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of <h1>SEBI Amends Mutual Funds Regulations, Allowing Gold Exchange Traded Fund Schemes with New Investment and Custody Rules.</h1> The Securities and Exchange Board of India (SEBI) has amended the Mutual Funds Regulations, 1996, allowing the introduction of Gold Exchange Traded Fund (GETF) schemes by mutual funds. These schemes can primarily invest in gold and, once specified by SEBI, in gold-related instruments. Amendments include definitions for gold-related instruments and provisions for custody and investment objectives. The regulations specify that initial issue expenses for GETF schemes must not exceed six percent of the funds raised, and investments should align with the scheme's objectives, allowing temporary deposits in scheduled commercial banks to meet liquidity needs.
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