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Securities and Exchange Board Of India (Mutual Funds) Regulations, 1996 is a set of regulations in India that govern mutual funds. It is enforced by the Securities and Exchange Board of India (SEBI). The regulations have been primarily designed to protect the investors. [1] This replace an older set of regulations from 1993.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
A mutual fund is an investment fund that pools money from many investors to purchase securities.The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital'), and the open-ended investment company (OEIC) in the UK.
SEBI has to be responsive to the needs of three groups, which constitute the market: issuers of securities; investors; market intermediaries; SEBI has three powers rolled into one body: quasi-legislative, quasi-judicial and quasi-executive. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in ...
The total Assets Under Management (AUM) of the Indian mutual fund industry as of December 31, 2023, stood at a staggering ₹ 50.78 trillion (US$580 billion). This is a significant milestone, marking over a six-fold increase compared to the ₹ 8.26 trillion (US$95 billion) recorded in December 2013.
These regulations apply to all pooled investment funds registered in India which received capital from Indian or foreign investors. [1] These were made to regulated funds that were not covered under the SEBI (Mutual Funds) Regulations, 1996; SEBI (Custodian Of Securities) Regulations, 1996 and any other regulations of SEBI. [2]
Financial regulation in India is governed by a number of regulatory bodies. [1] Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the stability and integrity of the financial system.
The Securities and Exchange Board of India is the sole regulator of the Indian Securities Market. Its Preamble describes its basic function as "...to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incid thereto" [2]