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<h1>SEBI Outlines Conditions for Mutual Funds on Redemption Restrictions During Market Crises; Limits and Exemptions Specified.</h1> The Securities and Exchange Board of India (SEBI) issued a circular detailing conditions under which mutual funds can impose restrictions on redemptions. Such restrictions are applicable during systemic crises affecting market liquidity, market failures, or operational issues beyond control. Restrictions are limited to a maximum of 10 working days within any 90-day period and require approval from the Board of Asset Management Companies and Trustees, with immediate notification to SEBI. Redemptions up to INR 2 lakh are exempt from restrictions, and investors must be informed about potential redemption limits. The circular applies to new schemes immediately and existing schemes from July 1, 2016.