Thankfully MIN is issued free to investors. The UIN cost quite a bit as I got it for members of my family and myself (as required by the rules).
The manner of MIN initiation was a farce. It seemed to me the collective inmates of an insane asylum had congregated at AMFI. As the article mentions the first mails on the MIN requirement want out late - on December 21 (for a Jan 1 MIN requirement). Farcically, the POS attachment was Q&A - there were no Points of Service!
That AMFI did not push much earlier (they were snoring for the better part of 2 years in the knowledge of a looming KYC) for a PAN (or mandatory bank account) is a statement of the lack of interest in retail investors by the Organisation.
The lectures on reaching out to all potential investors in the country has been shown to be a sham. I cannot imagine rural investors coming to a city to get a MIN.
Honestly, I think people with money can exist without a Mutual Fund. A Mutual Fund cannot exist without investors. I hope the industry realises this, soon.
