https://www.taxtmi.com/circulars?id=66673 The circular creates the Corporate Debt Market Development Fund (CDMDF) as an AIF backstop facility to purchase investment-grade corporate debt during market stress, subject to the GSCD. CDMDF must hold specified low-risk instruments in normal times, follow a fair-pricing valuation framework for purchases, observe a defined fee schedule, publish NAVs by prescribed times, and implement operational arrangements for RFQ trading and settlement. A three-tier loss-waterfall allocates initial losses to A3 units, then A1/A2, with residual protection via Government Guarantee; A1/A2 NAVs are protected at opening NAV during dislocation and A3 bears excess losses until parity is restored. en-us Thu, 27 Jul 2023 00:00:00 +0530 Wed, 11 Feb 2026 15:59:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66673 The circular creates the Corporate Debt Market Development Fund (CDMDF) as an AIF backstop facility to purchase investment-grade corporate debt during market stress, subject to the GSCD. CDMDF must hold specified low-risk instruments in normal times, follow a fair-pricing valuation framework for purchases, observe a defined fee schedule, publish NAVs by prescribed times, and implement operational arrangements for RFQ trading and settlement. A three-tier loss-waterfall allocates initial losses to A3 units, then A1/A2, with residual protection via Government Guarantee; A1/A2 NAVs are protected at opening NAV during dislocation and A3 bears excess losses until parity is restored. Circulars SEBI Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66673