IL&FS crisis: SEBI in talks with industry on mutual funds norms


IL&FS crisis: SEBI in talks with industry on mutual funds norms

India’s market regulator is in talks with industry to deal with fears of contagion effect on mutual funds due to a liquidity crisis faced by the country’s non-banking finance companies (NBFC), its chief said on December 7.

The crunch hit India’s shadow banks in September and October after Infrastructure Leasing and Financial Services (IL&FS) defaulted on a series of debt obligations spreading panic among other NBFCs.

Securities and Exchange Board of India (SEBI) has been scanning India’s mutual funds’ investments in the shadow banking sector since then. Read More

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