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of <h1>SEBI Introduces Corporate Debt Market Development Fund to Boost Liquidity; AMCs, Mutual Funds Must Invest Based on AUM.</h1> The Securities and Exchange Board of India (SEBI) has issued a circular detailing the creation of the Corporate Debt Market Development Fund (CDMDF) to support the corporate debt market. Asset Management Companies (AMCs) and specified mutual fund schemes are required to invest in CDMDF units, with contributions based on their Assets Under Management (AUM). The fund will act as a backstop facility to purchase investment-grade corporate debt securities during market stress, enhancing liquidity. Contributions are locked until the fund's winding up, with penalties for delays. The circular outlines operational guidelines, including investment criteria and fund access, effective immediately.
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