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Sebi junks rule to freeze demat a/cs, eases MF folio norm for investors (10-06-2024)
Capital markets regulator Sebi on Monday eased rules for existing investors with abolishing the norm of freezing demat accounts and mutual fund folios in case of failure to provide a ‘choice of nomination’.
Additionally, investors holding securities in physical form would be eligible for receipt of any payment, including dividend, interest or redemption payment as well as to lodge grievances or avail any service request from the RTA (Registrars to an Issue and Share Transfer Agents) even if they did not submit ‘choice of nomination’.
Earlier, the regulator set June 30, 2024, as the deadline for all existing individual mutual fund holders to nominate or opt out of nomination. Failure to comply with the rule could have led to the freezing of their accounts for withdrawals.
Based on representations received from the market participants, for ease of compliance and investor convenience, Sebi has decided that for existing investors or unitholders, non-submission of ‘choice of nomination’
Aditya Birla Sun Life MF quant fund to tap best ideas of top mutual funds (10-06-2024)
Sets top 75 holdings of large fund houses as universe
Bank of Baroda receives ratings action from Moody’s (10-06-2024)
Moody’s has maintained the stable outlook on the long-term rating.
SK Finance standalone net profit rises 13.02% in the March 2024 quarter (10-06-2024)
Sales rise 26.46% to Rs 482.48 crore
Samunnati Financial Intermediation Services Pvt L reports standalone net profit of Rs 4.00 crore in the March 2024 quarter (10-06-2024)
Sales rise 53.74% to Rs 62.28 crore
Aviom India Housing Finance Pvt standalone net profit declines 14.09% in the March 2024 quarter (10-06-2024)
Sales rise 58.94% to Rs 117.38 crore
Aragen Life Sciences consolidated net profit declines 47.80% in the March 2024 quarter (10-06-2024)
Sales decline 4.86% to Rs 414.26 crore
National Bank for Agriculture & Rural Development standalone net profit declines 20.17% in the March 2024 quarter (10-06-2024)
Total Operating Income rise 23.59% to Rs 13306.82 crore