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RBI to introduce cap on percentage of MF sales

At present, there are no restrictions on the percentage of MF sales

June 03, 2014 10:26 IST | India Infoline News Service
The RBI (Reserve Bank of India) is planning to introduce a cap on the percentage of mutual fund products of group asset management companies (AMCs) that banks can sell to investors, according to a media report.
At present, there are no restrictions on the percentage of MF sales that can come through a bank nor are there guidelines on the number of fund houses' products they need to sell. Thus, a bank can sell a high percentage of MF products of its group AMC, the report added.

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