News From Press Sebi allows mutual funds to tie up with banks to rejig exposure

Sebi allows mutual funds to tie up with banks to rejig exposure

The regulator said the signing of ICA must be in the interest of investors and AMCs should take approval from their board and trustees.

Economic Times Aug 31, 2019

Mutual Fund (MF) houses can now join hands with banks to rejig exposure and throw lifeline to stressed corporates --- albeit with a few conditions.

In the past five years mutual funds have bank rolled several corporates by subscribing to debt instruments like debentures, extended short term finance by investing in commercial papers issued by companies as well as financed holding companies of business houses directly controlled by promoters.

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