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of <h1>Regulation 38 on Guaranteed Returns in Mutual Fund Schemes Omitted from SEBI Mutual Funds Regulations, 1996.</h1> Regulation 38 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, concerning guaranteed returns in mutual fund schemes, has been omitted as per a notification dated June 26, 2023. Previously, the regulation stipulated that no guaranteed returns could be offered unless fully guaranteed by the sponsor or asset management company, with a clear statement in the offer document naming the guarantor and detailing how the guarantee would be fulfilled.
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