Franklin Templeton Mutual Fund has increased the maximum application amount for SIP and STP in Franklin India Smaller Companies Fund.

The changes are effective from July 15. The fund house informed to the unitholders through a notice-cum-addendum.

The maximum application amount through systematic investment plan (SIP) and/or systematic transfer plan (STP) shall be increased from Rs 50,000 per PAN level per month (first holder/ Guardian) to Rs 2 lakh per PAN level per month (first holder/ Guardian).

The aforesaid restriction will not affect SIP or STP or such other special products registered before the effective date and the unitholders under the IDCW Reinvestment Option. As per the provisions of the Scheme Information Document (SID), the Trustees hold the right to discontinue subscriptions under the scheme for a specified time or till further notice.