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of <h1>SEBI Amends Mutual Funds Regulations: New Timeframes for Actions Under Rajiv Gandhi Equity Savings Scheme in Regulations 34-36.</h1> The Securities and Exchange Board of India (SEBI) issued the Mutual Funds (Second Amendment) Regulations, 2013, amending the 1996 regulations. The amendments primarily address mutual fund schemes eligible under the Rajiv Gandhi Equity Savings Scheme. Key changes include setting a maximum period of thirty days for certain actions in regulation 34, and a fifteen-day period from the closure of the initial subscription list for specified actions in regulations 35 and 36. These amendments came into effect upon publication in the Official Gazette on June 19, 2013.
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