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of <h1>SEBI Mandates Monthly Reconciliation for Mutual Funds' Government Securities Accounts to Enhance Transparency and Prevent Misuse.</h1> The circular outlines a reconciliation procedure for investments in government securities, aimed at ensuring transparency and preventing misuse. It mandates mutual funds registered with SEBI to conduct monthly reconciliations of balances in SGL/CSGL accounts with the RBI. The Public Debt Offices of RBI will issue monthly balance statements, which mutual funds must reconcile and include in their internal audits. Auditors are required to continuously check the reconciliation status and report to Audit Committees, with reports also presented to AMC Boards and Trustees. Mutual funds must submit quarterly compliance certificates to the RBI and report compliance to SEBI in quarterly and half-yearly reports.
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