SEBI increases cash transaction limit in MFs to Rs. 50,000

India Infoline News Service | Mumbai |

The move is to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

SEBI has decided to increase cash transaction limit in mutual funds to Rs. 50,000 from Rs. 20,000 for an individual in a single mutual fund in each fiscal.
The move is to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
At present, cash transactions in Mutual Funds are allowed up to Rs.20,000 for an individual in a single mutual fund in each financial year.
However, repayment in the form of redemptions, dividend, etc. with respect to aforementioned investments shall continue to be paid only through banking channel.
Along-with MMMF schemes, transaction in Liquid schemes shall be exempted from being reported by employees to compliance officer within 7 calendar days from the date of transaction, SEBI said in notification on Thursday.


 

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