<h1>SEBI Updates Rules: Portfolio Managers Need Higher Net Worth; Rights Issue Process Streamlined; Loan Default Disclosure Tightened.</h1> The SEBI Board, during its meeting in Mumbai, approved the SEBI (Portfolio Managers) Regulations, 2019, enhancing eligibility criteria for portfolio managers and increasing net-worth requirements from INR 2 Crores to INR 5 Crores. The minimum client investment was raised to INR 50 lakhs. The Board also revised the Rights Issue process, reducing its timeline and introducing dematerialized rights entitlements. Business Responsibility Reporting was extended to the top 1,000 listed entities. Additionally, listed entities must disclose loan defaults within 24 hours after 30 days of non-payment, effective January 1, 2020.