Mutual funds need to maintain current accounts in multiple banks for ease of doing business: SEBI

Based on the request of mutual fund industry, the SEBI has clarified that mutual funds should maintain current accounts in an appropriate number of banks for the purpose of receiving subscription amount and for payment of redemption / dividend / brokerage / commission etc. to facilitate financial inclusion, convenience of investors and ease of doing business.Based on the request of mutual fund industry, the SEBI has clarified that mutual funds should maintain current accounts in an appropriate number of banks for the purpose of receiving subscription amount and for payment of redemption / dividend / brokerage / commission etc. to facilitate financial inclusion, convenience of investors and ease of doing business.taxmann.com Latest Statutory HappeningsRead More

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