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B30 incentives will continue to exist as SEBI has confirmed that it has not done away with the B30 incentive norms.
Manoj Kumar, Executive Director, SEBI said that the market regulator is working on a new structure to increase penetration of mutual funds in B30 cities. He was speaking at a panel discussion at the CII Mutual Fund Summit held in Mumbai.
Manoj said, “We have not done away with B30 incentive structure. We have suspended it temporarily. And there is a reason for that. Based on our internal checks, we have come across some practices, which are not desirable.”
While SEBI has asked AMFI to come up with a solution to stop misuse of B30 incentives, the trade body is yet to formulate an action plan on this.
The ED said, “We are working on a new B30 incentive structure, which will be far superior and inclusive than the present structure. The idea to is to reach out to every nook and corner of the country.”
