In a meeting on Wednesday, the Securities and Exchange Board of India (Sebi) reversed a decision taken previously in June to prohibit debt mutual funds from investing in unlisted non- convertible debentures ( NCDs). In a board meeting on 27th June, Sebi had announced a slew of measures with respect to debt mutual funds in order to prevent a recurrence of the credit crisis that has swept through the industry in the year gone by. Among other decisions, the board reduced the sectoral exposure cap on debt funds from 25% to 20% and mandated liquid funds to hold at least 20% of their assets in liquid securities like treasury bills, cash, government securities and repo on government securities.
Nine big financial changes that you must watch out for in October
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