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of <h1>SEBI Clarifies Mutual Fund Investments in Short-Term Bank Deposits, Citing Clause 8 of Schedule VII Regulations.</h1> The circular issued by SEBI addresses the investment of mutual funds in short-term deposits with scheduled commercial banks. It references Clause 8 of Schedule VII of the SEBI (Mutual Funds) Regulations, 1996, which allows mutual funds to invest in such deposits while awaiting the deployment of funds in securities. To enhance transparency and strengthen investment norms, mutual funds must report these investments to trustees, providing reasons and comparisons of interest rates from different banks. Asset Management Companies (AMCs) are required to document the rationale for these investments as per a previous SEBI circular. This clarification is issued under Regulation 77 of the SEBI regulations.
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