Regulatory
- Yes Bank AT1 bond writedown impact on mutual funds
The March 2020 writedown of Yes Bank's Additional Tier 1 bonds to zero under an RBI-supervised resolution caused immediate NAV losses in Indian mutual fund schemes that held these instruments.
- UTI US-64 crisis (2001)
The UTI US-64 crisis of 2001 was India's largest mutual fund collapse, forcing a government bailout, scheme restructuring, and the eventual dissolution of Unit Trust of India into separate entities.
- Side-pocketing introduction in Indian mutual funds (2018)
SEBI's circular of 28 December 2018 introduced the segregated portfolio (side-pocketing) mechanism for Indian mutual funds, allowing AMCs to ring-fence credit-impaired debt instruments from the main portfolio to protect ongoing investors.
- SEBI multi-cap reclassification circular (September 2020)
SEBI's circular of 11 September 2020 mandated that multi-cap mutual fund schemes allocate minimum 25 percent each to large-cap, mid-cap, and small-cap stocks, forcing the largest reclassification of mutual fund assets in Indian history.
- NISM Series V-C: Mutual Fund Distributors (Senior) Certification Examination
NISM Series V-C is a higher-level certification for experienced mutual fund distributors in India, required for handling complex products and high-net-worth clients, and it supersedes the V-A qualification.
- NISM Series V-B: Mutual Fund Foundation Certification Examination
NISM Series V-B is a foundational-level certification examination for individuals who want basic familiarity with the Indian mutual fund industry, administered by the National Institute of Securities Markets.
- NISM Series V-A: Mutual Fund Distributors Certification Examination
NISM Series V-A is the mandatory certification examination for mutual fund distributors in India, prescribed by SEBI and administered by the National Institute of Securities Markets.
- NAV cut-off time reform for mutual funds (1 February 2021)
SEBI's reform effective 1 February 2021 changed the NAV allotment rule for all mutual fund schemes to require actual realisation of investor funds before the applicable NAV could be allotted, eliminating the timing arbitrage that had distorted large debt fund inflows.
- Know Your Distributor (KYD)
Know Your Distributor (KYD) is a mandatory due-diligence process administered by AMFI that verifies the identity, qualifications, and integrity of mutual fund distributors in India before they may receive commissions from AMCs.
- Karvy Stock Broking pledge-misuse case (2019) and RTA implications
The 2019 Karvy Stock Broking fraud, in which client securities were pledged without authorisation to raise broker funds, exposed gaps in depository oversight and had implications for mutual fund RTA (registrar and transfer agent) governance in India.
- JP Morgan India Amtek Auto incident (2015)
In August 2015 JP Morgan Asset Management India suspended redemptions from two debt schemes after Amtek Auto's bond rating collapsed, marking the first gating event in Indian mutual fund history.
- IL&FS default impact on debt funds (2018)
The September 2018 default by Infrastructure Leasing and Financial Services on commercial paper obligations triggered a system-wide credit freeze for NBFCs and caused mark-to-market losses across debt mutual funds holding IL&FS paper.
- Franklin Templeton six-scheme winding-up (April 2020)
In April 2020 Franklin Templeton Mutual Fund abruptly wound up six debt schemes with Rs 25,000 crore AUM, triggering India's largest open-end fund closure and landmark SEBI enforcement proceedings.
- Employee Unique Identification Number (EUIN)
The EUIN is a mandatory identifier issued by AMFI to individual employees of mutual fund distributors in India, enabling accountability for specific investment recommendations made to retail investors.
- DHFL default impact on credit-risk funds
The 2019 default by Dewan Housing Finance Corporation caused material NAV write-downs across Indian credit-risk mutual fund schemes, accelerating a category-wide collapse in assets under management.
- Debt mutual fund indexation removal, Finance Act 2023
The Finance Act 2023 (for FY2023-24) removed the indexation benefit and concessional 20 percent long-term capital gains tax rate on debt mutual funds, taxing all gains from such funds at the investor's slab rate irrespective of holding period.
- Corporate Debt Market Development Fund (CDMDF)
CDMDF is a backstop liquidity facility established by the Government of India in 2023 to provide emergency liquidity to debt mutual funds during periods of stress in the corporate bond market.
- Association of Mutual Funds in India (AMFI)
AMFI is the industry body and self-regulatory organisation for mutual funds in India, established in 1995 to develop the industry, enforce codes of conduct, and protect investor interests.
- AMFI T30 and B30 city categorisation
AMFI's T30/B30 framework divides Indian cities into the top-30 by mutual fund AUM and the next 100 cities, enabling differential distributor incentives and geographic tracking of financial inclusion in mutual fund investing.
- AMFI standardised factsheet template
The AMFI standardised factsheet template specifies the mandatory layout, data fields, and disclosure requirements for monthly mutual fund factsheets published by all SEBI-registered AMCs in India.
- AMFI Risk-O-Meter
The AMFI Risk-O-Meter is a standardised six-level risk labelling tool for mutual fund schemes in India, mandated by SEBI to help investors assess and compare the risk of mutual fund products at a glance.
- AMFI revamped factsheet (2024)
The 2024 AMFI factsheet revision introduced significant changes to mutual fund monthly factsheet disclosure requirements in India, including enhanced risk disclosure, standardised performance presentation, and improved readability standards.
- AMFI Registration Number (ARN)
The AMFI Registration Number (ARN) is a mandatory licence issued by AMFI to mutual fund distributors in India, governed by SEBI regulations and NISM certification requirements.
- AMFI investor grievance escalation matrix
The AMFI investor grievance escalation matrix defines the hierarchy of complaint redressal channels available to mutual fund investors in India, from AMC-level resolution through AMFI to SEBI SCORES.
- AMFI Group Company classification
AMFI's Group Company classification defines the rules under which mutual fund AMCs must identify and disclose investments in group companies of their sponsors, subject to SEBI's exposure limits for related-party transactions.
- AMFI Code of Ethics (ACE)
The AMFI Code of Ethics (ACE) sets out the principles-based ethical obligations that govern asset management companies and mutual fund distributors registered with AMFI in India.
- AMFI Circular 27 -- biometric KYD discontinuation
AMFI Circular 27 discontinued the mandatory biometric fingerprint requirement for mutual fund distributor KYD in India, replacing it with Aadhaar-based OTP and video-based verification methods.
- AMFI Best Practice Guidelines (BPG)
The AMFI Best Practice Guidelines are a comprehensive set of conduct and disclosure standards issued by AMFI to govern the behaviour of asset management companies and mutual fund distributors in India.
- AMFI advertisement code
The AMFI advertisement code governs the content, format, and approval requirements for all advertising by mutual fund AMCs and distributors in India, ensuring accuracy and balanced risk disclosure.
- Zerodha SMART ODR
Guide to SEBI's SMART ODR online dispute resolution platform as it applies to Zerodha clients, covering mediation, arbitration, access steps, and legal.