Market regulator Securities and Exchange Board of India (Sebi) has stepped up its vigil on domestic asset management companies (AMCs) as mutual funds have emerged as the preferred investment route for a large number of retail investors.
In FY19, the regulator shot off 47 warning letters to various MFs — a steep rise from 17 in FY18 and 27 in FY17, data accessed through a Right to Information (RTI) application showed.
