News From Press Sebi paves way for Rs 33,000-crore 'backstop' for debt mutual funds

Sebi paves way for Rs 33,000-crore 'backstop' for debt mutual funds

Source: Business Standard Mar 30, 2023

The Securities and Exchange Board of India (Sebi) has approved a Rs 33,000-crore backstop emergency fund for debt mutual funds (MFs) to help instil confidence in investors in the corporate bond market and also enhance secondary market liquidity.

Termed the Corporate Debt Market Development Fund (CDMDF), the initiative is designed to help MFs tide over instances of liquidity crisis in the debt market in case of a major credit event/market dislocation.

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