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All you need to know about the new Mutual Fund norms

Jun 27, 2019 20:20 IST

The Securities Exchange Board of India issued a range of directives to protect investor money after liquidity risk in the nation's credit market rose with NBFCs defaulting on payments. SEBI chairman Ajay Tyagi on Thursday said that the market regulator has decided to ban mutual funds from entering standstill pacts with companies apart from letting them hold 20% assets in liquid funds like gilts. Besides approving guidelines for share pledging, SEBI said shareholder permission will be needed for royalty over 2% of annual revenue. The board also approved changes in differential voting rights and broadening the definition on encumbrance, the board added that the promoters will have to disclose the reason whenever 20% of their share capital is leveraged.

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