i intend to invest less than Rs. 50 thousand in mutual fund. what is the best mutual fund ?

No need to contact any MF agent. No need of d-mat account. Banks deal in Mutual Fund(MF) directly. Contact your nearest ICICI bank or Axis bank. They are good fund managers. Of course, they may ask you to open A/c with them. They deal in all MFs including their own. So, invest the amount in 3 to 4 MFs to minimise risk. MFs of HDFC, ICICI Prudential, Reliance, SBI, UTI are preferable.

HDFC Top 200 , Fidelity Equity, Reliance regular savings equity

You can go to the website of the mutual fund

No

Okay.

However a piece of advice - Invest via SIP (Systematic investment plan) where you invest a little every month which will mitigate the rist.

Invest only if you are in for the long haul ie. 5 years or more.

Mutual fund are broadly 2 types. Debt and Equity. Debt is like putting money in debentures. Equity is like putting money in stock market. You can be guided by Valuereresearchonline.com on which fund to select.

Once you select a fund, in internet, you can download application forms (Eg: for HDFC Fund, it is www.hdfcfund.com OR for franklin templeton, it is franklintempletonindia.com). Any doubt, contact MF office (eg: Franklin Templeton Mutual fund Delhi no. is 011-60004255). Do not go through agents, banks and brokers. They will charge commission. After filling up application forms with all details, courier it with cheque to mutual fund office. If you have time, I suggest, first time, you visit mutual fund office and complete formalities. Subsequent purchases you can send through courier.

You can apply directly as mentioned above.

No need to open DMAT account at all.

You may Also invest some part of money in DSP Focus 25 Fund NFO - http://www.moneyvriksh.com/blog/?p=1177

well from what i hear , the best thing to invest in now is silver , so i guess buying a mutual fund that invest in silver , simple ?

approach a financial planner, who can guide you; based on your financial goals; your amount can be diversified accordingly; dmat is not required for mutual funds; PAN ID will be required, thou;