Zealous Regulator

Alarmed by mutual fund money lying in bank deposits well after the NFOs, SEBI wants to stop the practice. Its assumptions, conclusions and moves are based on dubious facts and logic, finds Debashis Basu

The Securities and Exchange Board of India (SEBI) has allowed mutual funds enough of leeway regarding benchmarks, objectives of a scheme and product design. Many portfolios are structured in a...

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