Refund Policy

The policy states that once a mutual fund purchase order is successfully placed and payment is confirmed, the order cannot be cancelled or reversed.

This applies to lumpsum purchases and first SIP instalments after successful order placement and payment confirmation. Equity, hybrid, and ELSS transactions submitted before 3:00 PM are described as eligible for the same business day NAV; later valid orders move to the next business day NAV. Debt, liquid, and overnight funds submitted before 1:30 PM are described as eligible for the same business day NAV; later valid orders move to the next business day NAV.

NFO orders are described as being allotted after NFO closure in line with the scheme terms. If an investor wishes to exit after units are allotted, the policy directs that this occurs through a redemption request rather than a cancellation request. The policy notes that redeemed units may become available after T+2 working days from allotment and may be subject to AMC exit load as per scheme terms.

The policy states that SIPs may be cancelled through the platform without cancellation charges or penalties from Ramaniya.

A SIP cancellation request should be submitted at least 7 working days before the next scheduled debit date for the cancellation to take effect before that instalment. SIPs with an instalment due within 3 working days are described as not being cancellable until after that instalment is processed. Cancellation stops future instalments only and does not affect units already allotted under earlier SIP debits.

If a SIP instalment is debited after a cancellation request and units are allotted, the policy states that a refund is not available for that allotted instalment. For already allotted SIP units, the page states that access to invested value occurs through redemption, subject to the applicable settlement timeline and any exit load.

The policy states that if an amount is deducted but the mutual fund order is not placed or is rejected, the full amount is intended to be refunded to the registered bank account.

Payment successful and order rejected by AMC or RTA: refund timeline stated as T+5 working days through the AMC and BSE StAR MF settlement flow. Payment successful but order not placed because of exchange connectivity failure: refund timeline stated as T+5 working days after the failure is confirmed. Payment deducted but not reported to the exchange on the same day: stated auto-reversal timeline is the next business day.

NFO order cancelled or NFO not launched: refund timeline stated as 7 working days. NEFT or RTGS payment not matched to the order: refund timeline stated as T+4 working days. TPV failure: refund timeline stated as T+2 to T+5 working days back to the source bank account.

Payment gateway technical failure: refund timeline stated as 5 to 7 working days through the payment gateway.

The policy distinguishes redemption from a refund and describes redemption as the process of selling mutual fund units.

Ramaniya is described as not charging a fee for placing a redemption order. Redemption proceeds are described as being credited directly by the AMC to the investor's registered bank account under applicable settlement timelines. Liquid and overnight funds are listed with a T+1 business day credit timeline, with same-day NAV linked to submission before 1:30 PM on a business day.

Debt, hybrid, and balanced funds are listed with a T+2 to T+3 business day credit timeline, with same-day NAV linked to submission before 3:00 PM on a business day. Equity and ELSS funds are listed with a T+3 business day credit timeline, with same-day NAV linked to submission before 3:00 PM on a business day. ETFs through the exchange are listed with T+1 business day settlement and exchange-traded pricing.

ELSS redemptions are described as unavailable before the 3-year lock-in period expires. The policy states that redemption proceeds are credited only to the verified primary bank account and may be reduced by scheme-level exit load charged by the AMC.

Successfully placed and allotted mutual fund purchase orders are described as final once units are allotted. SIP instalments for which units have already been allotted are described as not being eligible for refund. Exit load deducted by the AMC on redemption is described as outside Ramaniya's control and not refunded by the platform.

Market losses are described as outside the scope of refunds. Any platform access or subscription fees, if applicable in future, are described as non-refundable once the service period has commenced.

TPV invalid: payments are subject to Third Party Validation to match the investment bank account with the KYC-verified bank account, and TPV-invalid transactions are described as refundable within T+2 to T+5 working days. Insufficient funds on SIP debit date: the instalment may fail, the bank may levy a penalty, and Ramaniya is described as not charging a penalty for the failed SIP instalment. Unlinked or unverified bank account: payments from an unregistered or unverified bank account are described as being automatically refunded to the source account.

Incorrect bank details or IFSC: the policy states that delays caused by incorrect investor-provided bank information may occur while corrected details are obtained.

The policy states that failed-transaction refunds are generally initiated automatically by the exchange infrastructure, payment gateway, or AMC as applicable. Investors may review status through Portfolio to Order History on the Ramaniya dashboard. Refund queries may be sent to support@ramaniya.com with the registered mobile number, order ID, and the amount in question.

BSE StAR MF-related payment releases are described as generating an email notification to the registered email address. Razorpay or payment-gateway technical-failure refunds are described as being processed back to the source bank account within 5 to 7 working days. The stated support response windows are acknowledgement within 24 hours, status update within 3 working days, and resolution or escalation within 10 working days.

The policy states that Ramaniya currently offers mutual fund distribution services free of charge to investors. If subscription or service fees are introduced in future, annual or periodic fees are described as non-refundable once the service period has commenced unless stated otherwise. Delivered advisory or planning service fees, if introduced, are described as non-refundable once the service has been rendered.

Fees for services not yet rendered are described as potentially refundable on a pro-rata basis at Ramaniya's discretion. The policy notes that trail commissions may be received from AMCs for regular plan investments and that these are embedded in the scheme expense ratio rather than charged separately to the investor.

Refunds are described as being credited only to the investor's registered and KYC-verified primary bank account. Refund timelines are stated to remain subject to banking holidays, exchange closure days, and AMC processing schedules. The policy reiterates that Ramaniya acts as a distributor and not as an investment adviser and does not hold investor funds.

The document states that policy changes may occur in response to SEBI circulars, AMFI guidelines, or applicable law, with material changes intended to be communicated by email before the effective date. Where a conflict arises between this policy and an AMC Scheme Information Document, the policy states that the SID prevails for fund-specific matters.

Support email listed in the policy: support@ramaniya.com. Grievance email listed in the policy: grievance@ramaniya.com. Help page listed in the policy: ramaniya.com/help-and-support.

Stated response targets: acknowledgement within 24 hours and resolution within 10 working days. Escalation references listed in the policy include SEBI SCORES at www.scores.sebi.gov.in, AMFI at www.amfiindia.com / complaints@amfiindia.com, and the online dispute resolution platform at smartodr.in.