Money market mutual fund specification requires departmental set up, restricted instruments, NAV disclosure and RBI reporting compliance. Designation under section 10(23D)(ii) specifies ABN Amro Bank Money Market Mutual Fund as a departmental money market mutual fund operating as Money Market Deposit Accounts (MMDAs), managed by a separate fund manager and subject to RBI and SEBI regulatory conditions. Investments are restricted to specified short term instruments, with a combined individual issuer cap on commercial paper and short term corporate bonds, prohibition on capital market instruments and inter scheme/sponsor lending, mandatory separate accounts and independent audits, NAV calculation and disclosure, minimum fifteen day lock in with repurchase options, and periodic reporting to the Reserve Bank of India.
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Provisions expressly mentioned in the judgment/order text.
Money market mutual fund specification requires departmental set up, restricted instruments, NAV disclosure and RBI reporting compliance.
Designation under section 10(23D)(ii) specifies ABN Amro Bank Money Market Mutual Fund as a departmental money market mutual fund operating as Money Market Deposit Accounts (MMDAs), managed by a separate fund manager and subject to RBI and SEBI regulatory conditions. Investments are restricted to specified short term instruments, with a combined individual issuer cap on commercial paper and short term corporate bonds, prohibition on capital market instruments and inter scheme/sponsor lending, mandatory separate accounts and independent audits, NAV calculation and disclosure, minimum fifteen day lock in with repurchase options, and periodic reporting to the Reserve Bank of India.
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