Mutual Funds - Regulation and Distribution : The erstwhile Unit Trust of India (UTI) was set up by the Reserve Bank of India in 1963 and functioned under its regulatory and administrative control. In 1978, the Industrial Development Bank of India (IDBI) took over regulatory and administrative control of the UTI.[7] The Government of India enacted the Securities and Exchange Board of India Act, 1992 on 4 April 1992 which created the Securities and Exchange Board of India (SEBI). SEBI issued a comprehensive set of regulations in 1993 and revised them again in 1996. These included regulations covering the Indian mutual fund industry. All mutual funds in India today are regulated by SEBI. The Association of Mutual Funds of India (AMFI) is a self-governing association of Indian Mutual Funds that regulates its members sales, distribution and communication practices. Investors can invest in Indian mutual funds directly or through distributors under codes of practice developed by AMFI
Posted on: Sun, 31 Aug 2014 15:58:18 +0000
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