News and Updates

Direct Plans Do not Allow AMCs to Charge Lower Advisory and Investing Fees

SEBI’s Directive: AMCs Restricted from Charging Lower Investment and Advisory Fees in Direct Plans

The Securities and Exchange Board of India (SEBI) recently issued a directive that has significant implications for the mutual fund industry. According to the new regulations, asset management companies (AMCs) are no longer allowed to charge lower investment and advisory fees in direct plans compared to regular plans. This move aims to create a level …

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Holding AMC CEOs and Senior Officials Responsible for Misconduct and Mis-selling

SEBI’s Accountability Measures: Holding AMC CEOs and Senior Officials Responsible for Misconduct and Mis-selling

Recently, SEBI has taken a significant decision towards ensuring investor protection and maintaining the integrity of the mutual fund industry. In a bid to curb misconduct and mis-selling practices, SEBI has issued a consultation paper proposing strict accountability measures for Asset Management Company (AMC) CEO’s and senior officials. The regulatory body aims to enhance transparency, …

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RBI Governor Shaktikanta Das

RBI Governor Shaktikanta Das Reacts to the Withdrawal of ₹2,000 Notes

Recently in a press meeting, the RBI ( Reserve Bank of India) Governor Shaktikanta Das explained about withdrawing RS. 2000 notes from currency. “The decision to withdraw these currency notes was taken as there were enough notes of other denominations now. We have more than adequate quantity of printed notes available in the system” – …

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SEBI Launches Game Changing Proposals

SEBI Launches Game Changing Proposals for Massive Overhaul of Mutual Fund Industry

The Securities and Exchange board of India (SEBI) has recently released a set of groundbreaking proposals aimed at revolutionizing the mutual fund industry. These proposals have the potential to reshape the landscape of the industry and improve investor outcomes. Let’s delve into the key points of these proposals and their potential impact. SEBI suggests incorporating …

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₹2000 Denomination Banknotes

₹2000 Denomination Banknotes – Bid Farewell to the 2000 Notes as RBI Set a Deadline for Exchange by September 30

In an overnight move, the Reserve Bank of India (RBI) has announced the withdrawal of the ₹2000 rupees notes from circulation. But, it is also significant to know that these banknotes will continue to hold status as legal tender. Let’s dive into the details of this decision and its implications for the public. The RBI’s …

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Upcoming RBI Regulation

Upcoming RBI Regulation on International Transactions and Foreign Travel: What You Need to Know

As of July 1, 2023, the RBI is going to introduce new regulations for international credit card transactions and foreign travel expenses. In an effort to regulate foreign remittances and promote financial stability, the Reserve Bank of India (RBI) has recently made the decision that will impact international credit card holders and the foreign travelers. …

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SEBI Declared Parents are allowed to Invest in Their Minor’s MF Folio through Their Bank Account

SEBI Declared Parents are allowed to Invest in Their Minor’s MF Folio through Their Bank Account

Recently SEBI has announced that legal guardians or parents are authorized to regulate the minor’s MF folio through their bank account. In May 12, a circular released by SEBI made it official that now, Parents or any other legal guardian can make payments through their bank account to their minor’s MF folio. The change has …

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Mutual Fund Assets Cross RS. 41.50 Lakh Crore in April

Mutual Fund Assets Cross RS. 41.50 Lakh Crore in April

Mutual Fund assets under management (AUM) increased to Rs. 41.50 lakh crore in April 2023, from Rs. 40.62 lakh crore in March, 2023. The growth in AUM was driven by a strong inflow of RS. 1.50 lakh crore in April, 2023. This was the highest monthly inflow in the last six months. The equity segment …

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Banks Branches Out More Physical Branches to Reduce Digital Dependency

Banks Branches Out More Physical Branches to Reduce Digital Dependency

The highly growing digital transactions has alleviated the dependence on physical banks. Thus, to regain its influence, the banks started to open branches in different cities of India. HDFC Bank, ICICI Bank, and Kotak Mahindra Bank are set to open new branches to exercise their progress in the coming years. Around 600 branches, both in …

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Digital KYC

Digital KYC Will Take Place of All Financial Instruments

Recently, in a meeting by the Financial Stability & Development Council (FSDC), the finance ministry held that there shall be a single digital KYC process for all the financial instruments. Along with SEBI, RBI, PFRDA, and IRDAI, it suggested to streamline the KYC framework in a simple way. It also declared that a special drive …

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