SEBI raises cash transaction limit in MFs to Rs 50,000
PrintListen to this Article
To expand the reach of mutual funds in hinterland, market regulator Sebi today increased the cash transactions limit in such funds to Rs 50,000 from Rs 20,000.
The Securities and Exchange Board of India, (Sebi), in September 2012, had allowed fund houses to accept up to Rs 20,000 in cash per investor, per mutual fund in a financial year.
"It has been decided to increase the limit of cash transactions in mutual funds from the existing limit of Rs 20,000 per investor, per mutual fund, per financial year to Rs 50,000," Sebi said in a circular issued today.
These new limit is subject to compliance with the Prevention of Prevention of Money Laundering Act, 2002 (PMLA).
Along-with Money Market Mutual Fund (MMMF) schemes, Sebi said that transaction in liquid schemes would be exempted from being reported by employees of Asset Management Companies (AMCs) and Trustees of Mutual Funds to compliance officer within seven calendar days from the date of transaction.
According to Sebi, liquid schemes have emerged as a distinct category of mutual fund scheme having features similar to that offered by Money Market Mutual Fund schemes. (PTI)
Category : SEBI | Comments : 0 | Hits : 492
A financial influencer, also known as finfluencer, who was also involved in imparting training related to stock market trading has been asked to part with a little over ?12 crore, which it made unlawfully. The funds are to be credited or deposited by Ravindra Balu Bharti into an interest-bearing escrow account that has been set up in a nationalised bank especially for that purpose. The regulator stated in an order that the escrow account(s) would establish a lien in favour of SEBI and that th...
The Securities and Exchange Board of India (Sebi), the country's market regulator, has announced the launch of an optional same-day (T+0) settlement cycle for a select group of 25 stocks starting March 28, as per a circular published on its website last Thursday. This new initiative, referred to as the beta version, is set to coexist with the traditional next-day (T+1) settlement cycle, where trades are settled within 24 hours of execution. The T+0 settlement option will be available for ...
Capital markets regulator Sebi on Thursday slapped a fine of Rs 48 lakh on eight entities, including promoters of United Polyfab Gujarat Ltd (UPGL), for manipulating the share prices of the company. These entities have to pay the penalty jointly and severally within 45 days, as per an order. The order came after Sebi conducted an investigation of UPGL and trading by certain entities in the scrip of the company, to ascertain whether there was any violation of the provisions of the PFUTP (Pr...
Sebi alerts investors about the growing trend of unregistered entities falsely claiming Sebi registration and offering unrealistic returns. Investors are advised to verify the registration status and consider the inherent risks associated with high-return investments. The Securities and Exchange Board of India (Sebi) has issued a warning to investors, cautioning them against investing money with unregistered entities that promise assured or exceptionally high returns on investments. This advi...
Capital markets regulator Sebi on Thursday issued orders of action against 15 guest experts of the Zee Business channel for unlawful trading. The entities made unlawful gains to the tune of Rs. 7.41 crore from such trades and the profit was shared with guest experts as per prior understanding, Sebi noted. The market regulator also asked the guest experts to pay Rs.7.41 crore. The guest experts appeared on the Zee Business channel from 1 February 2022 and 31 December 2022. "The facts of t...
Comments