However, there are a few limitations:
- This is only for retail individual investors (non-NRO & non-NRE bank accounts) with mode of holding as single.
- Online submission is allowed only for folios where net value of investment in the folio is less that Rs. 2 lacs.
- This facility requires availability of registered email and mobile in the folio.
- This facility cannot be used to update multiple/ secondary bank mandates in the folio. Only existing/ default bank mandate can be updated.
- The digital COBM process follow the same cooling period norms as offline COBM update.