Pointers on S.I.P debits in Mutual Funds

Please make a note on the below points w.r.t S.I.P debits in Mutual Funds:  

1) The S.I.P amount will be debited on the registered SIP date only - if it happens to be a banking / public holiday, then it will be debited on the immediate next working day. You will be receiving a SMS too regarding the debit. The exact time of debit on any day will be unknown (but typically it will happen in the morning session itself), as it is centralized system in stock exchange / bank / RBI. 

2) If there is NO sufficient bank balance on that day, then units will NOT be purchased & it will NOT be triggered again for that month. If need be, we can initiate the debit manually for this month alone. 

3) There will be NO CHARGES from Mutual Funds if the SIP bounces due to insufficient balance - Your bank may levy charges for the same. 

4) If there is bounce for 3 consecutive months, then the SIP will be automatically terminated. 

5) Units are allotted once the amount is credited to the fund house - not when it is debited from the bank. 

6) Once the units are allotted, it takes 2 working days to get reflected in the NJ portal / Mobile APP. This is the general time taken for any stock exchange transaction in India.

7) To start/stop S.I.P, it takes 7-10 working days.