The capital market regulator, Securities and Exchange Board of India (SEBI), said that the Rs 50 trillion Indian mutual funds (MF) are in advanced stages to setting up internal mechanism to detect market frauds like front-running, inside trading and so on.
"The MF industry (Association of Mutual Funds of India; AMFI, the MF industry's trade body) is in advanced stages to complete formulating the proposal. This is a complex process, hence it has taken time," said Madhabi Puri Buch, Chairperson, SEBI.
