Alternative investment funds in a fix as SEBI’s demat deadline of Oct 31 looms: Report
1 year, 2 months ago

Alternative investment funds in a fix as SEBI’s demat deadline of Oct 31 looms: Report

Live Mint  

Alternative investment funds are in a fix over the market regulator’s diktat to dematerialise units of funds with a corpus of ₹500 crore or more by October 31, reported Business Line. The industry may reach out to the Securities and Exchange Board of India seeking extension of timeline, grandfathering of existing investments and exemption for funds whose life is ending in the next three years. “Given the tight timelines, only a few funds with limited investors who have drawn down all their capital have been able to complete the process.” Depositories are still rewriting the basic information they need from AIFs, with the latest change happening last Friday, the official said. The industry is awaiting clarity on aspects such as exemption to foreign investors to open bank accounts and the course of action for investors not providing demat accounts,” said Leelavathi Naidu, Partner, IC Universal Legal.

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Sebi proposes using DigiLocker to help heirs claim mutual funds
2 weeks ago

Sebi proposes using DigiLocker to help heirs claim mutual funds

India Today  

The Securities and Exchange Board of India has proposed leveraging DigiLocker, a government-backed digital document storage platform, to streamline processes and reduce unclaimed assets in the securities market. AUTOMATIC UPDATES FOR ASSET TRANSMISSION Sebi's proposal includes automatic updates to a DigiLocker user’s account status upon their demise, based on data from the Registrar General of India or KYC Registration Agencies. …

Weekend Wrap: From Swiggy to Zomato, top market movers and news of week
1 month, 1 week ago

Weekend Wrap: From Swiggy to Zomato, top market movers and news of week

Live Mint  

Top News The Securities and Exchange Board of India, in its recent circular, has introduced an abridged Common Application Form for certain Foreign Portfolio Investors. Franklin AMC has launched new fund offers In the mutual fund space, Franklin Templeton Asset Management Company has launched a New Fund Offer for the Franklin India Arbitrage Fund. These developments across regulatory reforms, capital …

Sebi proposes reforms for angel funds, lowering entry barriers and enhancing investor flexibility
1 month, 1 week ago

Sebi proposes reforms for angel funds, lowering entry barriers and enhancing investor flexibility

Live Mint  

The Securities and Exchange Board of India has proposed sweeping changes to the regulatory framework governing angel funds under Alternative Investment Funds, aiming to boost investor participation and provide more flexibility to fund managers. However, Sebi argues that angel funds provide distinct advantages, including professional management, streamlined operations, and easier access to startup opportunities, warranting their continued inclusion under AIF …

Sebi permits mutual funds to invest in overseas funds with limit on exposure to Indian securities
1 month, 2 weeks ago

Sebi permits mutual funds to invest in overseas funds with limit on exposure to Indian securities

Live Mint  

The Securities and Exchange Board of India has permitted mutual funds to invest in overseas mutual funds or unit trusts that invest a portion of their assets in Indian securities. “In order to facilitate ease of investment in overseas MF/UTs, to bring transparency in the manner of investment, and to enable Mutual Funds to diversify their overseas investments, the following …

Sebi's Demat Reform: A Step Towards Financial Inclusion for Collective Entities
2 months ago

Sebi's Demat Reform: A Step Towards Financial Inclusion for Collective Entities

Live Mint  

India is taking significant steps towards financial inclusion and regulatory simplification with the Securities and Exchange Board of India (Sebi) proposing a key reform for non-corporate entities. The proposal allows Associations of Persons (AoPs) to open demat accounts in their names for holding non-equity securities. This reform aims to enhance the ease of doing business for entities such as housing …

Demat accounts & mutual fund portfolios won't be frozen for not giving nomination details : SEBI
6 months, 2 weeks ago

Demat accounts & mutual fund portfolios won't be frozen for not giving nomination details : SEBI

Hindustan Times  

Demat accounts and mutual fund portfolios won't be frozen for not submitting nomination, SEBI announced today. Security holders can also receive dividend, interest or redemption payment as well as to lodge grievance or avail any service request, even if 'choice of nomination' is not submitted, SEBI wrote, adding that payments including dividend, interest or redemption payments which are currently withheld …

Stricter Norms For AIFs, Managers To Prevent Misuse Of Fund Structures, Check Sebi Proposal
11 months ago

Stricter Norms For AIFs, Managers To Prevent Misuse Of Fund Structures, Check Sebi Proposal

