SEBI Circular: AMCs to ensure that no funds of a scheme to be parked in STDs of a bank investing in that scheme
SEBI issued a circular regarding parking of funds in short-term deposits of scheduled commercial banks by mutual funds -- pending deploymentThe Securities Exchange Board of India (SEBI) issued a clarification stating that Asset Management Companies (AMCs)/Trustees should ensure that no funds of a scheme is parked in Short Term Deposits (STD) of a bank which has invested in that scheme.SEBI...
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SEBI issued a circular regarding parking of funds in short-term deposits of scheduled commercial banks by mutual funds -- pending deployment
The Securities Exchange Board of India (SEBI) issued a clarification stating that Asset Management Companies (AMCs)/Trustees should ensure that no funds of a scheme is parked in Short Term Deposits (STD) of a bank which has invested in that scheme.
SEBI issued the circular in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 (SEBI Act), read with the provisions of Regulation 77 of SEBI (Mutual Funds) Regulations, 1996. The move will help protect the interests of investors in securities and promote the development and regulation of the securities market.
