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Under the earlier rules, SEBI had said that if the distributors bring a minimum of Rs 10,000 membership from an investor in a mutual fund, they will be eligible to get such transactions fees.
The Securities and Exchange Board of India (SEBI) has abolished the transaction fee to be given to mutual fund distributors. Along with this, the provision has also ended, under which property management companies (AMCs) used to pay this fee on investment above a fixed limit.
SEBI said that the decision was taken after public counseling in May 2023 and industry counseling in June this year. Under the earlier rules, SEBI had said that if the distributors bring a minimum of Rs 10,000 membership from an investor in a mutual fund, they will be eligible to get such transactions fees.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from the feed of PTI-language.
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