Mutual Fund Regulator in India

Who is the regulator of Mutual Fund in India?

Securities and Exchange Board of India (SEBI) – SEBI is the primary regulator of mutual fund industry in India. All the mutual funds must register themselves with the SEBI. Mutual Funds are governed under a set of regulations called Securities and Exchange Board Of India (Mutual Funds) Regulations, 1996 which have been designed to protect the investors. Mutual funds can be penalised for violating norms.

In addition to SEBI, mutual funds need to abide by the regulations of following other regulators in a limited manner:

  1. Reserve Bank of India (RBI) – RBI acts as regulator of sponsors of bank-sponsored mutual funds. Mutual funds who deal in the money market need to get registered with the RBI. Mutual fund is not allowed to bring out a guaranteed/ fixed returns scheme without taking prior approval from RBI.
  2. Companies Act– Asset Management Company and Trustee Company are subject to the provisions of the Companies Act, 1956.
  3. Indian Trusts Act– As the mutual funds are formed as a public trusts under the Indian trusts Act, 1882, they have to abide by the provisions of the Indian Trusts Act, 1882.
  4. Ministry of Finance (MoF) – The MoF is the appellate authority under SEBI regulations. The finance ministry is the supervisor of the SEBI and the RBI. Appeals on the SEBI rulings relating to mutual funds can be made by the aggrieved parties to the MoF.
  5. Stock Exchange – It is required from the closed-end funds to list their units on a stock exchange. This listing is subject to provisions of the listing regulation of stock exchanges.

Upcoming Bank Holidays

2019 April 27 is a bank holiday in Andaman And Nicobar Island due to 4th Saturday Bank Holiday.
2019 May 01 is a bank holiday in Andhra Pradesh due to May Day / Labour Day.
2019 May 01 is a bank holiday in Maharashtra due to Maharashtra Din.
2019 May 07 is a bank holiday in West Bengal due to Rabindranath Tagore Jayanti.
2019 May 11 is a bank holiday in Andaman And Nicobar Island due to 2nd Saturday Bank Holiday.
2019 May 16 is a bank holiday in Sikkim due to Sate Day.

Financial Calculators

Highest FD Interest Rates

Bank NameTenureInterest(p.a.)
Esaf Small Finance Bank 12 Months8.75%
Suryoday Small Finance Bank12 Months8.50%
Utkarsh Small Finance Bank12 Months8.50%
Equitas Small Finance Bank 12 Months8.50%
North East Small Finance Bank 12 Months8.50%
Ujjivan Small Finance Bank 12 Months8.30%
Indusind Bank12 Months8.00%
Rbl Bank 12 Months8.00%
Fincare Small Finance Bank Ltd12 Months8.00%
The Nainital Bank 12 Months7.90%

Senior Citizen FD Interest Rates

Bank NameTenureInterest(p.a.)
Esaf Small Finance Bank 12 Months8.75%
Suryoday Small Finance Bank12 Months8.50%
Utkarsh Small Finance Bank12 Months8.50%
Equitas Small Finance Bank 12 Months8.50%
North East Small Finance Bank 12 Months8.50%
Ujjivan Small Finance Bank 12 Months8.30%
Indusind Bank12 Months8.00%
Rbl Bank 12 Months8.00%
Fincare Small Finance Bank Ltd12 Months8.00%
The Nainital Bank 12 Months7.90%

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