choice

In case of joint holding, on redemption, the proceeds are paid to the

  1. nominee

  2. last holder

  3. first holder

  4. as per the request of all the holders

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In case of joint holdings, mutual fund redemption proceeds are paid to the first holder. This is standard practice to ensure clarity in payment and avoid complications. The first holder is considered the primary account holder and has the authority to receive payments and operate the account.