Current Affairs · SEBI Mutual Fund Regulations
According to the Securities and Exchange Board of India (SEBI) guidelines, if an Asset Management Company (AMC) fails to raise the minimum subscription amount or meet the required number of investors during a New Fund Offer (NFO), it must refund the entire application amount. What is the maximum duration allowed for this refund without interest from the closure of the NFO, and what is the interest rate payable if the refund is delayed beyond this period?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Fifteen working days and eighteen percent per annum interest for the delay period
- 2Seven working days and ten percent per annum interest for the delay period
- 3Five working days and fifteen percent per annum interest for the delay period✓
- 4Ten working days and twelve percent per annum interest for the delay period
Correct answer
Five working days and fifteen percent per annum interest for the delay period
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