Investments by Mutual Funds in Short Term Deposits of Scheduled Commercial Banks

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Full Text of the Document

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....d Commercial Banks Dear Sirs, According to Clause 8 of Schedule VII of SEBI (Mutual Funds) Regulations, 1996, pending deployment of funds of a scheme in securities in terms of investment objectives of the scheme, a Mutual Fund can invest the funds in short term deposits of scheduled commercial banks. With a view to further strengthen the investment norms and enhance transparency in investment....