Executives in India's Rs 13 lakh crore mutual fund industry are upset with a recent rule asking fund houses to disclose salaries of executives earning more than Rs 60 lakh a year.
Fund houses did not anticipate such a move from the Securities and Exchange Board of India (Sebi). They said the decision was unwarranted and did not serve any purpose.
Business Standard spoke to more than a dozen chief executive officers (CEOs) of big, mid-sized and small fund houses. Most of them were unhappy with the regulator's decision.
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