Mumbai: The capital markets regulator has rejected a mutual fund industry proposal to allow them to isolate risky assets from the rest of their holdings and cap redemption, saying that it will encourage fund managers to take unnecessary risks, three people directly familiar with the developments said.

The Association of Mutual Funds of India (Amfi) in March approached the Securities and Exchange Board of India (Sebi) to set rules for the creation of a so-called side pocket when a specific investment faces a credit risk as a way to insulate the broader portfolio from redemption pressure.

MUMBAI: Very soon, you may see Amitabh Bachchan, Sachin Tendulkar, M S Dhoni or Virat Kohli promoting investments in mutual funds.

In a dramatic shift in its strategy to boost mutual fund investments in the country, markets regulator Sebi is seriously considering the option of allowing celebrity endorsement for the fund industry as a whole under trade body AMFI, a top Sebi official said. However, the regulator will not allow brand ambassadors for individual fund houses.

The Government of India’s plan to help public sector banks (PSB) make a fresh start is well intentioned, but could face road blocks created by its own past rules and regulations. Replenishing lost capital is necessary, but it comes with several constraints, says a report by proxy advisory firm Institutional Investor Advisory Services (IiAS).

According to the Indradhanush scheme, banks need Rs 1.8 lakh crore in the next four years to become well-capitalized, of which the budgetary allocation for support is only Rs 70,000 crore – banks will need to raise the remaining Rs 1.1 lakh crore from the market by FY2019.

MUMBAI: The Securities & Exchange Board of India has told mutual funds to drastically reduce the number of funds under management and stick to only one fund per category in an attempt to end the complexities of mutual fund investing. The regulator believes that the current products list, longer than the number of actively traded listed stocks on stock exchanges, is confusing investors.

A plethora of schemes makes it impossible for an investor to gauge a fund's suitability and often the distinctions are too thin to make any significant difference, Sebi feels.

In yet another clampdown against entities using the stock market for evasion of taxes, capital market regulator Securities Exchange Board of India (Sebi) barred Kailash Auto Finance, its promoters and over 240 entities from the securities market for generating fake long terms capital gains.

The probe found share prices of the stock were "artificially" being raised on the exchanges in order to register "bogus" or fake claims of LTCG. Given the seriousness of the issue, Sebi passed an ex parte order on Tuesday.

The Supreme Court on Tuesday allowed market regulator Securities and Exchange Board of India (Sebi) to go ahead with the sale of Sahara properties whose unencumbered title deeds are in its possession. The step is being taken to recover investors' money that Sahara groups' two companies had collected from public through Optionally Fully Convertible Debentures.

The apex court bench headed by Chief Justice T S Thakur said that the market regulator would appoint an agency to decide the mechanism for the sale of Sahara properties. The court said that the market regulator should evaluate 86 properties of Sahara.

Markets watchdog Securities and Exchange Board of India (Sebi) on Monday slapped a total fine Rs 7 lakh on four firms for failing to register with the online complaint redressal system within the stipulated time, while it disposed proceeding against 21 other companies.

The firms against which fines were imposed are Anand Motor Agencies, Brownia Business, BDBS Associates and Apex Holdings.

Capital markets regulator Securities and Exchange Board of India (Sebi) has told the Enforcement Directorate (ED) to look into complaints by four investors against a Lodha Group company, according to documents accessed by The Indian Express.

The Sebi communication was sent to the ED in January and is currently being investigated by the directorate, ED sources said. This is apart from the ongoing enquiry by the ED into Lodha’s investment in joint ventures with foreign firms and foreign investments of their sister concerns and group companies.

State-owned IDBI Bank said Tuesday it plans to raise Rs 20,000 crore from bonds in one or more tranches next fiscal to fund business growth.

The bank, at its board meeting held today, approved in-principle the rupee bond issuance limit of Rs 20,000 crore, IDBI Bank said in a regulatory filing to stock exchanges.

The Securities and Exchange Board of India or Sebi may get additional powers to regulate money-pooling activities that currently do not come under any other financial sector regulator and those where states have limited powers to act, said three people familiar with the development.

The government is in advanced stages of drafting a new legislation to this effect, confirmed the people cited above, requesting anonymity.

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