News 18  

Sebi on Friday proposed stricter norms for Alternative Investment Funds, its managers and key personnel amid instances of the instrument being used to facilitate evergreening of stressed loans and circumvention of other financial sector regulations. “While the AIF industry has registered robust growth over the years, a number of instances of AIFs being structured to facilitate circumvention of different financial …

SEBI extends deadline to add nominees in mutual funds, demat accounts to June 2024
11 months, 4 weeks ago

SEBI extends deadline to add nominees in mutual funds, demat accounts to June 2024

India TV News  

Business news: Markets regulator the Securities and Exchange Board of India today extended the deadline to June 30, 2024 for demat and mutual fund account holders to provide a nomination. "Based on representations received from the market participants, for ease of compliance and investor convenience, it has been decided to extend the last date for submission of 'choice of nomination' …

SEBI and RBI are investigating alternate investment funds’ attempts to circumvent regulations
1 year, 2 months ago

SEBI and RBI are investigating alternate investment funds’ attempts to circumvent regulations

The Hindu  

Market regulator Securities and Exchange Board of India and the Reserve Bank of India are investigating a dozen cases of alternate investment funds allegedly being used to circumvent regulations, including “evergreening” of stressed loans, according to three sources with direct knowledge of the matter. SEBI has detected at least a dozen cases involving ₹150-200 billion where AIFs have been misused …

Mutual fund folios, demat account-related deadlines: 5 changes in place from October 1
1 year, 2 months ago

Mutual fund folios, demat account-related deadlines: 5 changes in place from October 1

Hindustan Times  

In October, several significant changes are set to take place in the personal finance and administrative landscape of the country. Mutual fund folios nomination: The deadline to designate nominees for all existing mutual fund folios, including jointly-held ones, is September 30, 2023. Sebi nomination deadline for demat, trading accounts: The cutoff date for eligible existing trading and demat account holders …

ICICI Bank Brings '3-in-1' Service; Open Trading, Demat And Savings Account In One Go
1 year, 9 months ago

ICICI Bank Brings '3-in-1' Service; Open Trading, Demat And Savings Account In One Go

News 18  

ICICI Bank on March 03 announced the launch of an array of digital solutions for participants of the capital market and clients of custody services. The newly launched ‘3-in-1’ account enables the clients of stock brokers to digitally open online trading, demat and savings accounts in a few hours from anywhere across the country, the bank said in a statement. …

As Demat Accounts in India Breach 100-mn Mark, Here's Why Mutual Funds Are A Rookie Investor's Best Friend
2 years, 3 months ago

As Demat Accounts in India Breach 100-mn Mark, Here's Why Mutual Funds Are A Rookie Investor's Best Friend

News 18  

The number of Demat accounts in India reached a staggering 100.5 million in August 2022, breaching the 100 million mark, as per data from prominent depositories NSDL and CDSL. While February saw the highest opening figures this year, 2.9 million new accounts, it was followed by 2.7 million in May, 2.4 million in April, and 2.2 million last month. Money …

Demat Accounts In India Cross 10 Crore; Here's Why Investor Participation Is Rising In Equity Markets
2 years, 3 months ago

Demat Accounts In India Cross 10 Crore; Here's Why Investor Participation Is Rising In Equity Markets

News 18  

In an indication of rising retail interest in the Indian equity market, the total demat accounts in the country touched 100.5 million in August, crossing the 100 million-mark for the first time ever. According to the latest data from depository firms National Securities Depository Ltd and Central Depository Services Ltd, the total number of demat accounts in India stood at …

Indian funds’ overseas investment plans run into RBI barrier
2 years, 5 months ago

Indian funds’ overseas investment plans run into RBI barrier

Live Mint  

Multiple Indian funds have urgently petitioned the Securities and Exchange Board of India to ease the overseas investment cap for Alternative Investment Funds to avoid missing out on deals but are facing a steep battle amid the sharp fall in the rupee in recent months, three people aware of the development said. Overseas investments by Alternative Investment Funds cumulatively hit …

RBI rejects Muthoot Finance’s proposal to buy IDBI MF
4 years, 1 month ago

RBI rejects Muthoot Finance’s proposal to buy IDBI MF

Live Mint  

The Reserve Bank of India has not cleared a proposal by Muthoot Finance Ltd to buy IDBI Asset Management Ltd and IDBI MF Trustee Company Ltd from by IDBI Bank Ltd and IDBI Capital Markets & Securities Ltd, the non-bank financier said on Tuesday. The central bank has conveyed to Muthoot Finance that “the activity of sponsoring a mutual fund …

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