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of <h1>SEBI Clarifies Mutual Funds Can Invest in Short-Term Bank Deposits; Reporting and Documentation Required per Regulations 1996.</h1> The circular issued by SEBI addresses the investment of mutual funds in short-term deposits of scheduled commercial banks. It clarifies that mutual funds, while awaiting the deployment of funds in securities as per their investment objectives, can invest in such deposits. The SEBI Advisory Committee on Mutual Funds recommends that these investments be reported to trustees, including a comparison of interest rates offered by other banks. Asset Management Companies (AMCs) must document the reasons for these investments as per the guidelines in a previous SEBI circular. This clarification is in line with the SEBI (Mutual Funds) Regulations, 1996.
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