SebistaysputonMFschememerger

A few top mutual fund officials met the market regulator Securities and Exchange Board of India (recently, asking it to reconsider its decision on categorisation and merger of schemes. However, the regulator has stuck to its stance and told these officials to comply with the new norms within the deadline. The regulator is particularly miffed that despite adopting a consultative approach, the very officials who were involved in the discussions on categorisation are now asking for a rethink.