Market regulator SEBI is likely to give its okay for MF Utility in the next three days, say sources close to the development.
AMFI had shortlisted nine companies for developing MF Utility platform. The platform is likely to be run on a no-profit, no-loss basis. The MF Utility will provide order routing and payment mechanisms with connectivity to R&TAs, AMCs, stock exchanges, DPs, banks, centralized KYC repository, etc.
“SEBI has some more questions on MF Utility which we need to address,” said a source in the know of the development.
The platform would allow distributors to execute transactions across all schemes of all AMCs.
